Tag: #OPEC
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Tensions in Arab countries, oil prices at 7-year high
Lahore: Rising tensions in the Arab world are also reported to be affecting oil prices, which have reached a seven-year high. According to Arab media, a drone strike was carried out by Houthi rebels at Abu Dhabi airport yesterday in which a Pakistani was killed. Since the attack, the price of oil has risen by…
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OPEC and allies agree to modest oil output boost
OPEC and its allies decided to maintain their policy of modestly boosting oil output next month
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OPEC+ meets under pressure from US President Biden as fears from Omicron loom
OPEC + oil producers to meet onThursday under pressure from US President Joe Biden, and a new CoVID-19 variant that has complicated the equation
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Head of IEA criticizes OPEC for failing to lower oil prices even as fears of new virus variant loom
The head of the International Energy Agency, Fatih Birol, has lashed out at OPEC for failing to bring oil prices down
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OPEC+ officials warn of response as Biden announces release of Strategic Petroleum reserves
Tapping reserves would help ease surging fuel prices and several countries are considering the move
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Abu Dhabi Offshore Exploration Block granted to consortium led by PPL
Abu Dhabi: For the first time, the UAE has offered Pakistani companies to take advantage of oil production, according to reports,Abu Dhabi National Oil Company, a group led by the state-owned Pakistan Petroleum Limited. And it will invest about 30,305 million in natural gas exploration. According to UAE sources, the UAE-based Adnoc is expanding its…
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Oil prices spike higher, stocks languish
London, March 4 (AFP/APP):Oil prices jumped higher Thursday on speculation OPEC+ nations would keep a tight lid on output, while stocks languished on interest rate worries. The OPEC group of oil producers and its allies began talks on Thursday, with all eyes on whether powerhouses Russia and Saudi Arabia can find an agreement. The so-called…
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OPEC Group and it’s Allies Meet Today
London, March 4 (AFP/APP): The OPEC group of oil producers and its allies meet Thursday with all eyes on whether powerhouses Russia and Saudi Arabia can agree on output levels following a rebound in demand and prices. While the so-called OPEC+ group is often at loggerheads over how much oil to pump into the market, a sudden plunge…
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Cabinet members resign amid dispute with parliament
13th January 2021: Kuwait’s cabinet submits resignation in a standoff with the parliament. Baaghi TV: Kuwait’s Prime Minister Sabah al-Khalid al-Sabah presented the resignation of his cabinet to the country’s ruler on Wednesday. The premier presented his resignation days before he was due to be questioned in parliament over his choice of ministers and other…
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OPEC+ Ministers Adjourn Without Deal on February Production Levels
OPEC+ ministers have adjourned without a deal on February production levels.