Brent crude oil prices steadied above $60 a barrel in early Asian trading on Tuesday, supported by traders entering the market after prices dropped sharply in the previous session on the back of record US stocks.
Brent futures fel
Iraq's oil exports rose in February to an average 2.597 million barrels per day (bpd) from 2.535 million bpd in the previous month, the oil ministry said in a statement.
Exports from Iraq's southern terminals reached 2.293
The oil rich countries in the Gulf - Saudi Arabia and Kuwait - are receiving relatively high foreign direct investment in the Middle East, according to a report.
The report developed by Deloitte in conjunction with the Social Prog
Energy Minister Taner Yildiz said on Monday Turkey will explore for oil in the Qandil region of Iraq and that a move towards disarmament by the outlawed Kurdistan Workers Party (PKK) should pave the way for this to happen.
An oil tanker from Iraqi Kurdistan that was blocked for months from unloading in Texas by a Baghdad legal challenge has sailed back to the Mediterranean and delivered its cargo to Israel, according to trading sources and ship-tracking data.
Asian imports of Iranian crude fell nearly 22 per cent from a year ago to below 1 million barrels per day (bpd) in January, led by cuts in India, where refiners had been asked to curtail orders ahead of a visit by US President Barack Obama.
Cuts in public spending, the widespread introduction of taxation and rising levels of unemployment are set to hit Bahrain over the coming decade, according to a report.
Cuts in public spending, the widespread introduction of taxat
Qatar’s plans will not be affected by lower oil price, but there may be more opportunities for private finance to play a role in the country’s infrastructure, according to experts.
Mamoon Alameen, a specialist on proje
Crude oil futures rebounded on Friday, with Brent heading for its biggest monthly gain since May 2009, as supply outages in North Sea and renewed fears of gas supply disruption in Europe supported prices.
A reduction in rig counts
Top oil exporter Saudi Arabia is expected to raise the official selling price (OSP) for most of its crude grades to Asia in April, including a hike in the OSP for Arab Light to a four-month top, in line with a stronger Dubai market.