Saturday 25 November 2017
 
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Opec

GCC’s GDP to accelerate to 2.8pc next year: ICAEW

The GDP of the GCC is expected to grow from just 0.3 per cent in 2017 to 2.8 per cent next year, while the same in the wider Middle East will accelerate from 1.4 per cent in 2017 to 3.2 per cent next year, a report said. Several e

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Oil markets ‘need to extend output cut deal’

Oil markets need to extend the crude oil production cut deal to ensure market stability and reasonable prices, said Suhail bin Mohammed Faraj Faris Al Mazrouei, UAE Minister of Energy and Industry. He noted that reaching an agreem

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Global oil demand to grow 1.51mbpd in 2018: Opec

World oil demand is expected to rise by 1.53 million barrels per day (mbpd) in 2017 after an upward adjustment of 74,000 barrels per day (bpd) to account for the better-than-expected performance of China in the third quarter of 2017, according

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Oil, gas will stay key energy source till 2040: Opec

Oil will remain the world’s largest source of energy over the next two decades, despite the increasing importance of renewables, predicts the latest edition of the Opec World Oil Outlook.   Released in an e

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Oil likely to hit over $80 by Christmas, says report

With oil prices trading near their highest level in two years owing to the tough Opec action leading to supply cuts, some traders are betting that the rate increase could have more room to run, said a report. A total of 48,000 con

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Russia ready to extend Opec deal, says minister

The international deal between Opec and other countries to cut oil output could be extended beyond March 2018 if needed, said a report citing Russian Energy Minister Alexander Novak. Novak's comments came after his meeting wit

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Saudi ready to extend oil output accord: Crown Prince

Saudi Arabia is ready to support the extension of an oil production cut agreement led by the Organization of Petroleum Exporting Countries (Opec) in order to balance global crude oil supply and demand, Crown Prince Mohammed bin Salman has said

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Oil to hit $56 next year amid growing demand: World Bank

Oil prices are forecast to rise to $56 a barrel in 2018 from $53 this year as a result of steadily growing demand, agreed production cuts among oil exporters and stabilizing US shale oil production, while the surge in metals prices is expected t

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Oil gains as US stockpiles decline, Opec cuts weigh

Oil extended gains on Thursday as signs of declining US stockpiles and ongoing supply cuts led by Opec pointed to healthy demand while investors weighed potential disruptions to supply because of global geopolitical tensions. Futu

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Gas output to boost Oman’s GDP next year: NBK

Oman’s economic growth will slow to just 0.3 per cent this year – its weakest since 2011 – on the back of a drop in oil output, before recovering to 2.8 per cent in 2018 as gas production expands and the non-oil economy steadie

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