Monday, July 26, 2021

Opec

As oil prices rally, old Opec tensions set to rise

LONDON: As members of the oil cartel Opec and its allies meet this week to discuss adjusting output, analysts expect old tensions between oil producer giants to flare up again. Russia and Saudi Arabia, respectively the world's second and third...

Ringgit slightly higher against US dollar on mild buying interest

KUALA LUMPUR: The ringgit was slightly higher at opening on Tuesday, buoyed by mild interest despite the stable US dollar and lower crude oil price which is trading at $63.69 per barrel, down by 1.13 per cent. At 9am, the...

Ringgit lower versus US dollar, hobbled partly by crude oil market

KUALA LUMPUR: The ringgit opened lower against the US dollar on Monday, hobbled partly by the domino effect of risk-off sentiment on the crude oil market as investors turned cautious ahead of next week’s Organisation of the Petroleum Exporting...

When life gives you lemons …

It was not all doom and gloom at Level 22, Wisma Bapa Malaysia, where the Chief Minister’s Office is located. In deliberating an ‘exit plan’ in view of the inevitable economic downturn following the Covid-19 pandemic, the unenviable task was...

Oil prices depressed, remain below $40

KUALA LUMPUR: Market participants are doubtful that a historic one-year oil production cut pledged by major producers recently would solve the oversupply problem. For the week just ended, the West Texas Intermediate crude for May delivery lost 8.1 per cent to settle at...

Oil prices down after Opec production cut deal

ANKARA: Crude oil prices were down during Good Friday's thin trading following Opec's output curb decision on Thursday, reported Anadolu Agency.  International benchmark Brent crude was at $31.82 per barrel at 0640 GMT on Friday, down 3.1 per cent for the day...

Opec+ may proceed with oil supply cut from May 1

KUALA LUMPUR: Opec+ is likely to proceed with the 10 million barrels per day (mbpd) supply cuts beginning May 1, which will be gradually reduced across 12 months, said an economist. OCBC Bank economist Howie Lee said the group member countries have...

Opec+ deal ‘very close’

MOSCOW: Russia and Saudi Arabia are "very close" to reaching an Opec-non-Opec deal on market regulation for the reduction of oil output, Sputnik news agency reported the head of the Russian Direct Investment Fund (RDIF) Kirill Dmitriev as saying on...

Trump calls Opec ‘illegal’, says could impose oil tariffs

MOSCOW: US President Donald Trump says the Organisation of the Petroleum Exporting Countries (Opec) is destroying itself, but he is also ready to impose tariffs on foreign oil if it is required to protect the US energy business. "I’ve been...
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Leaders risk fines if lax on SOPs

KUCHING: Community leaders have been told to ensure compliance with the Standard Operating Procedures (SOPs) in their longhouses or...
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