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Business Published 05 Jan, 2022 10:27pm

Oil rises more even as OPEC+ lifts output, U.S. fuel demand slips

Brent crude futures rise $1.27, or 1.6%, to $81.26 a barrel

Business Published 04 Jan, 2022 10:11pm

OPEC, allies agree on another modest oil output hike

A similar hike had been approved at their December meeting despite the emergence of Omicron

Business Updated 03 Jan, 2022 03:12pm

OPEC+ report sees short-lived, mild impact from Omicron variant

OPEC+ expects the impact on the oil market from the Omicron coronavirus variant to be ...

World Published 31 Dec, 2021 06:56pm

Oil prices rise slightly ahead of OPEC+ meeting next week

NEW YORK, Dec 30 (Reuters) - Oil prices rose slightly on Thursday on expectations that fuel demand held up despite...

World Published 29 Dec, 2021 02:32pm

Oil settles higher despite Omicron concerns

Oil prices settled higher on Tuesday, with Brent crude ending the session near $80 a barrel despite the rapid spread...

Business Published 28 Dec, 2021 09:49pm

Brent near $80 as market shrugs off Omicron

The three oil producers declare force majeures this month on part of their oil production

Business Published 05 Dec, 2021 06:52pm

Saudi Arabia raises January Arab Light crude prices to Asia

The company set the Arab Light OSP to Northwestern Europe at minus $1.30 per barrel versus...

Business Published 03 Dec, 2021 05:57pm

Oil rises as OPEC+ poised to act if demand weakens

LONDON: Oil prices climbed on Friday after the producer group OPEC+ said it could review its production hike policy...

Business Published 30 Nov, 2021 07:14pm

OPEC+ to meet as Omicron sparks price turmoil

The OPEC+ alliance has resisted US-led pressure to step up production to bring down surging...

Pakistan Published 27 Nov, 2021 02:15pm

Decline in oil prices to bode well for Pakistan’s economy: Fawad

Federal Minister for Information and Broadcasting Fawad Chaudhry said that the drop in oil prices would bode well ...

Business Published 24 Nov, 2021 05:57pm

Govt in talks with petroleum dealers ahead of countrywide strike

Fuel to be available at govt-owned petrol stations as energy minister tries to stave off potential shutdown

Business Published 22 Nov, 2021 03:57pm

Oil prices under pressure from both supply and demand factors

By Bozorgmehr Sharafedin LONDON:Oil prices rose on Monday but remained under pressure from rising COVID-19 cases in...

Business Published 18 Nov, 2021 08:49pm

Oil near six-week low as China readies crude reserve release

The bid by the US to cool markets, asking China to join a coordinated action for the first time, comes as...

World Published 03 Nov, 2021 09:41pm

Iran says stopped US Navy seizing tanker in Sea of Oman

ran's elite Revolutionary Guards said they had thwarted an attempt by the US Navy to seize a tanker in the Sea of Oman.

Business Published 25 Oct, 2021 08:53pm

Oil prices reach multi-year highs on tight supply

The global energy supply crunch continues to show its teeth, as oil prices extend their upward march this week.

Business Published 18 Oct, 2021 12:03pm

Oil prices climb as COVID recovery, power generators stoke demand

By Jessica Jaganathan SINGAPORE: Oil prices hit their highest level in years on Monday as demand recovers from the...

Business Published 16 Oct, 2021 01:58pm

Oil prices rise to three-year high on back of supply deficit forecasts

By Laura Sanicola Oil prices settled at a three-year high above $85 a barrel on Friday, boosted by forecasts of a...

Must Read Published 16 Oct, 2021 11:11am

Pakistani Twitter responds to PTI govt's new "petrol bomb"

It's no surprise that Pakistani social media users have taken to Twitter to decry the "petrol bomb" dropped on...

Business Updated 16 Oct, 2021 12:03pm

Oil market still faces uncertainties due to COVID-19, OPEC chief says

The oil market continues to face uncertainties stemming from the COVID-19 pandemic, OPEC Secretary General Mohammad...

Business Updated 13 Oct, 2021 02:40pm

Oil steadies as energy crunch stirs up volatility, recovery concerns

By Stephanie Kelly NEW YORK:- Oil steadied after a volatile session on Tuesday, pausing a rally that has brought...

Business Published 12 Oct, 2021 11:50am

Oil rises for fourth day amid energy crunch

By Aaron Sheldrick Oil prices reversed early losses to extend gains on Tuesday into a fourth day amid a rebound in...

Business Published 11 Oct, 2021 10:51pm

Rising demand pushes oil to fresh multi-year peaks

The recent decision by OPEC and other major producers not to ramp up output has further strained global supplies.

Business Published 05 Oct, 2021 05:31pm

Oil strikes new peaks, boosting European equities

OPEC and other major producers opted against increasing output by more than previously...

Business Published 28 Sep, 2021 10:49pm

Stocks dip as oil tops $80 mark

Brent crude oil briefly jumped above $80 per barrel for the first time in almost three years on expectations for...

Business Updated 25 Sep, 2021 01:17pm

Worldwide energy shortage shows up in surging coal, gas and oil prices

LONDON:Record gas and electricity prices in Europe, record coal prices in China, multiyear-high gas prices in the...