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OPEC pumps 28.94 million barrels per day in November

The Organization of the Petroleum Exporting Countries(OPEC) crude oil production rose to 28.94 million barrels per day (b/d) in November, an increase of 50,000...

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....

DME issued a public consultation to add Abu Dhabi Murban crude...

Dubai Mercantile Exchange (DME), the premier international energy futures exchange in the Middle East, issued today a public consultation to add Abu Dhabi Murban...

Global Oil Demand Weakens, Bank Report

In November of last year, BofA expected global oil demand to grow by 0.95 million b/d in 2013. Now this number is revised down...

UAE to chair OAPEC by 2010

The UAE will be a chair of the Arab Petroleum Exporting Countries (OAPEC) from 2010 in the framework of rotational presidency of the OAPEC...

How Will OPEC Output Cuts Affect the Middle East

OPEC is the organization responsible for regulating at least half of the world's oil output, and as such has become significant in recent years,...

Signals about global recovery faltering raise concerns about oil demand

In the oil market, analysts agree that any signals about global recovery faltering will raise concerns about future oil demand. Oil prices slid from highs...

The Route for Transformation for the GCC Petrochemical Industry

Industrial consolidation can support value creation and build strategic, operational, and capabilities for the GCC petrochemical players to remain competitive globally. The Boston Consulting Group...

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...

Exploration, development spending fuels growth in worldwide oil and gas reserves

As a result of growth in Asia-Pacific gas reserves, investments in Canada’s oil sands and the dramatic increase of US shale reserves, worldwide oil...

Crude price recovery remains long term perspective; Oil production expected to...

The idea that oil prices will bottom out, and a period of retrenchment will begin, isn’t entirely new. Investments in exploration and production are...

OPEC provides above oil market needs

OPEC pumps 1.62 million bpd above target in April Global demand growth in 2012 rises to 900,000 bpd OPEC is currently producing enough oil to keep...

GCC stock markets tumble as Iranian oil expected to flood already...

As the end of economic and financial sanctions lifted Iran's equity market, the prospect of Iranian oil flooding an already oversupplied crude market sent...

Crude oil advanced slightly for third consecutive week

Crude oil for October delivery managed to end the week in the positive, however only rose a little in weekly terms despite having ranged...

Oil market ready for a bullish move despite recent worries

The recent developments around the crisis situation in Cyprus caused new uncertainties to commodity markets. Crude oil market was no exception. Additional worries were...

Oil Trades Below $50; Could Plummet to $35 a Barrel

Oil futures fell on Wednesday, with U.S. prices settling below $50 a barrel for the first time since early April. The reason for this...

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...

Growing M&A interest in MENA Oil and Gas industry

Deloitte whitepaper tackles issues facing potential investors in MENA Oil & Gas industry Global Oil and Gas transactions have suffered a modest decline in both...