Search result for: crude oil
The recent rebound in oil prices was largely due to a healthy US jobs report for April, which helped to ease concerns about a potential US economic recession.
Oil prices experienced a decline as concerns over global economic growth outweighed the positive impact of production cuts made by OPEC+ members.
The strategies and policies adopted by the UAE government to mitigate the effects of oil price volatility on the economy The UAE’s economy has long been heavily dependent on oil revenues, with crude oil and petroleum products accounting for the majority of its exports and government revenue. However, the country has recognized the need to […]
Kazakhstan, a major oil producer in Central Asia, has increased its oil exports by bypassing Russia, traditionally a key transit country for the country’s crude.
Dirham has been a cause for concern among investors in India as the decline in its value against the Indian rupee makes imports more expensive, which could lead to higher inflation and put pressure on the Reserve Bank of India to raise interest rates.
Saudi Arabia raises prices for crude oil sales to Asia is being seen as a sign of the global oil market’s recovery from the impacts of the COVID-19 pandemic.
Brent crude futures dropped $2.01, or 2.4%, to $80.77. Earlier in the day, the global benchmark hit a session low of $78.34, marking its lowest price since early January. Meanwhile, U.S. West Texas Intermediate crude futures (WTI) fell $1.88, or 2.5%, to $74.80 a barrel. WTI had earlier hit a low of $72.30 a barrel, […]
Brent crude, the international oil benchmark, dropped by up to 2.8% on Friday morning in New York after reports that the United Arab Emirates (UAE) is considering leaving the Organisation of the Petroleum Exporting Countries (OPEC), a powerful oil producer alliance consisting of 13 members. However, Brent later regained its losses and turned positive, trading […]
ADNOC L&S is a global leader in the transport of liquefied natural gas (LNG), crude oil, and other petroleum products.
Prime Minister Narendra Modi and UAE President Sheikh Mohammed Bin Zayed Al Nahyan jointly unveiled the Unified Payments Services (UPI) RuPay card service in Abu Dhabi on Tuesday. A video circulating on social media captured the moment President Al Nahyan made a payment using a plastic card bearing his name, signifying the official launch of […]
