Tag Archives: Gulf News

The OPEC+ agreement and the additional oil output cuts announced this week will push GCC budgets even deeper into deficit, according to Fitch Ratings. Saudi Arabia said on Monday it would add to existing cuts by reducing output by another 1 million bpd next month — equivalent to 1 per …

Saudi Arabia’s outlook was cut to negative from stable by Moody’s Investors Service after the crash in oil prices exposed the vulnerability of the kingdom’s finances amid the global pandemic and its reserves plunged to the lowest level in almost a decade. The rating company kept the sovereign at A1, …

One of the world’s fastest-growing commodity markets is under great pressure — but it’s healthy. LNG prices are depressed amid destruction in demand, in large part due to the Covid-19 pandemic stalling the global economy. The first big economic punch to the LNG gut started with swathes of virus cases …

Oil prices could find themselves going much lower in the next few days and weeks before bottoming out – as low as $10 – with prices eventually recovering to find support at a price range between $30-$40 as the COVID-19 outbreak starts to slow down. “With the additional quarantines that …

Oil has plunged nearly 30% as Saudi Arabia cut its official selling price (OSP) after OPEC’s supply cut pact with Russia collapsed. Over the weekend, Saudi Arabia had cut its OSP for April for all crude grades to all destinations by between $6 and $8 per barrel. The world’s second-largest …

Qatargas is delighted to conclude this new SPA with Shell.

Saudi Arabia’s state oil company has made deep cuts to the price of crude it sells to Asia.

China is. by far. the biggest market for OPEC+ crude exports. with the big Arabian Gulf producers particularly vulnerable.

China is the oil market’s primary source of demand growth and measures taken to slow the spread of the coronavirus.

The sale can fetch the government between 850 billion rupees to 900 billion rupees should the IPO get done this year.