The United Arab Emirates is set to announce its retail fuel prices for July 2025 by June 30, as part of the monthly pricing update. Since the deregulation of fuel prices in 2015, domestic petrol and diesel costs in the UAE have been closely linked to international oil market trends. These monthly revisions are significant...
Oil prices have experienced significant volatility in recent weeks, leading analysts to speculate that they could decline further. This potential drop is contingent on the decisions made by Opec+, which is scheduled to meet early next month to discuss supply levels. Analysts indicate that if Opec+ opts to boost oil supply during this meeting, it...
OPEC+ is set to hold a meeting on May 5, where eight member countries will discuss the plan for oil output in June. Some members are proposing to accelerate oil output increases for a second consecutive month, following a significant rise in May. In April, oil prices fell to a four-year low due to factors...
On Sunday, Saudi Arabia, the world’s leading oil exporter, significantly lowered its May crude oil prices for Asian buyers. This move is seen as a strategic decision ahead of an anticipated output increase by OPEC+, the coalition of oil-producing nations that includes Saudi Arabia and its allies. The reduction in prices is expected to have...
Two major state-owned oil companies from the UAE and Saudi Arabia have announced a reduction in their benchmark crude oil prices. Saudi Aramco, recognized as the world’s leading oil exporter, has lowered its crude oil prices for Asian buyers in April for the first time in three months. This decision aligns with market expectations following...
The UAE has confirmed its commitment to ensuring stability in the oil market by adhering to additional voluntary production adjustments aimed at balancing supply and demand. This announcement comes as Opec+ has decided to implement a planned increase in oil output starting in April 2025. On Monday, Opec+ member countries, including Saudi Arabia, Russia, Iraq,...
Oil prices are expected to average between $70 and $75 per barrel in 2025, down from $80 in 2024, as analysts foresee a global supply surplus and slowing demand from major economies like China. According to The National, the International Energy Agency (IEA) predicts a significant oversupply of up to 1.4 million barrels per day...