Brent crude oil prices shot up nearly 6 per cent on Thursday after Saudi Arabia and its Gulf Arab allies began a military operation in Yemen, although Asian importers said they were not immediately worried about supply disruptions.
A V-shaped recovery in oil prices is unlikely and Brent will average $52 per barrel in 2015 and $58 per barrel in 2016, a report said.
In the past 15 years, the global economy was defined by rising commodity prices, zero interest
Opec will not take sole responsibility for propping up the oil price, Saudi Arabia's oil minister said on Sunday, signalling the world's top petroleum exporter is determined to ride out a market slump that has roughly halved prices since
Qatar is proceeding with planned economic development projects despite cheaper oil and is prioritising those related to health, education and transport, finance minister Ali Sherif Al-Emadi said on Sunday.
"Despite the drop i
The manager of one of the world's best-performing mutual funds, the Dubai-based Daman Fifth Fund, says there is still plenty of upside in Gulf Arab markets despite the plunge of oil prices.
Daman Fifth was ranked the top-perfo
Kuwait has sought help from the International Monetary Fund (IMF) to introduce corporate taxes in a bid to diversify revenue in the face of falling oil prices, a senior government official said.
"The IMF will prepare a prelim
Saudi Arabian Oil Minister Ali Al-Naimi said on Wednesday he hoped and expected the oil market to balance and prices, which hit a near six-year low in January, to stabilize.
In a speech, he said his country was committed to helpin
Low oil prices are slowing or reversing deposit growth at Gulf Arab banks, but not enough to cause the liquidity squeeze that bankers fear.
Deposits from governments, quasi-government bodies and national oil companies provide arou
Regional bosses of multinational companies (MNCs) expect to invest in Oman in the coming three years despite lower oil prices, according to the latest briefing from Emerging Markets Intelligence & Research (EMIR).
EMIR is a su
Opec has no plans to hold an emergency meeting before its next scheduled gathering in June, two of the organisation's delegates said on Tuesday.
Nigerian Oil Minister Diezani Alison-Madueke told the Financial Times in comments