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Dubai new oilfield operation will begin within a year

An offshore oilfield announced by Dubai this week is likely to begin commercial production within a year. The field which is named al-Jalila will...

Crude-oil futures rose; stocks advance in Asia

Crude oil futures rose more than 1% to trade above $98 a barrel, after sliding more than 15% last week amid a broad...

Oil Tumbles

Oil set for biggest weekly drop since July.

Shift of Middle East crude oil from US & European markets...

The ripple effects of the North American energy boom from major importer to soon-to-be exporter are being felt across the Middle East, Russia and...

Dana Gas moves ahead with plans for 1,000 sq km offshore...

Equipment and materials ordered, contracts to be awarded Dana Gas, the Middle East's first and largest regional private-sector natural gas company, is moving ahead with...

Dubai Mercantile Exchange hits new records in open interest and physical...

The Dubai Mercantile Exchange (DME) announced today that a new record total open interest of 19,867 was achieved in its flagship DME...

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...

COVID-19 & OPEC – What Is The New Normal?

Refinitiv released a special report.pdf on Covid-19 and the implications on global oil markets. Covid-19 has significantly impacted global economic outlook and oil demand as global...

Crude Short Term Perspective

Crude rallied strongly into Christmas, closing in New York at a 2-year high of $91.50 on 23 December. China‘s Christmas day rate hike of...

Oil Bulls vs. Bears

Inventories at Nineteen Year High and Demand at Eleven Year Low; On the Other Hand, OPEC Has Cut Output and China Raises Demand

Middle East Point of View: Resilience in Oil and Gas Industry

The  increased oil production by Saudi Arabia and Russia combined with the COVID-19 pandemic, have precipitated a global economic slowdown that has left Oil...

Valued over $1 trillion Saudi Aramco IPO could go global

As part of a privatization drive, Saudi Arabia is considering an IPO of Saudi Aramco, the world’s biggest crude oil producer, deputy crown price...

ADNOC Investor Forum Highlights Co-investment, Partnership Opportunities

The Abu Dhabi National Oil Company (ADNOC) hosted 200 members of the global investment and financial community at its inaugural investor forum in Abu...

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 rig count drives crude prices, not Brexit

Oil futures settled with a loss of almost 5% on Friday as the U.K. voted to leave the European Union, raising concerns over the...

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...

Kuwait ready to cut oil production; HSBC sees price at $45...

Crude slid 2.57% and Brent lost 2.43% both below $30 a barrel on Tuesday, sending renewed shivers through global financial markets. Investors in Asia were back to selling and...

Petrol prices to rise again in UAE

Local petroleum products distributors have decided to hike the price of a liter of petrol by 20 fils as of 15th July...