by Asharq Al-Awsat English | Jul 31, 2017 | Business
Oil prices were near two-month highs on Monday, putting July on track to become the strongest month so far this year, as news of a producers’ meeting next week added to bullish sentiment driven by the threat of US sanctions against OPEC-member Venezuela....
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...
by Asharq Al-Awsat English | Jan 6, 2017 | Business
Oil rose slightly on Friday on increased buying ahead of the weekend, but a strong U.S. dollar and lingering doubts that not all OPEC producers would cut output in line with an agreement, pressured prices. Top oil exporter Saudi Arabia, along with fellow Gulf members...
by Taha Abed alWahed | Jan 2, 2017 | Business
Moscow- Russia has relentlessly been seeking ways to counter the economic drawback caused by sanctions imposed by the West as a result of Crimea’s annexation, and a vicious standoff with Ukraine. Russia’s economy, highly dependent on the oil market suffered as the...
by Asharq Al-Awsat English | Dec 12, 2016 | Business
Oil recorded a remarkable increase of 6.5 percent on Monday to an 18-month high after OPEC and some of its rivals reached their first deal since 2001 to jointly reduce output to try to tackle global oversupply and boost prices. Futures for Brent crude were up $2.21 at...
