Browsing: oil

NEW YORK: Oil prices fell on Friday, putting them on track for a second weekly decline, as a strong dollar and mixed economic signals weighed on investor sentiment, according tot Reuters.

A stronger dollar tends to lower oil prices as buyers using other currencies have to pay more for their dollar-denominated crude

Between May 4 and July 30, 2023, Jordan imported approximately 5 million barrels of oil from the modern storage facility in Kirkuk, Iraq

Expanded export and import capacity and increasing natural gas demand drove the growth in global LNG trade last year.

Minister of Petroleum and Mineral Resources Karim Badawi met with the UAE Ambassador to Cairo Mariam AlKaabi to explore ways to bolster cooperation

Kuwait’s oil GDP will rise by 0.9% quarter-on-quarter (QoQ) in the fourth quarter of 2024 and 4% year-on-year (YoY) in 2025 if its oil production is restored fully

World oil demand decelerated in the second quarter, with growth easing to 710,000 barrels per day year-on-year

Meanwhile, falling freight rates show that penalties have failed to affect Russia’s oil shipment costs, the outlet has noted

SINGAPORE: Oil prices were little changed in Asian trade on Friday but were on track for a fourth straight week of gains and holding near their highest levels since late April on hopes of strong summer fuel demand and some supply concerns, according to Reuters.

SINGAPORE: Oil prices climbed on Monday, supported by forecasts of a supply deficit stemming from peak summer fuel consumption and OPEC+ cuts in the third quarter, although global economic headwinds and rising non-OPEC+ output capped gains, according to Reuters.