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Oil

  • Daily Wrap Up 5 November 2021

    5 Nov 2021 05:00 PM |

    Last month the Associated British Foods (ABF) share price fell to an 11 month low as the company confirmed that its clothing division, Primark, experienced lower than expected sales during the summer.

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  • Daily Warp Up 09 August 2021

    9 Aug 2021 04:56 PM |

    European stock markets are mixed as traders lock in some profits that were achieved last week.

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  • Barkindo: new members shall join output cuts agreement

    10 Oct 2017 09:50 AM |

    Mohamed Barkindo, Secretary General of OPEC, made the following statement:

    • Global demand in 2018 is still expected to reach 1.4 million bpd.
    • Stocks stabilized at an average of 5 years at 171 million barrels in August compared with 338 million barrels at the beginning of the year and dominated by crude.

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  • The Secretary General of OPEC sees the need for extraordinary measures to rebalance market

    9 Oct 2017 11:04 AM |

    Mohamed Barkindo, Secretary General of OPEC, made the following statement:

    • OPEC and other oil producers may need to take extraordinary action next year to restore market equilibrium.
    • There is a growing consensus that the market equilibrium process is under way.

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  • Daily wrap up – 5 October

    5 Oct 2017 09:59 PM |

    The US dollar rose today to its highest level in seven weeks as the dollar index reached 93.81 in the light of the continued positive data from the US economy and remains waiting for employment data tomorrow which affected by the recent hurricanes. Today's data showed that the trade deficit shrank for August as exports rose to a two-and-a-half year high.

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  • Russia continues to work with Saudi Arabia on the production reduction agreement

    4 Oct 2017 02:44 PM |

    Russian Foreign Minister Sergei Lavrov said that Moscow would like to continue working with Riyadh on the implementation of the agreement to reduce the world oil production. The remarks came ahead of King Salman's visit to Russia, where the Russian foreign minister praised the cooperation between the two countries in helping to reach an agreement between OPEC and non-OPEC oil producers to cut production until the end of March 2018.

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  • Daily wrap up – 2 October

    2 Oct 2017 10:54 PM |

    The beginning of the first week of the last quarter of 2017 was very inflammatory. Catalonia held a referendum on secession from Spain and the approval rate reached 90%, but the Spanish government rejected that referendum and considered it illegal. The European Commission supported that view, calling on all parties to sit at the dialogue table.

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  • Daily wrap up -26 September

    26 Sep 2017 09:02 PM |

    On the economic calendar today, the most prominent headline was Janet Yellen, FED Governor speech, entitled "Inflation, Uncertainty and Monetary Policy", warning FOMC from moving too gradually and confirmed that the Fed able to meet the inflation target of 2%, and not considering changes in the target, noting that it is the uncertainty that strengthens the policy of gradually rate hike, which she supports despite the weakness of inflation.

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  • Daily wrap up – 25 September

    25 Sep 2017 06:48 PM |

    The start of the week was dramatic for the euro, despite the success of Angela Merkel for a fourth term during the German federal elections on Sunday, September 24, the Christian Democratic Union (CDU) and the Christian Social Union (CSU) win 33% of the vote. The ruling party's current partner the Social Democratic Party (SDP) printed the worst result since the Second World War by getting 20.5%, prompting the leader of the party to describe this day by bitter today, and the shock was in the success of the far right-wing party to enter parliament for the first time in half a century, represented by the Alternative for Germany Party (AFD), which has not been established for 4 years.

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