Saturday 24 February 2018
 
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oil price

Brent could average at $64 in 2018: report

The expected drop in OECD inventories suggests that oil prices will likely be higher in 2018 than originally seen and Brent crude oil price is projected to reach $64 per barrel (/bbl) this year, said the Bank of America Merrill Lynch (BofAML) in

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Brent could average at $64 in 2018: report

The expected drop in OECD inventories suggests that oil prices will likely be higher in 2018 than originally seen and Brent crude oil price is projected to reach $64 per barrel (/bbl) this year, said the Bank of America Merrill Lynch (BofAML) in

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$60-65 preferred oil price range: Lukoil CEO

Oil prices at $60-65 per barrel are the most preferable at the moment, said chief executive officer of Russia’s oil major Lukoil Vagit Alekperov. "I think that the oil price of $60-65 is the level preferable for Opec an

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IMF forecasts UAE growth to triple in 2018

The International Monetary Fund (IMF) expects the United Arab Emirates’ economic growth to nearly triple next year as the country’s capital Abu Dhabi, benefits from an expected recovery in oil prices, a report said. Th

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Arab GDP up 2.9pc in 2016 due to oil price hike

The Arab Gross Domestic Product last year increased to 2.9 per cent from 2.5 per cent in 2015 driven by oil price hike, according to state news agency Wam.   The growth was mainly due to a set of economic reforms emb

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Oil drives Saudi Arabia’s fiscal deficit lower in H1

Saudi Arabia’s budget deficit, which fell to SR72 billion ($19 billion) in the first six months of the year, half of the first-half 2016 deficit, reflects a sharp increase in oil revenues from higher oil prices, Moody’s said.

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Low oil hitting working capital in Middle East

Overall working capital performance in the Middle East has decreased by nine days in 2016 bringing the total decline to 14 days since 2014 with lower oil prices being cited as one of the main reasons for the decline, a report said.

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Sharp fall in Mideast business confidence

Business confidence across the Middle East has fallen sharply in the last quarter and is now at its lowest level since the second quarter of 2016, according to the latest edition of the Global Economic Conditions Survey (GECS). Th

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Sharp fall in Mideast business confidence

Business confidence across the Middle East has fallen sharply in the last quarter and is now at its lowest level since the second quarter of 2016, according to the latest edition of the Global Economic Conditions Survey (GECS). Th

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Kuwait non-oil business to see 4pc growth

Kuwait’s non-oil growth is expected to improve to 3.5-4 per cent in 2017 and 2018, while inflation is also expected to remain in check as pressures from housing rent ease, and despite some upward pressures from subsidy cuts, a report said.

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