Tuesday 21 October 2014
 
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Oil Prices

EU could save $80bn in imports as oil prices plunge

The European Union (EU) could save up to $80 billion in energy imports if oil prices remain low, providing some relief to households and companies in a region that has been laid low for the last five years. The price of oil has dr

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Falling oil prices 'won't hurt UAE GDP'

Falling oil prices won't hurt the gross domestic product (GDP) growth of the United Arab Emirates this year, a Ministry of Economy official told reporters on Tuesday. "Oil accounts for less than 30 per cent of our GDP, so

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Falling oil prices 'won't hurt UAE GDP'

Falling oil prices won't hurt the gross domestic product (GDP) growth of the United Arab Emirates this year, a Ministry of Economy official told reporters on Tuesday. "Oil accounts for less than 30 per cent of our GDP, so

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Saudi budget ‘unaffected by oil price drops’

Recent oil price slumps and the unrest in some of the regional oil producing nations will not directly impact Saudi Arabia’s current budget even though they might have a bearing on the kingdom’s oil revenues, a report said.

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Gulf fiscal surpluses to shrink as oil prices weaken

Gulf Arab states are likely to see shrinking fiscal surpluses over the next two years as government spending stays high while oil output and crude prices are expected to ease, a Reuters poll showed on Tuesday. Saudi Arabia's b

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Gulf fiscal surpluses to shrink as oil prices weaken

Gulf Arab states are likely to see shrinking fiscal surpluses over the next two years as government spending stays high while oil output and crude prices are expected to ease, a Reuters poll showed on Tuesday. Saudi Arabia's b

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Deepwater spend forecast to surge 130pc

Deepwater expenditure is expected to increase by 130 per cent, compared to the preceding five-year period, totalling $260 billion from 2014 to 2018, with growth driven primarily by Africa and the Americas, a report said. As produc

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Gulf economies set to post robust growth

Gulf Arab economies are likely to keep growing robustly over the next two years as government spending remains high, even though somewhat softer oil prices may cut into government revenues, a report said. Saudi Arabia's gross

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Brent set for biggest weekly gain in 2 months

Brent futures rose above $109 a barrel on Friday on expectations of steady demand growth as the manufacturing sector in China, the world's second-biggest oil consumer, expanded at its fastest pace in 18 months. The European be

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IMF warns on oil price shock for Mena

The International Monetary Fund has warned that a sustained drop in oil prices could leave many Middle Eastern and North African exporters in the red because of surging spending, a report said. The warning came in the IMF's ne

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