Oil gained on Wednesday ahead of an expected extension to production curbs by Opec and its allies, with further support from industry data showing a larger
World stocks sank on Monday as the spreading Delta virus variant fuelled fears it could undermine the economic recovery, while oil prices tanked after leading producers finally agreed to hike output.
According to the directive, octane 91 will be sold at 2.28 riyals, and octane 95 at 2.44 riyals. The move comes into effect from July 10.
According to a source, OPEC Plus agreed to increase the UAE’s share to 3.5 million barrels per day, and increase Iraq and Kuwait produce 150,000 barrels per day.
Opec forecast on Thursday that world oil demand would rise in 2022 to reach a level similar to before the pandemic, led by growth in the United States, China and India.
The current COVID-19 pandemic and its economic consequences have shed light on new market services that leverage the digital transformation shaping
Africa Oil Week (AOW) 2021 received an overwhelming response on its inaugural day with participation from over 1500 attendees from around the world.
Abu Dhabi National Oil Company (Adnoc) announced on Thursday the award of a contract worth $980 million (Dhs3.6 billion) to Adnoc Drilling to hire two jack-up offshore rigs and associated manpower and equipment.
Inflation in India has been on the rise consistently for the past several months and various reasons can be attributed to it such as soaring food and oil prices, among others.