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Economy

Oil prices hit lowest in 11 years

Oil prices have hit their lowest in over 11 years as the diplomatic fall out between Saudi Arabia and Iran has killed speculation that OPEC members

Economy

Oil supply could grow further after diplomatic fall out between Iran and Saudi Arabia

Oil from Saudi Arabia is a part of the rivalry it has with Iran and now it’s taking to the stage in the diplomatic fall out. How will that effect

World News

Saudis brace for 'prolonged period' of low oil prices

Saudi’s Arabia’s planned cuts in spending and energy subsidies show the world’s largest crude oil exporter is bracing for a prolonged period of low

Economy

Oil industry's pain is the US motorist's gain

It may not do much to reduce air pollution or greenhouse gas emissions – it’s certainly not helped the oil industry – but low fuel prices are a boon

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Business Series

After a volatile 2015, a look forward to 2016

On the season finale of Business Middle East we summarise a volatile year and discuss the 2016 forecast for global and MENA markets with Nour Eldeen

Economy

Falling oil prices wreak havoc in Venezuela

The tumbling oil price has had a catastrophic effect in Venezuela, which has the dubious privilege of having the world’s highest inflation. The value

Economy

Brent crude oil price falls to 11-year low

Brent crude fell to its lowest price for more than 11 years on Monday, plunging to $36.05 a barrel before recovering slightly. It came as the global

Economy

Russia boosts oil exports to Asia, denting OPEC's drive for customers

Russian crude oil exports to Asian countries have increased by almost a quarter this year according to data compiled by Reuters. Sales rose 23

Economy

US Congress leaders agree to end 40-year oil export ban

US Congressional leaders have agreed to lift the country’s 40-year-old ban on oil exports, a historic action reflecting the impact of a boom in

Economy

Moody's cuts 2016 oil price forecasts

Moody’s has sharply lowered its forecasts for oil prices next year against the threat of a sustained global surplus. The ratings agency has brought

Business Series

Fear spreads across markets ahead of Fed rate decision

In this week’s Business Middle East we take a look at global markets’ performance ahead of the US interest rate decision. With the countdown underway

Economy

Oil prices tumble again to near 11-year low

Oil prices tumbled four percent on Monday, coming close to their 11-year low – amid fears that the global surplus could worsen in the coming months

Business Series

Shell plans 2,800 more job losses over BG bid

Royal Dutch Shell has confirmed plans for 2,800 more job losses should its takeover of BG Group succeed. The cuts come on top of 7,500 redundancies

Economy

Crude oil prices plunge to fresh 7-year lows

Crude oil prices hit fresh seven-year lows on Friday as the International Energy Agency warned that global oversupply could worsen in the New Year

Economy

OPEC crude oil output rises to three-year high

Unfazed by tumbling prices, undeterred by low demand, OPEC raised its production of crude oil to a three-year high in November. Failure to agree a

Economy

Airline profits looking up for 2016, says IATA

Airline profits will be boosted again next year by low oil prices and healthy demand for travel – that’s the confident prediction of the

World

UAE Energy Minister Suhail Al Mazroui: "We will not rely on oil"

Faced with the challenge of a declining oil market The United Arab Emirates, a major crude producer in the Gulf is striving to diversify its economy

Economy

Brent crude oil dips below $40 a barrel for first time since 2009

US crude fell below $37 (34 euros) a barrel on Tuesday, and Brent below $40 (36.7 euros) for the first time since early 2009. Oil prices then

Business Series

OPEC: After the latest acrimonious meeting, where now for oil prices?

On Business Middle East this week we analyse the repercussions of the latest OPEC meeting decision. According to analysts it’s clear from the meeting

Economy

Saudi-led OPEC policy 'targets shale oil producers'

OPEC’s failure to agree new limits on oil production regardless of demand and tumbling prices is seen by some as a deliberate move to send rival