Wednesday 22 November 2017
 
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Oil Prices

Oil gains as US stockpiles decline, Opec cuts weigh

Oil extended gains on Thursday as signs of declining US stockpiles and ongoing supply cuts led by Opec pointed to healthy demand while investors weighed potential disruptions to supply because of global geopolitical tensions. Futu

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Saudi Aramco IPO set for 2018, says oil minister

Saudi Arabia is still aiming to complete both international and domestic portions of the initial public offering of Aramco, in 2018, reported state news agency Wam, citing the Saudi Oil Minister Khalid Al Falih. He was sp

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Saudi Aramco says no plans to shelve $2trn listing

Saudi Aramco has dismissed reports that it is considering shelving plans for the world’s biggest ever flotation, with the state-owned oil company saying the $2 trillion listing was on track for next year. Amid concerns about

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Abu Dhabi's GDP set to hit $231bn in 2017

Standard & Poor’s has forecast Abu Dhabi GDP to rise to Dh850 billion ($231.3 billion) and Dh890 billion ($242 billion) at current prices in 2017 and 2018 respectively, attributing the growth to the momentum witnessed by the oil and no

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ME economic growth prospects improve for 2018: PwC

While the economic and fiscal outturns for the first half of the year are less than anticipated, momentum is building in key parts of the region, suggesting stronger economic growth could return in 2018, said an industry expert. R

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Hurricane Harvey ‘will test rangebound oil price’

Brent prices have not deviated by more than $5 from $50 since the first quarter of 2016 on a quarterly basis, but Hurricane Harvey will test that rangebound trend, said Barclays, a leading British financial services provider. &nbs

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UAE economy to bounce back as oil prices recover, says IMF

The UAE is weathering the post-2014 oil shock well and the country's economic activity is expected to strengthen gradually in the coming years with firming oil prices and other global indicators, and an easing pace of fiscal consolidation, a

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Opec, non-Opec conformity level hits 106pc

Organization of the Petroleum Exporting Countries (Opec) and the participating non-Opec countries have recorded the highest conformity ever with their voluntary adjustments in production, achieving a level of 106 per cent, reported AzerNew

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Oil likely to hover at around $55 in 2017-2018: IMF

The International Monetary Fund (IMF) expects global oil prices to keep at around $55 per barrel in 2017-2018, according to the latest World Economic Outlook report released on Tuesday. The average price of crude oil amounted to $

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Business confidence in Mideast hits 2-year high

Business confidence in the Middle East rebounded strongly in the first quarter of 2017, in line with the fastest rate of growth in global trade since 2015, according to the latest edition of the Global Economic Conditions Survey.

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