Middle-east Arab News Opinion | Asharq Al-awsat

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The Kingdom of Libya flag flies in front of a refinery in Ras Lanuf in this March 8, 2011, Reuters

Shell Lifts Libya’s First Shipment in Five Years, Nigeria’s Exports to Drop in October

by Asharq Al-Awsat | Aug 20, 2017 | Business

London- Royal Dutch Shell has lifted a cargo of 600,000 barrels of crude oil from Libya’s Zueitina port, its first from the war-torn north African country in 5 years, two industry sources told Reuters on Saturday. “Libya is a significant resource holder...

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A gas station worker fuels a vehicle in Tokyo August 26, 2015. REUTERS/Toru Hanai

Oil Rates Rise on OPEC Production Cuts

by Asharq Al-Awsat English | Jan 31, 2017 | Business

Oil rates witnessed an increase of some 2 percent on Tuesday after news OPEC oil production has fallen sharply this month and the dollar sank. “This is very high, a good number,” an OPEC source said of the January compliance estimate. The dollar was down...

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Screen at a trading post on the floor of the New York Stock Exchange is juxtaposed with the Goldman Sachs booth. AP

Goldman: ‘U.S. Oil Price to Surpass Brent by BTA

by Asharq Al-Awsat | Jan 25, 2017 | Business

London – The push by Republicans in the U.S. House of Representatives for a shift to border-adjusted corporate tax (BTA) could drive U.S. crude prices higher than the global benchmark Brent, triggering large-scale domestic production, according to analysts at...

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Federal Reserve Board Chair Janet Yellen answers a reporter’s question during a news conference about the Federal Reserve’s monetary policy, Dec. 14, 2016, in Washington. / AP

U.S. Federal Reserve Raises Interest Rates

by Asharq Al-Awsat | Dec 15, 2016 | Business

London – U.S. Federal Reserve decided to raise interest rates for the first time in 2016 since the election of Donald Trump, and the second time in a decade. The bank voted unanimously to raise the U.S. central bank’s target range for the federal funds rate to 0.50 to...

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A Whiting Petroleum Co. pump jack pulls crude oil from the Bakken region of the Northern Plains near Bainville, Mont. on Nov. 6, 2013. AP

Brent Exceeds $52 and OPEC Aims for Shale

by Sabri Najeh | Oct 6, 2016 | Business

Cairo–Following OPEC’s historic agreement at the Algiers meeting to cut down production, oil demand was on the rise, reaching $52 per barrel. U.S. Energy Information Administration (EIA) said U.S. crude stockpiles fell last week despite slow refinery activity...