oil prices

The Oil Guru

In an interview with Newsweek Middle East, international oil expert and World Bank Consultant Dr. Mamdouh Salameh expected crude prices to reach $60 per barrel by this year’s end or as early as next year, before rising to $70/barrel in 2017. According to Salameh, Saudi Arabia’s past policy of flooding the oil market with supply

[ Read More ]

Kuwait’s Emir Tells New Parliament Austerity is Inevitable

KUWAIT, Dec 11 – Cutting public spending has become inevitable because of the sharp drop in oil prices, Kuwait’s emir on Sunday told a new parliament that was elected partly by voters protesting against austerity policies. Kuwait is seeking to plug a budget deficit officially projected at 9.5 billion dinars ($31 billion) for the current

[ Read More ]

The Borrowing Spree

Arab Gulf oil exporters to issue more debt in 2017 By Martin Dokoupil  Arab Gulf oil exporters are likely to continue borrowing heavily from international markets over the coming years as fiscal gaps in most countries are expected to remain large with a marked recovery in oil prices not on the cards for the foreseeable future. But

[ Read More ]

Business Outlook: Trump Presidency’s Impact on Gold and Oil Outlooks

By Hussein Sayyed Since the day that President-elect Donald Trump unexpectedly won the U.S. elections, the sliding gold price has signaled an unanticipated risk on investor mood. Instead of money flowing to safe-haven investments like gold, it appears that the markets are instead taking confidence from the end of uncertainty over who will lead the U.S.

[ Read More ]

Business Outlook: Precious Metals Surge, Oil and Gas Plunge

By Ole Hansen In gold we trust. At least up until the election. Precious metals gain on election fears, but oil and gas hammered We still believe that Opec will reach a deal of some sort Bloomberg commodity index had its worst week in four months Zinc hits a five-year high as Chinese data improves Cost

[ Read More ]

GCC: Rethinking Alliances

The shifting sands of the GCC’s geostrategic environment By Adel Abdel Ghafar Two decades of an almost uninterrupted rise in hydrocarbon prices allowed the states of the Gulf Cooperation Council (GCC) to invest in infrastructure, education and health, as well as provide generous subsidies for their people. Fueled by high energy prices, ambitious rulers not

[ Read More ]

OPEC, Key Producers to Discuss 6-month Oil Deal

By Rania El Gamal and Olesya Astakhova ISTANBUL, Oct 12 – OPEC will hold talks with non-member oil producers on Wednesday in a bid to hammer out details of a global agreement to cap production for at least six months as Russia lent its support for the plan. Ministers from OPEC members embarked on a

[ Read More ]

Oil Eases off Four-Month High as Speculators Doubt Deal to Cut Output

By Karolin Schaps LONDON, Oct 11- Oil eased off four-month highs on Monday as doubts over oil producers reaching a meaningful output cut deal brought some speculators to unwind bullish bets. Global benchmark Brent crude futures were down 23 cents at $51.70 a barrel at 0848 GMT, more than 2 percent lower than the four-month

[ Read More ]