Price of Dubai crude oil for July delivery set in parallel...
The Department of Oil Affairs has announced that official price of Dubai crude oil, which will be delivered next July will be equal to...
Sheikh Mohammed announces new oil discovery in Dubai
H.H. Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister of UAE and Ruler of Dubai today announced the new oil discovery in...
Global oil market oversupplied
U.S. crude oil futures ended lower for the fourth session in a row last Friday, May 14, and extended losses for the second straight...
Libya has declared force majeure on its oil contracts; Oil price...
Libya has declared force majeure on its oil contracts, Reuters reported Tuesday, citing oil traders. The news follows Libyan leader Col. Moammar Gadhafi's refusal...
OPEC holds production levels
OPEC has decided not to cut output, despite record levels of crude in inventories and weak demand forecasts, with some cartel members believed to...
Crude Oil, Gold and Silver rise on weak Dollar
Crude oil prices climbed Wednesday as US inventories dropped unexpectedly last week. The Energy Information Administration reported on Wednesday, US Crude inventories fell 4.4M...
OPEC basket price slips to USD 69.71 pb
Organization of the Petroleum Exporting Countries (OPEC) said on Monday that its 12-crude basket price dipped by USD 3.02 to settle at...
Oil Market sees Correction
Last week, crude oil for November delivery slumped to a low of $74.95 per barrel and subsequently found a base before heading higher. Tuesday‘s...
Gold, silver, crude oil turning bearish
Gold and silver futures slumped Wednesday as the euro weakened, prompting a rally for the US dollar. Euro dropped to a three-week low against...
2012 Oil Demand Outlook Lowered
Global oil demand in 2012 is expected to grow by 800,000 b/d from 2011, down from last month’s outlook for 1.1 million b/d of demand growth
Confidence Returning to Oil and Gas Recruitment as Oil Price Stabilises
A review of the employment environment in the energy sector by Petroplan has found that, despite a major contraction in the value of the...
Oil prices could drop as far as $70 a barrel
Oil prices worldwide could drop as far as $70 a barrel when the North African region and the Middle East see a calming of...
Future demand for oil may pull oil price lower
EIA reported an increase of 1.3 million barrels of crude oil for the week ended October 7, pushing the price lower.
IMF Increases Next Year’s Middle East Growth Forecast to 4.2%
The International Monetary Fund increased its 2010 economic growth forecast for the Middle East to 4.2 percent from 3.7 percent after oil prices rose.
“The...
Is a Second OPEC Cut on The Cards?
OPEC's coordinated effort to curtail global supply has so far managed to put a floor under oil prices, which have been sitting modestly above...
Current levels of Oil Prices “acceptable and reasonable” for Producers &...
Current levels of oil prices in the range of 70-80 dollars per a barrel are ''acceptable and reasonable'' for both producers and consumers, H.E....
Oil prices eye fresh 2-1/2 year highs
Crude oil prices hold near 2-1/2 year peaks as worries about supply disruption persisted given ongoing unrest in Libya.
U.S. crude rose 0.2...
Oil and Gas Jobs in Demand
ENOC Applicants Double at Careers UAE 2010
ENOC, the Dubai Government-owned Oil and Gas Company announced today that the number of applications for oil...