Oil Prices Surge 2%, Brent Restores $70 Level
Concerns regarding crude supplies as well as the geopolitical tensions in the Middle East led to a surge in the global oil prices by more than 2%.
Oil Prices | Egypt Oil & Gas - Part 5
Egypt Sets Oil Price at $68 in 2020 Budget
The budget for fiscal year (FY) 2019/20 estimates oil prices at $68 per barrel, down from $70 of in FY 2018/19.
Current Oil Prices Are Fair: Kuwait Deputy Oil Minister
The oil market is balanced, and current oil prices are fair, according to Talal Al-Sabah, Kuwait’s Acting Deputy Oil Minister.
Egypt Starts Hedging Mechanism in FY 2018/19
The Egyptian government is taking a hedging mechanism against oil and food commodities price fluctuations in fiscal year (FY) 2018/19.
Egypt, Saudi Arabia Discuss Oil, Gas Opportunities
El Molla and Al-Falih met on the sidelines of the World Economic Forum on the Middle East and North Africa that is taking place in Jordan on April 6-7.
Iraq Plans to Reduce Oil Prices for Jordan
Iraq plans to reduce the price of oil traded to Jordan, in return for getting preferential tariffs on goods that Iraq receives from Jordan through Aqaba port.
Egypt Cancels Fuel Hedging Contracts
The Ministry of Finance has canceled plans to purchase fuel hedging contracts from international financial institutions.
Saudi Crude Production Hits Record Highs in Early November
Saudi Arabia's crude production hit record highs in early November following large orders made in early October in preparation for the loss of Iranian crude from the market.
GCC Economies to Recover in 2019 Due to Stable Oil Prices: Moody’s
The Gulf Cooperation Council (GCC) and Africa will experience higher economic growth in 2019.
Aramco May Cut Asia-Bound Crude Prices
Saudi Aramco could decrease the official selling price (OSP) differentials of crude oil bound for Asia in December, according to traders.
