It’s coming the trembling OPEC meeting
A fractured OPEC is meeting later this week to discuss a deal to cut oil production—yet again—to rebalance the market and lift oil prices that have recently slipped to below […]
Commodities
Qatar leaves the road, exit-strategy from OPEC
Qatar will leave the Organisation of the Petroleum Exporting Countries (Opec) next month, its energy minister said on Monday. “Qatar has decided to withdraw its membership from Opec effective January […]
Saudi Arabia ambitions on the world of gas
The world’s liquefied natural gas (LNG) market will become even more competitive within the next several years. Saudi Arabia, the world’s largest oil exporter, is now vying to become a […]
Chinese steel market under pressure
Chinese steel producers ran up losses for the first time in three years this month as prices slid into a bear market on weak demand and near-record supply, ending years […]
JP Morgan forecasts further declines for oil prices
JP Morgan has cut its outlook for oil, predicting that Brent crude prices will average $73 a barrel in 2019 — down from the investment bank’s previous forecast of $83.50 […]
Oil companies are focusing on profits
Oil industry executives are surely pleased with themselves this year, with both large and small companies reporting improved financials after years of struggling. A Reuters survey finds a significant shift […]
IMF: Gulf economy is recovering, but faces oil volatility
Economic growth in the energy-rich Gulf will recover in 2018 from a contraction last year but remains vulnerable to volatility in crude oil prices, the IMF forecast on Tuesday. The […]
Geneva: the rare pink diamond could fetch $50 million
An exceptionally rare 19-carat pink diamond goes under the hammer in Geneva Tuesday, when it could fetch $50 million (€44 million), setting a new record for a stone of its […]