US inventory jump, rate hike worries bring negative volatility in oil sector
Russian Deputy PM Alexander Novak announced that the country plans to cut its oil production by 500,000 barrels per day in March 2023...
Tag : OPEC
OPEC oil production surges despite intended cuts
by Prajwal Wele
Many crude streams in Nigeria made more oil in December, and some businesses said that security had gotten better...
Saudi Aramco makes huge profit amid Ukraine-Russia war
The amount from the Saudi oil firm Aramco is the biggest quarterly adjusted profit of any listed company....
Will Saudi Arabia, UAE bail out from oil crisis?
OPEC was established in 1960 as a cartel with the intention of controlling the price and supply of oil globally....
Takeaways from Joe Biden’s first trip to Middle East
OPEC+ decided last month to increase output targets by 648,000 barrels per day in August....
Kuwait oil revenues reach $38.10 bn in 2021
The gulf OPEC member recorded a budget deficit of Dh682.4 mn in the first nine months of the fiscal year...
GCC economies poised to grow 2.6% in 2021: World Bank
The report mentioned that the growth will continue in 2022...
Kuwait backs OPEC+ plan to increase oil output
OPEC+ announced a monthly increase of 400,000 barrels to ensure the oil supply balance in the global market...