OPEC

The bill says that if any energy company colludes with OPEC, it would no longer be eligible for new oil and gas leases

Worries over slow demand growth in top oil importer China have weighed on prices

Oil set for weekly loss as markets worry about demand

Iran’s downplaying of Israeli attack brings relief to market

Recent data emanating from China has suggested weakening demand

Pakistan received $2.408b from multilateral creditors, 794.6m from bilateral creditors during seven month period

Russia’s decision to cut oil output and exports surprises analysts

Higher-for-longer rates could dampen economic growth, suppress demand for oil

IEA predicts oil demand will peak by 2030 as world shifts to cleaner energy

Halt in oil expansion plan to reach net zero emissions by 2060

Company head believes new OPEC+ supply cuts will balance market

Small Gulf states on eastern coast of Arabian Peninsula were originally part of Arabia

Oil climbed after falling 3% previous day as more shipping firms prepared to transit Red Sea route

Angola’s decision to leave OPEC raises questions over group’s effectiveness in supporting prices

Angola’s oil production is around 1.1 million bpd.

Summit President Sultan Al Jaber calls accord 'historic'

Oil cartel added fuel to fire after its Kuwaiti official urged members to reject language that targets fossil fuels

Riyadh, Moscow call for all OPEC+ members to join output cuts

Saudi Arabia and Russia urge all OPEC+ members to adhere to output cuts for global economic stability

Primary reason for fall in global growth is tightening cycle employed by central banks

Crude benchmarks on track to post weekly gains

Shrugs off US oil stockbuild on worries of extended supply cut

Brent crude futures were up $2.07, or 2.6%, at $82.05 a barrel by 1801 GMT

KSE-100 index climbs 2,023 points, or 3.5% WoW, closes at 59,086

Oil remains steady ahead of OPEC+meeting

Arabs in the MENA region should leverage their oil wealth in the Gaza-Israel War to call for a ceasefire

UAE to host COP28 climate summit scheduled to take place in Dubai in Nov, Dec

Group was largely expected to stick to its already agreed 2 million bpd cuts when its panel meets virtually on Monday

Oil prices have come under pressure from weak economy

Decision to hold Dec 4 meeting virtually signals little likelihood of policy change

Prince Saud's viral video of threat comes amid escalating tensions over oil output cut

US Senator Bob Menendez called for a halt to most US arms sales to Saudi Arabia after the OPEC+ move

Saudi foreign minister says decision was purely economic and was taken unanimously by its member states

Sheikh Mohamed bin Zayed ‘will discuss with President Putin the friendly relations between the two countries’

Biden is expected to press other Gulf producers to pump more oil

The development comes as Middle East benchmarks and spot prices slump this month

The government had resigned on Nov. 8 in the standoff with the elected parliament

OPEC+ plans new output policy

No new date decided for 23 members of OPEC+ group to reconvene

Plans to lift output on expectations of growth rebound

The Joint Technical Committee forecasts oil stocks dipping below the 2015-2019 average in August

Brent crude has risen for nine sessions in a row, its longest sustained period of gains since Jan 2019

Saudi Arabia is curbing supply in February and March prompting forecasts of supply deficit this year

Both contracts rose to their highest levels since January 2020

Vaccine rollout fuels hopes of easing of lockdowns, boosting oil demand

OPEC expects output reduction to keep market in deficit throughout 2021

Democrats’ advance toward Biden’s proposed $1.9tr coronavirus plan bolsters market

Both major crude oil contracts rose more than 2%

Benchmark index falls 137.09 points to settle at 46,248.45

Analyst expects Brent crude to hit $60 a barrel by mid-year