Gulf Times - crude
Iran says oil field found with 53 bn barrels of crude

Iran says oil field found with 53 bn barrels of crude

Iran has discovered a new oil field containing 53 billion barrels of crude, President Hassan Rouhani said Sunday, a find that would increase Iran's proven reserves by over a third.

Qatar trade surplus surges to QR18.99bn year-on-year in October

Qatar trade surplus surges to QR18.99bn year-on-year in October

Robust surge in the shipments of crude and non-crude helped Qatar more than double its trade surplus year-on-year to QR18.99bn in October 2018, according to official figures.

Oil rises as US sanctions on Iran stoke supply worries

Oil rises as US sanctions on Iran stoke supply worries

Brent crude oil futures rose 89 cents to $74.64 per barrel by 10:18 am EDT and US West Texas Intermediate (WTI) crude futures were up 52 cents at $69.53 a barrel.

Qatar industrial production grows 2% y-o-y in February

Qatar industrial production grows 2% y-o-y in February

The country's Industrial Production Index (IPI) reported a 2% increase year-on-year in the review period, said the figures released by the Ministry of Development Planning and Statistics (MDPS).

Iraq and BP sign deal to boost Kirkuk crude output: oil ministry

Iraq and BP sign deal to boost Kirkuk crude output: oil ministry

Iraq signed a memorandum of understanding with BP on Thursday to boost production capacity at its northern Kirkuk oilfields, the country's oil ministry said in a statement.

US gasoline prices tumble as Harvey subsides

US gasoline prices tumble as Harvey subsides

Benchmark US gasoline prices slumped on Monday to pre-Hurricane Harvey levels as oil refineries and pipelines in the US Gulf Coast slowly resumed activity, easing supply concerns.

Opec cut extension to ease glut by year-end: Algeria

Opec cut extension to ease glut by year-end: Algeria

Algeria's energy minister said on Wednesday he expects Opec to extend oil output cuts by nine months, helping to ease a global glut of crude by the end of 2017 and possibly raise oil prices to more than $55 a barrel.

Oil prices static on uncertainty over output cut

Oil prices static on uncertainty over output cut

Oil prices were little changed on Thursday as uncertainty ahead of a planned Opec-led crude production cut and thin liquidity during the US Thanksgiving holiday kept traders from making big new bets.

Oil hits fresh 2016 highs as US crude stocks fall

Oil hits fresh 2016 highs as US crude stocks fall

Oil prices edged up to fresh 2016 highs on Thursday, buoyed by a fall in US crude inventories, a weaker dollar and strong demand, although some analysts warned that the recent rally was starting to look overblown.

Opec happy with oil market, Saudi Arabia says

Opec happy with oil market, Saudi Arabia says

Saudi Arabia expressed confidence on Thursday that oil prices will keep recovering, cementing expectations that a divided Opec will decide to keep crude gushing at its meeting in Vienna.

Aramco 2015 crude output at record amid market share battle

Aramco 2015 crude output at record amid market share battle

2015 crude production climbed to 10.2mn bpd; reserves remained unchanged at 261.1bn barrels

Oil rises above $50 on signs of shrinking oversupply

Oil rises above $50 on signs of shrinking oversupply

Brent oil futures climbed above $50 a barrel on Thursday for the first time in nearly seven months on signs that a global supply glut is easing, one week ahead of an OPEC meeting.