Opec on Monday predicted global demand for its crude oil will be less than previously thought in 2016 as supply from rivals proves more resilient to low prices, increasing the excess supply on the market this year.
Demand for Opec
The Organization of the Petroleum Exporting Countries (Opec) pointed to a larger oil supply surplus on the world market this year than previously thought as Saudi Arabia and other members pump more oil, making up for losses in non-member produ
Opec pumped more oil in November than in any month since late 2008 and forecast little increase in demand for its crude next year, pointing to a larger supply surplus even as low prices hurt rival producers.
India is likely to bring in rules to make it compulsory for sugar mills to export millions of tonnes of surplus supplies to support local prices, sources said, in a move that could quell growing anger among farmers but add to a glut on global ma
Oman posted a budget deficit of OR544.6 million ($1.41 billion) in the first three months of this
year, swinging from a OR215.4 million surplus a year earlier, provisional finance ministry data showed on Tuesday.
The world's biggest oil exporters in Opec are pumping almost two million barrels per day (bpd) more crude than required, the highest surplus for at least a decade, data from Reuters, top forecasters and energy agencies shows.
Kuwait's government budget surplus shrank 26 per cent in the first nine months of this fiscal year as lower oil prices cut revenue sharply, analysts at National Bank of Kuwait (NBK) calculated, using Ministry of Finance data.
Qatar's trade surplus for third quarter of last year stood at QR91.8 billion ($25.2 billion), down by nearly seven per cent compared to QR98.7 billion during the same period the previous year, according to a report.
Qatar’s international reserves rose $43.5 billion in August driven by a strong current account surplus, an increase of $7.2 billion as compared to the same period last year, according to a report.
The latest QNB Monthly Moni
Oman's government budget surplus reached 582.9 million rials ($1.5 billion) in January-May compared with a deficit of 110.4 million rials a year ago, provisional government data showed.
Analysts polled by Re