Saudi Arabia’s Q3 2023 budget deficit reaches USD 9.54 billion as oil revenue falls
The largest oil exporter in the world reported a nearly USD 30 billion budget surplus in 2022 as increased oil prices caused a 31% increase in government revenue...
Tag : oil
Will Venezuela become oil biggie? As US lifts sanctions, experts weigh in
The Joe Biden administration removed the majority of the six-month limitations on Venezuela's ability to produce, sell, and export oil to specific markets...
UAE IPOs shine despite global setbacks
The UAE and Saudi Arabia are now playing a significant role in the IPO market, thereby collectively raising USD 7.35 billion from 35 IPOs...
IMF predicts robust growth for the UAE economy, driven by oil revenues
Over the medium term, increasing non-oil revenue will be supported by the gradual implementation of a corporate income tax, which started in June 2023...
UAE eyes free trade deals with more countries by 2023 end
The UAE has so far signed several CEPAs including from Israel, Turkey, India and Indonesia, as part of a strategy to diversify its economy away from oil...
Amid geopolitical tensions, OPEC sticks to 2024 oil demand forecast
OPEC and its allies, known as OPEC+, began limiting supplies in 2022 to support oil prices...
Will Gaza conflict affect oil market adversely? Analysts answer
Oil prices had tumbled around the last week of September 2023, as fears of a weakening global economic outlook spiked concerns of softening demand...
IF Insights: An honest take on the ‘success’ of G7 price cap on Russian energy trade
The price cap, imposed by the 2022 end, was seen as an effort intended to reduce Russia's ability to finance its Ukraine adventure...
Russia & Saudi Arabia to continue voluntary oil cuts
In August, Russia announced that it would decrease exports by 300,000 bpd through the end of the year...
Saudi Aramco’s Lumi sets price range for IPO, eyes USD 290 million target
According to a statement released by Lumi, the price range was established between 62 and 66 riyals per share, which would give the firm a worth of up to 3.63 billion riyals...