oil prices

Iran Parliament Clears Oil, Foreign Ministers for Rouhani’s New Cabinet

By Babak Dehghanpisheh BEIRUT, Aug 20 – The Iranian parliament voted on Sunday to keep the oil and foreign ministers, two of pragmatist President Hassan Rouhani’s key members of cabinet, in their posts. Oil Minister Bijan Zanganeh has been credited with the boost in Iran’s crude output since many global sanctions were lifted last year

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Saudi Calls OPEC Members to Stick to Limits, Sees Oil Demand Up

By Katya Golubkova, Vladimir Soldatkin and Rania El Gamal ST PETERSBURG, Russia, July 24 – OPEC leader Saudi Arabia said on Monday the group would quickly address weak compliance with output cuts by some OPEC states and would monitor rising production from Nigeria and Libya, which have been exempted from the curbs. OPEC has agreed

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Business Outlook: ‘Make or Break’ for OPEC

 By Ole Hansen Hedge funds and oil traders in general have had a difficult quarter, particularly given the Opec/non-Opec production cut deal’s failure to boost prices. The outlook for gold, however, is more bullish given geopolitical uncertainties and policy risks. “We maintain a bullish outlook for gold in the belief that the risk to the

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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

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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

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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

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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.

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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

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