The oil market is experiencing a "temporary correction" and fundamentals should dictate a fair price for oil, Qatar's oil minister Mohammed al-Sada said in a speech on Sunday.
"We believe in the role of market f
Saudi Arabia steeply cut its January oil prices for Asian and US buyers yesterday, a move some analysts said showed it was stepping up a battle for market share a week after refusing to support Opec output cuts.
Official Selling P
Bahrain's economy grew by 5.1 per cent in constant prices and 4.7 per cent in current prices in the third quarter of this year, compared with last year.
“The growth momentum covered all oil and non-oil economic sectors,&
Gold fell on Friday on the back of a slump in oil prices, with strength in the dollar piling further pressure on the metal ahead of a referendum on the management of Swiss bullion reserves this weekend.
Oil prices posted their sha
US oil and gas producer Apache Corp, one of the largest foreign investors in Egypt, hopes to reach an agreement with Cairo on higher gas prices by the end of the year and is encouraged by what it considers greater government transparency.
Qatar has become the latest Middle East oil producer to cut prices by more than $1 a barrel in an attempt to revive demand for its crude in Asia.
Qatar, one of the smallest producers in Opec, has cut the Septem