Oil steadies as Saudi, Kuwait signals offset demand fears
Oil prices were little changed on Monday as expectations that major producers would continue to reduce global supplies ran into worries about sluggish growth in crude demand due to the U.S.-China trade war. International benchmark Brent crude settled at $58.57 a barrel, up 4 cents. West Texas Intermediate (WTI) futures settled at $54.93, up 43 […]
Oil hits 2-year high after Saudi Prince kicks-out officials in anti-graft probe
Oil traded near the highest level in two years, since July 2015, after Saudi Arabia’s Crown Prince, Mohammed bin Salman, ousted officials during an anti-graft probe in the world’s biggest crude exporter. Futures rose as much as 1.2 percent in New York, gaining for a third session. The purge by the prince, known overseas as […]
Qatar’s economy “better than ever,” despite blockade, economy minister says
Ahmed Bin Jassim Al-Thani, Qatar’s Economy and Trade Minister, said Monday that the country’s economy which has been blockaded by a number of major Arab nations since June 5, is faring “better than ever.” The minister told CNBC that the embargo imposed by Saudi Arabia, the United Arab Emirates, Egypt, and Bahrain, was instead an “opportunity” which […]
OPEC, non-OPEC could deepen oil cuts –Kuwait
OPEC and non-member oil producers could deepen output cuts or extend them for a year when they meet in Vienna this week as they seek to clear a global stocks overhang and prop up the price of crude, Kuwait said on Wednesday. The top oil producer in OPEC, Saudi Arabia, favours extending the output curbs […]