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Opec, allies likely to ease output as oil hits $80Organisation of Petroleum Exporting Countries (Opec) and its allies are likely to gradually revive oil output in the second half of the year to ease consumer anxiety as prices trade near $80 a barrel, said Saudi Energy Minister Khalid Al Falih More… |
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Gulf bourses may shrug off Moody's outlookStock markets in the Gulf look set to rise on Sunday, shrugging off Moody's decision to cut its outlook for the debt ratings of several Gulf states, after oil prices rallied further on Friday. Saudi Arabia's Aa3 rating was More… |
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Opec magazine op-ed 'fuelled oil rally'An Opec (Organization of the Petroleum Exporting Countries) publication written by the exporter group's public relations team helped oil prices jump and prompted speculation over a possible shift in output policy - to the bafflement of some More… |
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Oil rally ‘will pause until Iran cuts’Slowing global seasonal oil demand and a potential release of emergency stockpiles by consuming nations will slow the oil price rally in coming months, before sanctions on Iran start affecting global supply, a Reuters poll showed on Thursday. More… |
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Oil rises above $34 on US mortgage planOil prices rose above $34 a barrel on Friday, snapping a five-day losing streak, as a late rally in US equities on news that the government was working on a mortgage plan for troubled homeowners helped lift sentiment. But lingering worries More… |
