Saturday 22 November 2014
 
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Opec needs to cut output by up to 1 mbpd: delegate

The Organization of the Petroleum Exporting Countries (Opec) needs to cut its oil output by up to 1 million barrels per day (mbpd) at its meeting next week, a delegate from one of Opec's smaller producers said, as oil prices that have slid

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Iron ore and the dangers of living by the sword

The price of spot iron ore has sunk to $75.50 per tonne this week, its lowest level since 2009. The scale of the price collapse has been breath-taking. Iron ore has dropped by over 35 per cent since the start of the year, a signif

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Gold firms plan cuts to stay afloat as bullion sinks

Struggling gold producers plan increasingly drastic measures such as scrapping dividends, cutting jobs, halting projects and shutting mines to survive the latest price plunge, but not all of them will make it. Gold tumbled to a mo

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‘Opec concerned, not panicking about oil price’

Fundamental factors do not justify the sharp drop in oil prices, Opec secretary-general Abdullah Al-Badri said on Thursday, forecasting a price rebound by the second half of next year. "We are concerned but we are not panicki

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Opec shaken by Saudi price move

Saudi Arabia showed little concern for fellow Opec members by unilaterally cutting its oil prices to the US, a move that casts doubts on the group's credibility and its ability to find a common plan to stabilise the slumping energy market,

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DHA unveils price regulation model for health services

The Dubai Health Authority(DHA) has unveiled the price regulation model for health services in the private sector that will be applicable from next year. Essa Al Maidoor, director-general of DHA, said: “This model essentiall

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Oil price declines have shale investors scrambling

Plummeting oil prices are pushing some of the small-cap companies which flourished as part of the US shale energy boom close to their breaking point, while also prompting some well-known fund managers to aggressively buy energy stocks.

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Lower oil prices 'won't affect Kuwait plans'

Kuwait's oil minister said there was no negative effect on the country's development plan from lower oil prices, state news agency Kuna reported. Kuna cited Ali Al-Omair as saying that he hoped oil prices would stabilise a

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Lower oil prices 'won't affect Kuwait plans'

Kuwait's oil minister said there was no negative effect on the country's development plan from lower oil prices, state news agency Kuna reported. Kuna cited Ali Al-Omair as saying that he hoped oil prices would stabilise a

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New Gulf projects to hit $180bn, despite oil price slump

About $180 billion of contracts for new construction projects will be awarded in wealthy Gulf states this year, the largest amount for six years, despite falling oil prices, according to a recent study. Brent crude oil sank to a f

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