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Opec coasts towards smooth dealOpec, enjoying oil at just over $100 a barrel, looks set to keep its output policy on a steady course for 2013. Saudi Arabia, its top oil producer, has already set the stag More… |
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Current oil price no threat to economy: UAE ministerCurrent oil prices are "appropriate and fair" and no threat to economic growth, the new UAE energy minister Suhail Bin Mohammed al-Mazroui told the UAE's state news agency on Monday. "From the producers' poi More… |
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Oil below $100 ‘not reasonable’ says IranIran wants oil prices to stay above $100 a barrel, its oil minister said on Sunday after crude touched nine-month lows near $101 on Friday and ahead of Opec's next meeting on May 31. "An oil price below $100 is not reason More… |
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Current oil prices won't deter Asia growth: Al-NaimiCurrent oil prices will have no impact on growth in Asia, the oil minister for top exporter Saudi Arabia said on Monday, even as the region's biggest economies struggle with rising energy costs in their efforts to boost gro More… |
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High crude price could dent global recovery: IEAHigh Brent crude prices could dent a global economic recovery while Europe's economy holds the key to determining world oil demand in 2013, the chief economist of the International Energy Agen More… |
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Gulf budget surpluses likely to shrinkMost Gulf oil exporting countries' budget surpluses will shrink this year when heavy government spending and lower crude oil prices trim heir economic growth rates, a Reuters poll showed on Tu More… |
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Oman eyes $104 oil price for budget break-evenOman would need an oil price of $104 per barrel in 2013 to fund heavy spending on job creation and social welfare, said a senior government official. This 'break-even' oil price has been rising since scattered street protests ov More… |
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Oman to create 20,000 govt jobs this yearOman will continue spending heavily on job creation for its citizens this year, Finance Minister Darwish al-Balushi said on Wednesday at a news conference on the 2013 budget. "Last year we More… |
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Bahrain’s 2013 budget considers oil at $90Oil prices included in Bahrain’s 2013-2014 state budget and estimated at $90 per barrel are feasible and reflect market predictions, said a top government official. MP Latifa Al Gaoud was speaking as he chaired the parliament and More… |
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GCC non-oil growth seen at 5pc for 2013The GCC countries are expected to grow about five per cent in 2013 on a non-oil real GDP basis while oil prices will stay close to $100 per barrel keeping these countries budget finances in surplus, a report said. In a context sim More… |
