Giants of oil sign deal to exploit gas reserves
Chinese, French and Iranian energy giants signed a $4.8 billion deal to develop the world’s largest natural gas reserve in the Persian Gulf last Monday….
Global oil prices
Oil below $45
Futures dropped as much as 1.9 percent in New York, erasing Thursday’s 0.9 percent gain. US oil output last week increased by the most since…
Oil rose after USA inventory drop but outlook remains gloomy
Oil rose on Thursday, recovering some ground after a surprisingly upbeat picture of U.S. demand halted the previous day’s steep slide, although the prospect of…
Oil vs gold – Photo
The API data released this week showed that investors are excessively anxious about the supply glut. We saw a major draw down and it was…
OPEC supplies rise again and brent oil remains below $50
Brent crude oil remained below $50 per barrel on Wednesday, weighed down by another rise in OPEC supplies despite a pledge to cut production, but…
Non-oil economy of UAE picks up amid job market stagnation
Dubai’s biggest bank Emirates NBD said Tuesday that non-oil private sector of the United Arab Emirates (UAE), which saw in May its weakest improvement in…
Will OPEC finally bankrupt US production?
Crude had a good week and a bad month. What’s next? Well, it’s worth noting that OPEC has lost its all-in competitive advantage relative to…
Crude oil up 2.5%
Toward the end of trading Friday, the Dow traded up 0.44 percent to 21,381.65 while the NASDAQ climbed 0.24 percent to 6,159.33. The S&P also…
Offshore boom will break OPEC deal
While all eyes are riveted on how much U.S. shale output is undermining OPEC’s production cuts and any oil price gains, other non-OPEC producers are…
United Arab Emirates optimistic about oil market recovery
The UAE has expected oil demand to pick up over the third and fourth quarters of 2017 despite the price fall by the end of…