Search result for: crude oil
Kuwait’s crude oil market experienced a notable uptick on Tuesday, with prices surging by 74 cents to reach a level of $95.18 per barrel, as reported by Kuwait Petroleum Corporation (KPC) on Wednesday. As per the Kuwait News Agency (KUNA), this increase in oil prices was accompanied by similar positive movements in global benchmarks. Brent […]
In a significant development, the price of Kuwait crude oil experienced a notable increase, rising by $2.07 to reach $77.11 per barrel.
The rise in CRUDE oil prices is providing a much-needed boost to the economy of Kuwait, which has been hit hard by the COVID-19 pandemic and the global economic downturn.
Kuwait is the fourth-largest producer of crude oil in the world, and its price movements have a direct effect on global oil markets. Kuwaiti crude oil
The agreement between Baghdad and Irbil to resume oil exports from northern Iraq is a positive development for Iraq and the global oil market.
Riyadh, September 24, 2023 – Oman’s gross domestic product (GDP) experienced a notable 9.5 percent decline in the second quarter of 2023 compared to the same period in the previous year, primarily attributed to a significant drop in oil-related activities. According to data from the National Center for Statistics and Information (NCSI), Oman’s GDP at […]
Saudi Arabia’s oil minister has firmly rejected the notion that the kingdom’s recent production cuts are aimed at artificially inflating oil prices. Speaking at the World Petroleum Congress in Calgary, Energy Minister Prince Abdulaziz bin Salman emphasized that the decisions to reduce production were based on data and market dynamics rather than an intention to […]
Hamriyah Free Zone, a prominent industrial and business hub in the United Arab Emirates (UAE), has recently announced a strategic partnership with Infinite Mining & Energy to establish a state-of-the-art and multifunctional oil refinery.
In a recent development, the price of Kuwaiti oil has witnessed a decline, dropping by US$2.15 to reach US$76.03 per barrel on Tuesday. This news comes from the Kuwait Petroleum Corporation (KPC), which released the information on Wednesday. The decrease in oil prices highlights the volatility and ever-changing nature of the global oil market. According […]
Oil prices remained steady on Friday as the market grappled with mixed signals regarding supply from Russia and Saudi Arabia ahead of the upcoming OPEC+ policy meeting