Saudi Arabia extends 1 million bpd voluntary cuts until Q1 2024

Business & Philanthropy forum to highlight inclusive approach for equitable climate solutions DUBAI: As global leaders converge on Dubai to attend the UN COP28 to discuss ways to mitigate the effects of climate change and strategies, there are calls for cross-border collaboration ensuring inclusivity to achieve common goals. To effectively highlight these aspects of climate … Read more

Oil Updates – prices rise on weak dollar, expectations for OPEC+ output cuts

SINGAPORE: Oil prices rose slightly on Tuesday due to a weak dollar, and expectations that the Organization of the Petroleum Exporting Countries and its allies, known as OPEC+, would deepen and extend output cuts due to fears demand would remain subdued, according to Reuters. Brent crude futures were up 11 cents, or 0.1 percent, at $80.09 a … Read more

Oil Updates – prices stall ahead of US stocks data, potential OPEC+ cuts

LONDON: Oil prices barely moved during Asian trade on Wednesday as the market awaited potentially mixed news on the supply front, with the Organization of the Petroleum Exporting Countries and its allies, known as OPEC+, expected to discuss output cuts and US crude stocks forecast to show a big build-up, according to Reuters. Brent crude futures fell 3 … Read more

IEA sees surplus oil supply in 2024 despite OPEC+ cuts

RIYADH: Saudi Arabia’s National Debt Management Center has closed the November issuance of its riyal-denominated sukuk program, with a bid amount totaling SR2.66 billion ($710 million), representing a decline of 33.16 percent compared to October. The November issuance was divided into two tranches, with the first tranche valued at SR1.99 billion set to mature in … Read more

Oil Updates — Crude extends gains as OPEC+ to mull deeper cuts

SINGAPORE: Oil futures nudged higher on Monday, extending gains on expectations of deepening supply cuts from the Organization of the Petroleum Exporting Countries and its allies, known as OPEC+, expected to shore up prices, which have fallen for four weeks on easing concerns of Middle East supply disruption amid the Israel-Hamas conflict. Brent crude futures … Read more