LONDON: Royal Dutch Shell said on Friday that it will win a boost from soaring gas prices in the fourth quarter despite supply problems, but cautioned that Omicron weighs on oil demand. Shell expects “significantly higher” gas revenues in the three months to December thanks to the “high liquid natural gas spot price environment” as it … Read more
DHAHRAN: Aramco’s CEO is optimistic about oil demand growth next year, despite fears over the new Covid-19 variant omicron, Arab News reported. The oil demand will be over 100 million barrels/day in 2022, reaching the pre-Covid-19 levels, Amin Nasser told Arab News during a media briefing at the company’s headquarters. On the Covid-19’s new strain, he said: “The markets … Read more
RIYADH: Oil demand will return to 2019 levels by the end of 2022, despite some delays in projects due to repercussions from the pandemic, Baker Hughes CEO Lorenzo Simonelli told Al-Arabiya. National oil companies in the Middle East have been preparing for the increased demand, while international oil companies, especially those in North America, have been … Read more
Crude oil futures fell after revived production at a Libyan oil field sparked fears of an inventory flood. West Texas Intermediate contracts slipped as much as 4% to $39.27. Brent crude, the commodity’s international standard, fell 3.1% to an intraday low of $41.93. Both contracts retraced some gains following the decline. The Messla oil field … Read more
As China releases inflation data for the month of June, the share market in the Asia Pacific witnessed an increase in morning trade. According to data provided, Asia Pacific stocks saw a strong performance so far this week. The Shanghai Composite gained 0.17% in the morning trade. Shenzhen component advanced 0.877%. Hong Kong’s Hang Seng … Read more
The Oil prices witnessed a decrease of 0.3% to $42.95 a barrel, in early trade on the third day of the business week. The decrease is due to the concerns that the United States of America, which is the biggest oil consumer will limit the use, as the country witnessed the surge in novel coronavirus … Read more
