Monday 27 February 2017
 
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oil price

Oil to average $50 to $70 through 2022: report

Brent crude oil prices will average $50 to $70 per barrel (/bbl) through 2022, according to an annual medium-term supply/demand analysis conducted by Bank of America Merrill Lynch (BofAML). While global oil consumption has expande

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GCC jobs ‘set to recover in 2017’

Following a year of massive redundancies caused by the collapse in oil prices, the Gulf region is finally set to witness a stabilisation in job cuts and a moderate rate of new job creation in 2017, a report said. The survey of ove

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Oil ‘to average $61 per barrel in 2017’

Brent crude oil price will average to $61 per barrel (/bbl), helped by the recent Opec deal, said a report from Bank of America Merrill Lynch (BofAML). “Our baseline forecast for commodity prices includes an average Brent cr

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Oil ‘to average $61 per barrel in 2017’

Brent crude oil price will average to $61 per barrel (/bbl), helped by the recent Opec deal, said a report from Bank of America Merrill Lynch (BofAML). “Our baseline forecast for commodity prices includes an average Brent cr

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Mideast markets eye higher oil price in 2017

In 2017, markets the Middle East will be hoping for a stronger oil price and evidence that reform and change in the major economies are starting to see a payoff in higher revenue and controlled spending growth, said an industry expert.

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$60 oil price to be dominant in 2017, says Lukoil

Over the next year, the price of $60 per barrel will be dominant, reported Russian News Agency TASS, citing a top official of Lukoil, Russia's leading oil company. "If we analyze the history of such operations, within six

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Saudi Arabia's deficit 'could hit $90bn in 2016’

Saudi Arabia’s austerity, privatization and taxation measures will not be sufficient to reduce the deficit to the desired extent, leading to the kingdom seeing a deficit of $80-$90 billion or 13 per cent of the GDP in 2016, a report said.

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GCC liquidity crunch ‘to slow economic growth’

Tightening liquidity will continue to pose imminent challenges to GCC economies according to the latest CFA member societies survey, which gauged the opinions of CFA members and charterholders in the Middle East. The survey reveal

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Govt firms ‘better placed to resist low oil prices’

Large GREs in the GCC are better positioned to withstand low oil prices, said S&P Global Ratings in a report, adding that the governments are on a path to addressing the fiscal deficits through various forms of expenditure reform.

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Oil sinks despite Opec output cut plan

Oil prices dropped from $50 per barrel on Monday despite an agreement last week by exporters to cut output, a report said. Brent crude futures LCOc1 were trading down 25 cents, or 0.5 per cent, at $49.94 per barrel at 0205 GMT, ad

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