oil imports

Low Oil Prices: A New Opportunity for Gulf Cooperation

BY Omar Al Ubaydli When the founders of the Organization of the Petroleum Exporting Countries (OPEC), convened in Baghdad in 1960, they made life difficult for themselves by violating virtually all of the ideal conditions for operating a cartel. That is why, 55 years later, Saudi Arabia has made the right decision by maintaining its production,

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Burning The Midnight Oil

Saudi Arabia’s refusal to budge on oil prices has won it few friends BY Omar Al Ubaydli “You can’t run a business based on sympathies,” the controversial billionaire oil broker, Marc Rich once said. The business of oil is no different; it lubricates the region. And as the price of oil has taken a hit

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Asian Imports of Iran Oil Fall to Lowest Level in Two Years

By Aaron Sheldrick TOKYO, Nov 30 (Reuters) – Asian imports of Iranian oil fell to the lowest level in two years in October, as Iran’s biggest crude buyers held off from increasing purchases following a landmark agreement on Tehran’s disputed nuclear programme in July. Imports by Iran’s four biggest buyers – China, India, Japan and

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