Sunday 5 July 2015
 
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oil price

Oil prices stabilize after sliding on US stock build

Oil prices were broadly unchanged from their previous close in early trading on Thursday after tumbling 4 per cent a day earlier as US stockpiles rose for the first time in months on the back of high production. Following Wednesda

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Kuwait parliament approves budget with $27bn deficit

Kuwait's parliament on Wednesday approved a state budget for the current fiscal year that envisages a budget deficit of KD8.18 billion ($27 billion) - nearly half total spending - because of low oil prices. The budget for the

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Oil bull market seen as Brazil, Iraq cut output targets

Massive downward revisions to oil output in Brazil and Iraq have increased the risks for oil markets of going from the current feast to famine within just a few years, leading to a price spike that would give a new boost to the US shale industry

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Oil drops as Greece defaults, output soars

Oil prices fell on Wednesday after Greece became the first developed economy to default on a loan with the International Monetary Fund and as both US and Opec production hit new records. Greece, as expected, was not able to repay

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Kuwait non-oil growth steady at 5pc

Kuwait’s non-oil growth will maintain a steady 5 per cent in 2015 and 2016 as project implementation improves, a report said. Kuwait’s economic growth is set to maintain a healthy pace despite last year’s collaps

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Kuwait non-oil growth steady at 5pc

Kuwait’s non-oil growth will maintain a steady 5 per cent in 2015 and 2016 as project implementation improves, a report said. Kuwait’s economic growth is set to maintain a healthy pace despite last year’s collaps

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Oil holds near 3-week lows over Greece tension

Oil futures hovered below three-week lows on Tuesday after Greeks protested against austerity following a bank shutdown. The move moved investors away from riskier assets and put Brent crude on course for a second month of decline

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GCC oil firms ‘must act now to beat price volatility’

Exploration & production (E&P) firms in the GCC will need to transform by making bold, organization-wide moves and redefine the way they interact with service providers to survive the recent drop in oil prices, an industry expert said.

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GCC oil firms ‘must act now to beat price volatility’

Exploration & production (E&P) firms in the GCC will need to transform by making bold, organization-wide moves and redefine the way they interact with service providers to survive the recent drop in oil prices, an industry expert said.

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Oil price drop unlikely says Kuwait minister

Kuwait's oil minister said on Tuesday he expected oil prices to continue rising, predicting gains in the final quarter of 2015 on the back of global growth. "All indicators point to an improvement in prices ... today we h

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