The net foreign reserves at Saudi Arabia's central bank fell to SR2.492 trillion ($664.5 billion) in June, down 1.2 per cent from May to their lowest level since March 2013, central bank data showed on Thursday.
Big oil companies had a poor record of finding and producing oil and gas last year, according to figures out in the past week - and big cuts in spending in response to falling crude prices could undermine their plans to turn that around.
The Basel global banking supervisory body has proposed introducing a standardised model to calculate a minimum level of capital banks would need to keep in reserve.
The so-called capital floor 'will be based on revised standar
State oil giant Saudi Aramco expects to have 900 billion barrels of oil resources by 2025, up from the current 790 billion barrels, a company executive said on Tuesday.
Current recoverable crude oil and condensate reserves stand a
US exploration and production companies are finding accumulations of crude and condensates twice as fast as they are producing them, according to statistics published this week.
Proved reserves of crude stood at 30.5 billion barre
Iraq's oil exports rose to 2.6 million barrels per day (bpd) on average in September, the highest in more than three decades, compared to 2.565 million bpd in August, an Iraqi oil ministry spokesman said on Monday.
Egypt is getting closer to the brink. A trickle of aid has been enough to keep the economy on life support since the uprising 18 months ago, but the ongoing tussle between the country's military and its Islamist president i
China's central bank cut the amount of cash that banks must hold as reserves on Saturday, pumping out more funds that could be used for lending to head off sharper slowdown in the world's second-largest economy.
The People's Bank of China