Middle-east Arab News Opinion | Asharq Al-awsat

Media ID: 55357255
Caption:

A labourer works at Nahr Bin Umar oil field, north of Basra, southeast of Baghdad, Iraq (Reuters / Essam Al-Sudani) / Reuters

Iraq Sets Sight on Expanding Market Share, Will Not Slow Oil Production

by Asharq Al-Awsat English | Aug 27, 2016 | Business

Willing to play a role within OPEC’s plan to support oil prices, however, Iraq will not sacrifice its chief goal of expanding market share. The oil nation will continue to increase output, its oil minister said on Saturday. OPEC’s second-largest producer,...

Media ID: 55357057
Caption:

A fuel tanker navigates near the Cienfuegos Oil Refinery some 240 kilometres, (150 miles), southeast of Havana in this file photo dated February 7, 2013. REUTERS/Desmond Boylan

U.S. Crude Down after Big Stockpile Build Report

by Asharq Al-Awsat English | Aug 24, 2016 | Business

Oil prices fell on Wednesday, with U.S. crude falling more than 3 percent, after a sudden large inventory build in the world’s biggest oil consumer renewed worries about oversupply. The U.S. Energy Information Administration (EIA) reported that crude inventories...

Media ID: 55357016
Caption:

A worker fills a tank with subsidized fuel at a fuel station in Jakarta April 18, 2013. REUTERS/Beawiharta

Oil Market Highly Influenced by Iranian Statements

by Wael Mahdi | Aug 24, 2016 | Business

Al-Khobar – There hasn’t been a day without conflicting statements regarding OPEC production freeze agreement since last week. Every time oil prices fall, an OPEC official would make an announcement that raises hopes and thus increasing the prices again. The price of...

Media ID: 55356957
Caption:

An oil field owned by Bashneft in Russia. Officials from Russia, Saudi Arabia and other major oil-producing countries will meet this weekend in Doha, Qatar, to discuss maintaining oil production at current levels. Credit Sergei Karpukhin/Reuters

Oil Bounces on Speculation of Iran Conceding to OPEC Freeze Action

by Asharq Al-Awsat English | Aug 23, 2016 | Business

Reversing early losses, oil prices bounced back on Tuesday. Reuters had reported Iran sending positive signals that it may support joint OPEC action to prop up the market. Brent crude was up 30 cents, or 0.6 percent, at $49.46 a barrel. It had fallen 1.4 percent...

Media ID: 55356798
Caption:

The company logo of the Bank of America and Merrill Lynch is displayed at its office in Hong Kong March 8, 2013. REUTERS. Bobby Yip

Changes in Oil Prices Negatively Affect Sovereign Wealth Funds

by Asharq Al-Awsat | Aug 20, 2016 | Business

London-Sovereign wealth funds pulled $16.2 billion from third-party asset managers in the second quarter, according to the latest data from research firm “eVestment,” up from a revised $10.1 billion in the first quarter. The outflows were the second largest in five...