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OPEC Oil Production climbs to 31.27 million barrels per day in...

Crude oil output from the Organization of the Petroleum Exporting Countries (OPEC) climbed by 400,000 barrels per day (b/d) to 31.27 million b/d in...

Oil rallies as stockpile growth slows

Oil rallied in early Wednesday trade in Asia after the biggest two-day slump in a month as U.S. industry data showed the pace of...

New petroleum terminal to be build in Jebel Ali Free Zone

Horizon Terminals Ltd marks groundbreaking of US$142 million Bulk Liquid Petroleum Terminal in Jebel Ali Free Zone Scheduled to be commissioned in the 4th quarter...

Dubai crude oil cheaper in October

The Dubai Department of Oil Affairs announced today that it has set the official selling price of the Dubai crude for the next October...

Oil falls on output and demand concerns

Oil futures declined nearly 3% Friday, as the dollar strengthened. The dollar traded higher compared to major rivals by the end of the last...

Oil futures rose by 1.6 percent, topping $106

Crude oil prices rose to two and half year highs on Monday on heightened worries about supply disruption due to deepening civil unrest in...

UAE oil & gas companies eye up investment in Basra

UAE exhibitors to take firm role at international event in Basra as opportunities in Iraq continue to increase The UAE’s oil and gas industry is...

Oil prices rose 3.17 per cent last week as OPEC said...

U.S. crude oil futures ended lower last Friday, June 11, snapping a three-day winning streak, as disappointing U.S. retail sales out shadowed...

UAE Most Attractive for Oil & Gas Contractors

The United Arab Emirates has become a central hub of the oil and gas industry in the region, according to a new study. Although...

Oil Prices Strengthen; Goldman Sachs See $45 by October

Oil prices strengthened in recent trading sessions on a decline in U.S. oil inventory levels and better economic numbers from China, world’s second-largest consumer...

Oil prices rise on Middle East uncertainty

Investors worry over supply while weak dollar boosts crude-oil prices Oil futures moved up during European trading hours on Monday, because investors are concerned about...

Oil prices to surpass $150 by 2020

Bernstein Research reported on Tuesday that oil prices are expected to increase from 2015 onwards, topping $150 a barrel in 2019 and 2020. According...

Oil rally on price forecast upgrades

In reports published on Monday, both Goldman Sachs and Morgan Stanley increased their price forecasts for European benchmark Brent crude, citing decreasing spare capacity...

Crude oil futures lost 9.2% on the week

  Crude oil futures ended slightly higher last Friday in the U.S. Crude oil for September delivery added 0.3%, or 25 cents, to $86.88 a...

Oil briefly rallying above $50

Crude-oil futures rose Tuesday briefly rallying above $50 a barrel for the first time in five weeks on evidence that members of the OPEC...

Expect petrol price hike

The UAE federal government has been fixing retail prices for petrol and diesel fuel at levels below retailers’ cost for the past many years....

Oil prices as fall below $89 per barrel

Worries about the U.S. economy following the release of a disappointing manufacturing report sent oil prices lower Tuesday. At the New York Mercantile Exchange Benchmark...

Oil price extends losses

Oil price extended losses on Tuesday, as the dollar benefited from ongoing worries about European sovereign-debt issues and concerns about U.S. growth and oil...