Gulf Times - oil
Saudi attacks raise spectre of oil at $100

Saudi attacks raise spectre of oil at $100

The oil market will rally by $5-$10 per barrel when it opens today and may spike to as high as $100 per barrel if Saudi Arabia fails to quickly resume oil supply lost after attacks over the weekend, traders and analysts said.

Oil drops as recession risks mount with trade war tariffs

Oil drops as recession risks mount with trade war tariffs

Oil prices fell on Monday, pushing US crude to the lowest in more than two weeks, as an intensifying trade war between the US and China undermined confidence in global economic growth.

Portuguese police escort fuel tankers as drivers strike

Portuguese police escort fuel tankers as drivers strike

Portuguese police escorted fuel trucks on Monday to supply petrol stations at the start of a tanker drivers' strike, an AFP reporter said.

Oil steadies above $62 as OPEC cuts counter growth concerns

Oil steadies above $62 as OPEC cuts counter growth concerns

Oil steadied above $62 a barrel on Tuesday as firmer equities and expectations OPEC and its allies will keep withholding supply countered concern about slowing economies and demand.

Two Shell oil worker hostages freed in Nigeria: police

Two Shell oil worker hostages freed in Nigeria: police

Two Shell oil workers kidnapped in Nigeria's restive oil-rich south have been freed, six days after they were seized by gunmen who killed their guard and driver, police said Wednesday.

Oil surges amid Opec caution to offset Iran sanctions

Oil surges amid Opec caution to offset Iran sanctions

Oil prices hit their highest in about six months on Tuesday as sources said Gulf Opec members were ready to raise output only if there was demand before offsetting any shortfall following a US decision ...

Tunisian workers kidnapped in Libya

Tunisian workers kidnapped in Libya

Militiamen have kidnapped a group of Tunisian workers near the Libyan capital Tripoli, demanding Tunis release a comrade, the foreign ministry and a rights activist said.

Opec, Russia close to slashing oil output despite US pressure

Opec, Russia close to slashing oil output despite US pressure

Opec and its Russia-led allies moved closer on Friday to clinching a deal that would cut oil production by more than the market had expected despite pressure from US President Donald Trump to reduce the price of crude.

The year airlines answered to oil

The year airlines answered to oil

“The volatility of the oil price has been really tremendous. It remains our utmost concern” Sebastian Mikosz, CEO of Kenya Airways said, at the company’s annual meeting earlier this year.

Trump asks OPEC not to cut production

Trump asks OPEC not to cut production

US President Donald Trump on Wednesday urged OPEC members not to slash production at their upcoming meeting, saying global oil prices should remain low.

OPEC says India oil demand to rise by 5.8 mn bpd by 2040

OPEC says India oil demand to rise by 5.8 mn bpd by 2040

India's oil demand is expected to rise by 5.8 million barrels per day (bpd) by 2040, accounting for about 40 percent of the overall increase in global demand during the period, OPEC's secretary general said on Friday.

US, Brazil fine Petrobras $853 mn in bribery scandal

US, Brazil fine Petrobras $853 mn in bribery scandal

US and Brazilian authorities have fined Brazil's state oil giant Petrobras more than $853 million for covering up a massive bribery scheme involving Brazilian politicians and political parties ...