Oil recovers from Friday, Omicron focuses on spread, Iran talks

TOKYO: Oil prices edged higher on Monday, recovering some losses after plunging nearly $10 a barrel on Friday, as investors looked for a bargain, but Omicron remained focused on the coronavirus pandemic and Iran nuclear deal talks. Be careful with Brent crude futures were up $3.05, or 4.2 per cent, at $75.77 a barrel by … Read more

Brent dips below $80 as investors wary of new eds, Q1 surplus

SINGAPORE: Brent fell nearly 4% below $80 a barrel on Friday as a new COVID-19 variant spooked investors, adding to concerns that the release of crude by the United States and others follows the Global supply surplus may increase in Q1. , Oil fell along with other financial markets on fears that the new version … Read more

US Fuel Prices: What’s Up With Gasoline?

The United States uses more gasoline than any other country in the world, and lately Americans have become concerned about a rapid increase in costs at the pump. The White House on Tuesday announced plans to release millions of barrels of oil from strategic reserves in coordination with other countries in hopes of reducing costs. … Read more

Fuel prices stable as oil companies keep petrol, diesel rates unchanged

Consumers are getting respite from rising fuel prices as Oil Marketing Companies (OMCs) have kept the pump prices of petrol and diesel unchanged after the state governments revised duty on the eve of Diwali. Accordingly, prices of petrol and diesel remained stable for the 15th consecutive day on Friday, under the daily price revision mechanism … Read more

Saudi Arabia’s race to attract investment is shrouded in doubt

By David Barbusia, Saeed Azhar and Yousef Saba Financial sources and analysts said Saudi Arabia could have a credibility problem if it keeps shifting target positions for foreign investment volumes as it seeks to turn its future outlook into reality. Five years after Crown Prince Mohammed bin Salman launched Vision 2030 to end the kingdom’s … Read more

OPEC+ keeps oil production cautious despite Biden pressure

OPEC and allied oil-producing nations came under pressure from US President Joe Biden to pump in significantly higher and lower gasoline prices for American drivers, sticking with their plan for a cautious monthly increase despite price increases on Thursday. and the global economy is fuel thirsty. The OPEC+ coalition, made up of OPEC members led … Read more

GDP likely to grow at 10-10.5% in FY2022: Report

Domestic rating agency Brickwork Ratings on Monday revised its growth forecast for the country’s gross domestic product (GDP) to 10-10.5 per cent on expectations of 9 per cent growth in the current fiscal. It said several economic growth indicators are suggesting a faster-than-expected recovery in economic activity. “We revise our GDP forecast for FY22 to … Read more