Tag Archives: oil prices

Aramco rises in times of crisis

Aramco rises in times of crisis Despite all the challenges such as oil price volatility, uncertainty caused by the ongoing Russian-Ukrainian crisis and the economic slowdown resulting from the pandemic, Saudi Aramco remains among the top performers in the energy league. The oil giant’s performance is evident in its 2021 …

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Oil prices are rising⁠ and pipeline stock dividends are rising. Here’s how to play it.

Sanctions on Russia are shaking up global energy markets, pushing crude oil above $100 a barrel and pushing U.S. gasoline prices to an average of $4.30 a gallon, up almost 50% last year. He also made the energy sector a superstar this year. Of the 11 sectors of S&P500, energy …

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Oil prices continue to fall on new hopes for peace between Russia and Ukraine

Text size Oil prices erased gains early Wednesday on renewed hopes for peace between Russia and Ukraine. Getty Images Oil prices continued to slide on Wednesday after falling into a bear market just a week after hitting their highest levels since 2008. West Texas Intermediate (WTI) futures fell more than …

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Britain’s Johnson urges Saudi Arabia to increase oil production, minister says

LONDON, March 14 (Reuters) – British Prime Minister Boris Johnson is trying to persuade Saudi Arabia to increase oil production, a senior minister said on Monday, following reports that Johnson is heading to the weight heavyweight from OPEC this week. Saudi Arabia and the United Arab Emirates have so far …

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Oil could experience its biggest supply shock since 1973

The global oil market was already tight before Russia’s invasion of Ukraine, but Putin’s war and its aftermath on Russian crude supply and energy prices has the potential to send the market into a shock. major supply chain comparable to the Arab oil embargo of 1973. Oil inventories in major …

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UK oil prices – live: Drivers pay ‘incredibly high’ costs as RAC says diesel ‘on track to reach £1.70 a litre’

Drivers queue for fuel in England as motorists are hit by rising oil and diesel prices With average petrol and diesel costs hitting record highs in the UK, drivers will see ‘unbelievably high prices on the forecourts’, the RAC has warned, as petrol has reached over £2 a liter in …

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Economic growth at 7.8%, the rise in oil prices slows down: S&P Global Ratings

Rising oil prices could dampen economic growth and lead to large current account (CAD) deficits in major energy-importing countries like India, S&P Global Ratings said on Wednesday. The rating agency pegged India’s economic growth at 7.8% for FY23. It said high inflation, weaker demand and heightened uncertainty …

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Repercussions of the Russo-Ukrainian War on Africa

The transformation of the Russian invasion of Ukraine’s Donbass region into an all-out war on February 24 has raised global economic and security concerns. In this context, the reactions of African countries to the Russian intervention, how the Russian-Ukrainian war will affect Russia’s African policies, and general reflections of the …

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Political certainty protects Indian stocks from soaring oil prices: Morgan Stanley

Falling oil intensity in GDP and rising share of domestic investors are among other reasons, foreign consultancy says Despite an oil supply shock, Indian interest rates, currency and equities appear to be relatively calm for six main reasons, Morgan Stanley said. The global financial advisory firm has analyzed the probable …

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KUNA: Kuwaiti oil price remains well above the 100 point threshold – General

03/03/2022 LOC08:59 05:59 GMT KUWAIT, March 3 (KUNA) — The price of Kuwaiti crude oil remained well above the 100-point threshold amid global turmoil caused by the ongoing Russia-Ukraine crisis.In a statement on Thursday morning, the Kuwait Petroleum Corporation (KPC), the umbrella company of Kuwaiti …

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Oil prices rise as fears over Russian crude supply escalate

Oil prices continued to climb on Wednesday as markets braced for severe disruptions in crude supplies from Russia as Moscow’s invasion of Ukraine continues. The global benchmark, Brent crude, climbed as high as $113 a barrel on Wednesday, just days after breaking the triple-digit mark for the first time in …

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Oil and gold prices jump, Russian central bank hikes rates as ruble falls – Business Live | Business

Hello and welcome to our ongoing coverage of the global economy, financial markets, eurozone and business. The Russian ruble crashed more than 40% to a new all-time high against the dollar, oil prices jumped up to $7 a barrel and gold prices gained 1%, as financial markets opened for the …

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Ukraine crisis: Amid concerns over rising crude oil prices, farmers in Punjab stock up on fuel

As the Russian-Ukrainian conflict raises concerns over soaring crude oil prices, farmers in Punjab stock up on fuel for the upcoming wheat harvest season. Long lines of tractors, with fuel storage tanks, were seen at petrol stations in rural areas of the southern region of Malwa on Saturday. Russia and …

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Commodities Rise as Russia Invades Ukraine: Major Oil, Aluminum, Palladium and Nickel Price Spikes

Editor’s Note: With such volatility in the markets, stay up to date with daily news! Get our quick roundup of today’s must-see news and expert opinion in minutes. Register here ! (Kitco News) – In a highly volatile session following Russia’s attack on Ukraine, the commodities sector surged, …

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Germany approves $14.7 billion package amid rising energy costs; hydrogen will become a market of 1 billion dollars per year: NRG counts

Green energy is the future, but demand for oil and gas is here to stay: Zamil Group CEO Oil-real estate investment firm Zamil Group plans to enter the renewable energy market, company CEO Adib Al Zamil said. “Investing in new sectors is what kept us going as a group. We …

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Saudi Arabia denounces short-sighted campaign against oil

The world’s biggest oil exporter, Saudi Arabia, has repeatedly said it wants to be the producer that pumps out the very last barrel of oil. In the meantime, the world and its growing economy will still need oil and gas, even as renewable energy capacity soars globally. The rebound of …

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Oil prices swing as Russia threatens Ukraine

Uncertainty sent oil prices soaring at Sunday’s trade open as more Russian troops massed on Ukraine’s borders, but fell later overnight as reports said the President Biden would consider direct talks with his Russian counterpart as long as Russia does not invade. Oil prices had remained essentially flat over the …

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Campaign against oil and gas investment short-sighted, Saudi energy minister tells IPTC 2022

RIYADH: As Arab states push ahead with economic diversification plans, experts watching geopolitical developments remain optimistic about the future of the Gulf region, but warn that strong global and political headwinds persist. Experts gathered at a recently concluded conference at the Arab Gulf States Institute in Washington, also known as …

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How a Russian-Ukrainian conflict could affect global markets. 5 points

Below are five charts showing where a potential escalation in tensions could play out in global markets: 1/SHELTERS A major risk event usually sees investors rush into bonds, generally considered the safest assets, and this time may be no different, although a Russian invasion of Ukraine is likely to push …

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Oil prices up sharply for 8th time – Manila Bulletin

With global oil prices rising slightly, heavy domestic oil pump cost adjustments are again expected next week for this year’s 8th round. Based on last week’s international trade results, it was estimated that petrol prices will increase by P0.95 to P1.05 per litre; diesel from P0.55 to P0.65 per litre; …

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Electric SUV racing comes to Saudi Arabia’s NEOM

An electric sport utility vehicle (SUV) race will start tomorrow in Saudi Arabia. The Extreme E Desert X Price go running from February 19 to 20 at the site of the planned futuristic city of NEOM in northwestern Saudi Arabia. The race features electric SUVs, driven by teams of two. …

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RHB Raises Crude Oil Price Forecast to US$75-$90, Maintains ‘Overweight’ on Sector | Money

RHB Research said demand destruction was inevitable for Russia and Ukraine in the event of war. —Photo Reuters KUALA LUMPUR, February 14 – RHB Research maintained its call for “overweight” on the regional oil and gas sector and raised its crude oil price forecast to between USD 75 and USD …

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Net oil profit jumps 37% in third quarter, Auto News, ET Auto

The OIL Board has declared a second interim dividend of Rs 5.75 per share for 2021-2022 resulting in a total interim dividend to date of Rs 9.25 per share for exercise. New Delhi: State-owned Oil India Ltd reported a 37% increase in third-quarter net profit on Friday as it benefited …

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Oil prices climb after API data shows surprise drop in US stocks

Crude oil storage tanks are seen in an aerial photograph of the Cushing Oil Hub in Cushing, Oklahoma, U.S., April 21, 2020. REUTERS/Drone Base Join now for FREE unlimited access to Reuters.com Register API data shows US crude, fuel stocks falling – sources Iran nuclear talks resume Tuesday in Vienna …

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Zuraida: The government is committed to protecting the long-term interests of the palm oil industry

KUALA LUMPUR (5 February): The Ministry of Industries and Plantation Products (MPIC) will continue to work hard to ensure that the long-term interests of the palm oil industry are safeguarded and to help smallholders d palm oil and other stakeholders. This is despite US and EU sanctions imposed on Malaysian …

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Slower economic growth could weigh on commodity prices

Supply chain challenges and rising inflation are dampening global economic growth, with last year’s pace of expansion expected to slow this year and next, which could lead to lower demand of raw materials. If demand for commodities slows, prices could reflect moderating economies. That could happen before the end of …

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FTSE 100 Live January 28: Apple’s sales record dampens Wall Street’s tech jitters, BHP exits top flight, oil price at $90

1643366527 Slowdown session as BHP exits FTSE 100 BHP’s latest session in the FTSE 100 index prompted a surge in activity today as tracking funds ended their exposure to one of London’s biggest stocks and top dividend-payers . The mining giant’s decision to transfer its main listing to Sydney as …

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High food prices dash India’s hopes of cutting cooking oil imports

Consumption is expected to rise in India by 17% over the next four years, according to BV Mehta, executive director of the Solvent Extractors’ Association. Such a steep rise would further widen the manufacturing gap: India is likely to produce around 10 million tonnes of edible oils in 2021-22, against …

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Environmentalists vow to fight latest Kimberley fracking proposal to unearth Australia’s biggest oil resource

An energy economist says the world will watch as a proposal by an Australian onshore oil fracking company in the Kimberley is being reviewed by Western Australia’s environmental watchdog. Key points: Theia Energy’s fracking proposal released by EPA for public comment this week Kimberley project could unearth Australia’s biggest oil …

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Oil may rise as Putin approaches Ukraine

Mike Waltz, R-Fla., speaks on Biden’s cancellation of U.S. pipelines and growing tensions at the Russia-Ukraine border. As Russian President Vladimir Putin moves closer to Ukraine, global energy markets face a potentially seismic event threatening a global economic downturn. Teleprinter Security Last Change Change % USO US OIL FUND LP …

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Oil and Gas Pipeline Coatings Market to Surpass US$6,958.0

DUBAI, United Arab Emirates, Jan. 20, 2022 (GLOBE NEWSWIRE) — According to Future Market Insights (IMF), the oil and gas pipeline coatings market recorded an annual growth (YoY) of 5.5% in 2021. The demand in the Oil and Gas Pipeline Coatings Market is expected to grow at a CAGR of …

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TMS Ep88: Paytm, Sanjeev Krishan, rising oil prices, “right to repair”

Its November debut on Dalal Street was a disappointment, eroding more than half of investors’ wealth. And last Friday, Paytm announced that it would end its operations in Canada. Its shares hit a historic low of Rs 995 on the day, before recovering. Most market pundits are now asking investors …

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Energy companies boosted by gas price spikes have paid £200bn to shareholders since 2010 | Oil and gas companies

Oil and gas companies have paid nearly £200billion to shareholders since 2010 and are set to be hit with a windfall tax to cap heating bills set to rise by up to £500 a year, according to a report on the finances of the British energy sector. . Shell and …

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Geopolitical risks to watch this winter

By Editorial Dept – January 14, 2022, 12:30 PM CST A single attack on oil at this point could push prices up to $90, but that will depend on where it is. Markets will weigh more heavily on some geopolitical sentiments than others. And there’s plenty to choose from right …

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OPEC Plus and other oil producers fail to meet demand

Nearly two years ago, global oil producers halted and drastically reduced production as the pandemic gripped global economies. The sharp decline was accompanied by an implicit promise that as factories reopen and planes return to the air, the oil industry will also rebound, gradually ramping up production to help economies …

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Can the world avoid a global oil supply crisis?

Europe’s gas crisis has been in the headlines for months now, and for good reason – the continent is still struggling to get enough power for its winter needs. But there could be a worse crisis threatening the world, and that would be an oil crisis. The signs are there …

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Buhari repeats false statement about Nigeria’s oil revenues in recent years

President Muhammadu Buhari again cited erroneous figures on Nigeria’s average crude oil earnings between 1999 and 2014, while speaking of his administration’s efforts to build the economy with scarce resources. The president, in the interview broadcast by Channels TV on Wednesday, said Nigeria’s crude oil production from 1999 to 2014 …

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Indonesia to subsidize 1.2 billion liters of cooking oil to cool prices

JAKARTA, Jan.5 (Reuters) – Indonesia will offer 1.2 billion liters of cooking oil at a subsidized price to consumers, the government said on Wednesday, in a bid to curb inflation that peaked on last month following a commodity boom. . The government will spend 3.6 trillion rupees ($ 250.78 million) …

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Dividends recover for Saudi Arabia’s 10 biggest companies after pandemic

LONDON: Greta Thunberg’s bitter sacking of world leaders for their promises to fight global warming as ‘blah, blah, blah’ was not what it turned out, too far off target in 2021. Despite serious commitments from Washington to Beijing to reduce fossil fuel consumption and reduce global heating emissions, demand for …

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2021 was the year of the collision of energy strategies

The past year has been marked by a visible and accelerated energy transition, as politicians and investors have focused more than ever on climate change and ways to slow global warming. But a flexible White House energy policy and OPEC market control have proven fossil fuels aren’t going away anytime …

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Activists demand an immediate end to oil production

Europe may be in the throes of an energy shortage and forced to reopen retired coal plants to cope, but climate activists insist it’s time to part with fossil fuels , the earliest would be best. According to them, this is a simple solution to the emissions problems in the …

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Gulf economies headed for budget surpluses with some help from oil

Apart from the financial reforms and the volume of non-oil investments announced by the GCC countries, the growth of the oil and non-oil sectors will exceed recent forecasts. Image Credit: Pixabay / Gulf News What would be the Gulf’s economic prospects for 2022? This is a question asked by everyone, …

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N1trn in 10 months … how oil subsidy payments weighed on Nigeria’s income in 2021

The stubborn undercollection of premium motor spirit (PMS), also known as the gasoline subsidy, created a mess of income for the federation in 2021. Apart from the usual polemics on the question of whether to “withdraw or not”, the essence subsidy payments swallowed up over 1.03 trillion naira in 10 …

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Oil rallies amid reduced fears of Omicron-induced drop in demand

Bryan Mound Strategic Petroleum Reserve, an oil storage facility, is seen in this aerial photograph over Freeport, Texas, USA, April 27, 2020. REUTERS / Adrees Latif / File Photo Register now for FREE and unlimited access to Reuters.com Register Two antiviral pills for COVID-19 approved in the United States Exxon …

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Gazprom CEO Neft says he is “suspicious” of overheating oil market in 2022

Russian group Gazprom Neft has been working to increase its unused production capacity to bring additional barrels to the oil market in 2022, as the possibility of the market overheating remained, CEO Alexander Dyukov said on December 17. . Crude prices rebounded slightly on December 16 after fears about the …

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Russian gas exports to Europe via the Yamal pipeline drop sharply

LONDON: Oil prices fell on Friday, heading for a slight decline during the week, amid fears that the slowdown in the spread of the omicron COVID-19 variant could affect demand. Brent crude futures fell 1.5% to $ 73.88 a barrel at 1:10 p.m. Riyadh time, while U.S. West Texas Intermediate …

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Crude oil prices fluctuate, but fuel prices remain unchanged

New Delhi, first published December 18, 2021 at 9:32 a.m. IST Gasoline and diesel prices last changed on Diwali. Since then, oil marketing companies have refrained from revising fuel prices. This despite the fact that crude oil prices have continued to fluctuate in the international market. At 8:30 a.m. on …

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Was OPEC right on the oil markets?

Just a week ago, oil markets were looking to cross this year’s finish line on a winning note as oil prices recorded a respectable rally thanks to the easing of widespread foreclosure fears. Several reports have shown that, despite faster spread, the Omicron variant causes milder symptoms than Delta and …

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Omicron Covid variant to reduce global oil demand, IEA says

A tanker truck drives past oil well pump jacks operated by Chevron Corp. in San Ardo, California, United States, on Tuesday, April 27, 2021. David Paul Morris | Bloomberg | Getty Images Oil demand is expected to fall below expectations next year, the International Energy Agency said on Tuesday, as …

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Saudi Central Bank publishes IT governance framework for financial institutions

While the Saudi fiscal year 2022 fiscal statement is expected to be released shortly, two Saudi economists told Arab News about their forecasts for the Kingdom’s fiscal performance. A key difference is whether the Kingdom should run a surplus or a deficit. “In my opinion, we could see a budget …

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Oil prices post their biggest weekly increase since August

The general view shows the Cadereyta refinery of the Mexican state oil company Pemex, in Cadereyta, on the outskirts of Monterrey, Mexico, on April 20, 2020. REUTERS / Daniel Becerril / File Photo Register now for FREE and unlimited access to reuters.com Register Brent and WTI post biggest gains in …

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Saudi Arabia, Kuwait Work To Increase Khafji And Wafra Oil Production

Oil heads for biggest weekly gain in four months as OPEC + exit decision is warranted LONDON: Oil prices rose on Friday and were heading for their strongest weekly advance since late August, as investors became less concerned about the potential effect of the omicron COVID-19 variant on economic growth …

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Oil weighs on Saudi stocks, Dubai wins for seventh day

An investor browses the Dubai financial market after Joe Biden won the US presidency, in Dubai, United Arab Emirates, November 8, 2020. REUTERS / Christopher Pike Register now for FREE and unlimited access to reuters.com Register now December 9 (Reuters) – The Saudi stock market ended lower on Thursday, following …

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Oil prices drop as investors wait for Omicron’s impact assessment

Crude oil storage tanks are seen from above at the Cushing Oil Hub in Cushing, Oklahoma on March 24, 2016. REUTERS / Nick Oxford / File Photo Register now for FREE and unlimited access to reuters.com Register Biden warns Putin of sanctions, Nord Stream 2 disruption if Russia invades API …

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Omicron Doom and Gloom may not be justified

They say once bitten, twice shy. Last year, global oil traders were in shock after oil prices fell into negative territory for the first time in history, a scenario few people could have imagined, let alone predicted. And their knee-jerk reaction to any emergence of new Covid-19 variants now appears …

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OPEC was in decline. Soon he might be more powerful than ever

But with the demand for crude rising as the impact of the pandemic wears off, that no longer appears to be the case. OPEC +, which brings together the Organization of the Petroleum Exporting Countries and allies like Russia, is once again showing dynamism. the group refusal of membership calls …

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Oil prices could climb to $ 150 in a fully reopened world: Jefferies

Oil prices could rise “much more” from current levels given the world’s heavy reliance on fossil fuels and could reach $ 150, said Christopher Wood of Jefferies. “In a world that is really reopening – which is a big ‘if’ – the price of oil can rise dramatically,” Wood, global …

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S&P Revises Bahrain’s Outlook to Stable on Tax Reforms and Rising Oil Prices

S&P Global Ratings revised Bahrain’s outlook from stable to negative as the Gulf country undertakes tax reforms to strengthen its economy. Rising oil prices along with support from other GCC members are also expected to help the country improve its fiscal position. The rating agency confirmed Bahrain’s long and short-term …

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Stocks and oil prices tumble as new variant of Covid scares markets

Shares and oil prices fell as concerns from global investors mounted over a new variant of Covid-19 that prompted the UK to impose severe travel restrictions on countries in southern Africa. The sharp drop in equities was led by Hong Kong, where two variant cases were confirmed on Thursday evening. …

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Saudi Arabia applies spending cap despite oil revenues – Eurasia Review

By Shatha Almasoudijana and Sallouum Ruba Alrashed Saudi Arabia, which last month reported a surplus from its first quarterly budget surplus since the first quarter of 2019, is enforcing spending restrictions even as oil prices trade near their multi-year high. Saudi Arabia’s finance ministry has started enforcing the spending cap …

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US wants more oil, but OPEC + can’t turn on the tap much harder

LONDON: US pressure on OPEC + to pump more oil and cool scorching crude prices has highlighted a relatively new problem for the producer group: it doesn’t have much extra capacity to ramp up production faster , even if he wanted to. The Organization of the Petroleum Exporting Countries and …

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The energy crisis in Europe will worsen this winter

Geopolitics ExxonMobil and Qatar Petroleum are several weeks away from a resumption of exploratory drilling off Cyprus, while the French Total SA and the Italian Eni should resume drilling in the same area in the first half of 2022. This update of the Drilling from the Cypriot government prompted a …

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Oil Rises on Tight Stocks, Demand Concerns Limit Gains

The chimneys of the Total Grandpuits oil refinery are seen just after sunset, southeast of Paris, France, March 1, 2021. REUTERS / Christian Hartmann / File Photo Brent and WTI rise, but demand concerns could limit gains Trafigura CEO Weir sees “very, very tight” oil market Oil price rally should …

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Oil wins after US infrastructure bill passes, Chinese exports rise

Crude oil storage tanks are seen from above at the Cushing Oil Hub in Cushing, Oklahoma on March 24, 2016. REUTERS / Nick Oxford TOKYO, Nov. 8 (Reuters) – Oil prices rose on Monday amid positive signs of global economic growth, supporting energy demand, as Saudi state producer Aramco raised …

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Biden helpless as OPEC + meets in Vienna

Tension between Washington and OPEC + oil producers is mounting as the cartel meets today in Vienna to discuss its agreement to control production. For now, all signals from OPEC + indicate that it is unwilling to add more barrels to the global supply despite calls and demands from the …

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With shale under control, Saudi Arabia and Russia become more comfortable with oil rally

A sticker shows crude oil on the side of a storage tank in the Permian Basin in Mentone, Loving County, Texas, USA, November 22, 2019. REUTERS / Angus Mordant / File Photo OPEC + has pushed back US calls for faster production increases Russian source claims OPEC + is not …

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Press review: Russia’s future in the battle against climate change and the United States seeks to challenge OPEC + – Press review

Izvestia: Russia’s future in the fight against climate change Preserving forests and other natural ecosystems plays a decisive role in the fight against global warming, Russian President Vladimir Putin said in his video message to participants of the Glasgow Climate Conference (COP26). He stressed that Russia intends to halt greenhouse …

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Rising oil price could affect debate over Alaska’s long-term budget

Representative Dan Ortiz, I-Ketchikan, speaks at a House sitting in Juneau in March 2019. Ortiz said on Tuesday that improving the state’s revenue forecast will likely reduce support for the new taxes. (Photo by Skip Gray / 360 North) Ketchikan’s independent representative, Dan Ortiz, considered a proposal that would rewrite …

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Saudi Arabia wants businesses and families to choose Riyadh

The Saudi Arabia pavilion is on view at Expo 2020 in Dubai, United Arab Emirates on Monday, October 18, 2021. The Crown Prince of Saudi Arabia wants businesses, their employees and their families to relocate to the kingdom. The once ultra-conservative capital Riyadh now promises a lifestyle where concerts, cinemas, …

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Only OPEC has the power to send oil prices to $ 100

After the price of West Texas Intermediate (WTI) recently crossed $ 80 a barrel, Russian President Vladimir Putin was asked if he could reach $ 100. He replied: “It is quite possible.” Given Russia’s dependence on revenues from its oil exports, he was probably smiling as he said so. The …

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Saudi Aramco Sees Revenue Increase to $ 30.4 Billion in Third Quarter | WJHL

through: ISABEL DEBRE, Associated Press Posted: Oct 31, 2021 / 6:53 AM EDT / Update: Oct 31, 2021 / 6:53 AM EDT FILE – In this file photo from June 28, 2021, engineers and journalists at Saudi Aramco examine the Hawiyah natural gas liquids recovery plant, which is designed to …

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The government takes advantage of the windfall of soaring oil prices

The government expects a boon in oil exports after crude oil shortages by major exporters around the world have pushed commodity prices to a three-year high. Crude oil prices peaked at $ 85 per barrel this week as demand for the commodity increased amid tight supply from China, the United …

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Saudi Arabia Facilities Management Markets, 2016-2020 and 2021-2026 – Increase in Public Spending in Tourism Sector and Construction Activities

DUBLIN, October 27, 2021– (COMMERCIAL THREAD)–The “Saudi Arabia Facilities Management Market Research Report: Forecast (2021-2026)” report was added to ResearchAndMarkets.com offer. Saudi Arabia Facilities Management Market Expected To Grow At A CAGR Of Around 15% In The Period 2021-26F The growth of the market is accredited to propel investments in …

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Oil Prices Extend Gains to Multi-Year Highs Due to Tight Supply

Crude oil storage tanks are seen from above at the Cushing Oil Hub in Cushing, Oklahoma, USA, March 24, 2016. REUTERS / Nick Oxford WTI reaches its highest level since October 2014, Brent reaches its highest level in 3 years Speculators increase their net long positions in US crude -CFTC …

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Peak oil demand forecasts turn sour as demand continues to grow

In the minds of many news consumers, oil is disappearing. Coal too. Gas too, although this can stay on for a bit longer. After all, we are entering a new era of clean energy, and while it will take some time to get there, it is our only option for …

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Why gas prices are going up when they should go down

Historically, gasoline prices have risen in the spring for a variety of reasons, including the switch to summer fuel. Then they decrease in the fall for reasons such as lower demand for gas after the hot summer months. But this is not the case this year. Gas prices have gone …

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Indian state refiners consider joint crude purchases as soaring prices bite

Strong points IOC, BPCL, HPCL are the main state-run refiners in India The key challenge of pricing such long-term transactions: Platts Analytics HPCL rough runs reach 100% capacity as demand increases Indian state refiners, bitten by soaring crude prices, are working on a plan to jointly negotiate forward crude import …

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Oil hits multi-year high above $ 86, then pulls back

A worker takes a sample of crude oil from an oil well operated by the Venezuelan state oil company PDVSA in Morichal, Venezuela, July 28, 2011. REUTERS / Carlos Garcia Rawlins / File Photo American crude, lower fuel stocks, tightening supply -EIA Coal and natural gas prices fall, weighing on …

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Akbayan calls for fuel subsidy against rising oil prices

October 20, 2021 at 11:44 AM “Apply the brakes to rising oil prices. “ That was Akbayan Partylist’s call to the government in response to eight weeks of uninterrupted increases in fuel prices, as he lobbied for motorists to subsidize fuel by relaunching the Pantawid Pasada program. “Kailangan which is …

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$ 200 ‘Crazy’ Oil Bets Invade Options Market

A roaring bullish crude options trade indicates that the energy rally of 2021 is far from over. Traders are betting once again that the benchmark US oil will exceed $ 100 a barrel, up from $ 82 recently, as early as December. U.S. crude, known as West Texas Intermediate or …

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Massive oil price hikes set again next week – Manila Bulletin

Motorists will have to prepare for larger increases in gasoline prices next week from P 1.90 to 2.00 per liter, according to calculations by oil companies. For diesel products, the expected price increase will be in the range of P1.35 to P1.45 per liter while kerosene products are expected to …

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Saudi Aramco wipes out nearly $ 2 billion in valuation as oil prices skyrocket

By: Associated Press October 15, 2021 Saudi oil company Aramco recently hit the $ 2 trillion valuation the kingdom’s crown prince has long sought, supported by high oil prices and increased demand for energy as economies recover from pandemic lockdowns of Last year. Enter your username and password in the …

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What a global energy crisis means for North American stocks

Imagine that a few years ago, in early 2014, Vladimir Putin threw a coin into a wishing well and demanded a more favorable market for Russian oil and gas, their main source of foreign exchange. Just seven years ago, after the Russian invasion and takeover of Crimea, the country was …

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Oil is stable as soaring electric fuel prices offsets concerns over crude demand

A gas station attendant prepares to refuel a car in Rome, Italy, January 4, 2012. REUTERS / Max Rossi IMF slashes growth prospects for major economies China’s crude imports in September fall 15% year-on-year – data U.S. Gasoline Futures On Track For Higher Close Since October 2014 Market expects API …

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$ 100 of oil doesn’t seem likely

Saudi Energy Minister Prince Abdulaziz bin Salman al-Saud (Photo by KARIM SAHIB / AFP via Getty … [+] Images) AFP via Getty Images A woman was recently sentenced to four days in jail for approaching a bear to take a selfie: I guess she wasn’t at NYMEX, where bears seem …

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Russia’s economy under President Putin on the charts

Russian President Vladimir Putin attends a meeting with US President Joe Biden at Villa La Grange in Geneva, Switzerland, June 16, 2021. SPOUTNIK | via REUTERS Love him or hate him, there is no doubt that Russian President Vladimir Putin has helped keep Russia firmly on the global geopolitical stage …

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Putin’s announcement on increasing gas deliveries to the EU gesture of cooperation: Expert

ANI | Update: 09 Oct 2021 2:00 PM STI Moscow [Russia], October 9 (ANI / Sputnik): Russian President Vladimir Putin’s statement that energy giant Gazprom could increase Europe’s gas supply is a move to promote international energy cooperation for the benefit of all, Paul Adam Isbell, professor of political economy …

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Covid at center of global energy crisis, but cascade of problems fuel it

LONDON – Much of the world is suffering from a severe energy crisis. Homes and factories across China are in darkness. India’s coal-fired power plants are scrapped. Dozens of UK utility companies have gone bankrupt. Spain announced emergency legislation after household utility bills rose by more than a third in …

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Smaller packaging, same price: curse of ‘shrinkflation’ hits shopping carts | Business

Shoppers should beware of supermarkets and food brands that squeeze through price hikes by downsizing packaging – known as “shrinkflation” – as they battle rising raw material costs, energy and labor, analysts warned. Food giants, faced with soaring prices for commodities such as oil and flour, along with record electricity …

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Moody’s raises average oil price outlook to $ 50- $ 70

NEW YORK: Oil prices fell nearly 2% on Wednesday after hitting multi-year highs as an unexpected increase in US crude inventories prompted buyers to pause after recent searing gains. The latest surge in crude prices was underpinned by the refusal of the Organization of the Petroleum Exporting Countries and its …

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Saudi non-oil private sector growth reaches its highest level in 7 years

Saudi Gazette report RIYAD – According to a survey by the Information Processing Services (IHS) Market. IHS Markit is a global information provider. A purchasing managers index compiled by IHS Markit rose to 58.6 in September from 54.1 the previous month, the largest monthly point gain on record. The 4.5 …

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Soaring oil and gas fuels inflation fears, as German factory orders tumble – Business Live | Business

Hello and welcome to our continued coverage of the global economy, financial markets, UK supply chain crisis and business. The energy crisis is intensifying, driving up costs for households and businesses, and spreading inflationary fears in the markets. US crude hit its highest level since 2014 this morning, extending its …

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Malaysia harnesses economic, trans-fat-free benefits to spotlight the Middle East as a major new export market

Earlier this year, MPOC CEO Datuk, Dr Wan Zawawi Wan Ismail, previously revealed to us the council’s plans to diversify Malaysian palm oil export markets beyond its two main markets. current, China and India. “The current palm oil market has only two major exporters of palm oil – Indonesia takes …

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OPEC + sticks to plan to gradually increase oil production as prices skyrocket

VIENNA – Oil prices continued to rise on Tuesday, a day after the OPEC + meeting kept its back-to-supply plan unchanged, with traders taking further account of tense market conditions. The OPEC + grouping is made up of the Organization of the Petroleum Exporting Countries (OPEC), Russia and their allies. …

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Oil and gas prices could remain high as investors seek clean energy

HOUSTON – Americans are spending a dollar more on a gallon of gasoline than they were a year ago. Natural gas prices have climbed more than 150% over the same period, threatening to increase the prices of food, chemicals, plastics and heating this winter. The energy system is suddenly in …

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Western Pennsylvania oil companies unhappy with steep price hike

The price of natural gas is not the only thing on the rise. The cost of heating oil is about 80% higher than a year ago, which does not please local oil companies. Representatives from companies such as Glassmere Fuel in West Deer and Export Fuel in Export say high …

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Gulf economies explode in 2021

Last year, in the throes of the energy crisis, the Gulf countries led by Saudi Arabia have consistently touted the strength of their economies, claiming they could withstand any scale of shocks. But the truth is that most of the Gulf economies were in dire straits due to their excessive …

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Oil Prices Impact USDINR Movement: Myth or Reality?

The USDINR remained volatile throughout the week as it continued to track the US dollar index under low risk market conditions. After opening at 73.68, the pair traded between 73.61 and 74.36 before ending the week at 74.12. The dollar index has moved closer to a one-year high amid rate …

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Opposition protests against rising oil prices in North America – Journal

ISLAMABAD: The National Assembly witnessed the opposition protest again on Friday, this time against the recent price hike for petroleum products, while the government insisted that prices were below international market rates . The Treasury advisers again gave the opposition the opportunity to suspend the session due to low turnout …

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Crude oil prices torn between supply fears and grim market mood

CRUDE OIL OUTLOOK: Crude oil prices slow as rally struggles to extend past four-month highs Concerns related to the reduction in supply are counterbalanced by a generally risk-free environment US PCE inflation and the ISM manufacturing survey in the spotlight ahead Crude Oil Price wavered sharply but ultimately failed to …

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