oil prices

Oil Producers Defer the Inevitable

OPEC’s approach is similar to the Fed’s rate hike strategy By Noureldeen Al Hammoury  Throughout 2015, global markets swung back and forth as analysts waited for the U.S. Federal Reserve to implement a rate hike. The much awaited decision in spring was rolled over and then moved again till December when the hike was finally

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Saudi-Iran Tensions Scupper Deal to Freeze Oil Output

By Rania El Gamal and Reem Shamseddine DOHA, April 18 – A deal to freeze oil output by OPEC and non-OPEC producers fell apart on Sunday after Saudi Arabia demanded that Iran join in despite calls on Riyadh to save the agreement and help prop up crude prices. The development will revive oil industry fears

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Market Outlook: Boom or Bust?

Uncertainty masks the fate of global economy amid lack of action from the world’s leading powers BY Ahmad Khatib It has been the first quarter of rebounding indices. After its worst first week of a year in history, the Dow Jones industrial average managed to rebound and complete its best quarterly comeback since 1933. Other

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Turkish Firms in Russia Struggle as Diplomatic Row Rages

By Alexander Winning MOSCOW, March 30 – Four months after President Vladimir Putin accused Ankara of a “stab in the back”, Turkish business executives in Russia are getting used to saying hasty goodbyes. “Every week another friend calls to say he’s leaving,” one Turkish businessman based in Moscow told Reuters. “It’s become very difficult for

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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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Gulf Business: Rewarding Risk

Gulf stocks might be showing weakness, but there’s no need to panic BY Tarek Fadlallah Fortune favors the bold; and the Arab Gulf is no different. The past few months have seen an inclination on the part of investors to bargain-hunt Arab Gulf stocks into technical weakness (a proactive trading strategy in which a trader

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April Oil Freeze Meeting May Go Ahead Without Iran

By Rania El Gamal and Alex Lawler March 16 – Oil producers including Gulf OPEC members still support holding a meeting next month to discuss a deal to freeze output even without Iran, OPEC sources said, as political pressure to prop up prices increases. On Monday, Russian Energy Minister Alexander Novak said after talks in

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Saudi Arabia Seeks $6-8 bln Bank Loan to Shore Up State Coffers

By Archana Narayanan DUBAI, March 9 – Saudi Arabia is seeking a bank loan of between $6 billion and $8 billion, sources familiar with the matter told Reuters, in what would be the first significant foreign borrowing by the kingdom’s government for over a decade. Riyadh has asked lenders to submit proposals to extend it

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Oil’s Squeeze Spreads From Gulf States To Banks

By David French and Tom Finn DUBAI/DOHA, March 6 – Low oil prices are forcing Gulf states to borrow to prop up their economies and are now taking their toll on the region’s banks too, complicating their efforts to raise capital required by regulators. The impact of crude’s fall from more than $100 to below

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Balancing Act

By Tarek Fadlallah The maxim not to fight the Fed has proved sound so it’s no surprise that investors have been agonizing over the apparent end to easy money and, by implication, the era of central bank-led asset inflation. The Fed’s action to hike its key interest rate in December is perhaps understandable in the

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