Saudi Arabia steeply cut its January oil prices for Asian and US buyers yesterday, a move some analysts said showed it was stepping up a battle for market share a week after refusing to support Opec output cuts.
Official Selling P
Bahrain's economy grew by 5.1 per cent in constant prices and 4.7 per cent in current prices in the third quarter of this year, compared with last year.
“The growth momentum covered all oil and non-oil economic sectors,&
Gold fell on Friday on the back of a slump in oil prices, with strength in the dollar piling further pressure on the metal ahead of a referendum on the management of Swiss bullion reserves this weekend.
Oil prices posted their sha
US oil and gas producer Apache Corp, one of the largest foreign investors in Egypt, hopes to reach an agreement with Cairo on higher gas prices by the end of the year and is encouraged by what it considers greater government transparency.
Qatar has become the latest Middle East oil producer to cut prices by more than $1 a barrel in an attempt to revive demand for its crude in Asia.
Qatar, one of the smallest producers in Opec, has cut the Septem
Brent crude fell below $88 a barrel on Tuesday, returning to a nearly four-year low hit the day before, after the world's energy watchdog cut its estimates for oil demand this year and next.
The global oil benchmark has droppe
Iraq has cut its November oil prices for customers in Asia and Europe following a similar move by top global exporter Saudi Arabia as Opec producers compete for market share in the face of weaker global oil demand and prices.
Saudi Arabia is quietly telling oil market participants that Riyadh is comfortable with markedly lower oil prices for an extended period, a sharp shift in policy that may be aimed at slowing the expansion of rival producers including t