Business News Saudi Arabia

  • DUBAI, Aug 18- Weakness in banking shares pushed indexes in Saudi Arabia and Abu Dhabi lower in early trade on Sunday, while Qatari stocks rebounded on demand for Industries Qatar, which bounced back after sharp losses this month on weak earnings. Saudi stocks were down 0.1%, with Saudi British Bank down about 1% and Samba Financial Group falling 1.2%.

  • OTTAWA, Aug 16- Canada on Friday announced a multi-billion dollar contract with General Dynamics Corp for equipment that will be manufactured in a region where the ruling Liberals need to do well in an October election. Defence Minister Harjit Sajjan said Ottawa would buy 360 light armored vehicles from General Dynamics Land Systems Canada in a deal worth up...

  • *OPEC sees bearish oil market for rest of 2019. The cartel also highlighted challenges in 2020 as rivals pump more, building a case to keep up an OPEC- led pact to restrain supplies. "OPEC killed the golden goose," said Bob Yawger, director of futures at Mizuho in New York.

  • *OPEC sees bearish oil market for rest of 2019. The cartel also highlighted challenges in 2020 as rivals pump more, building a case to keep up an OPEC- led pact to restrain supplies. "OPEC killed the golden goose," said Bob Yawger, director of futures at Mizuho in New York.

  • *OPEC sees bearish oil market for rest of 2019. The cartel also highlighted challenges in 2020 as rivals pump more, building a case to keep up an OPEC- led pact to restrain supplies. "OPEC killed the golden goose," said Bob Yawger, director of futures at Mizuho in New York.

  • *Demand for OPEC crude to fall 1.30 million bpd in 2020. LONDON, Aug 16- OPEC delivered a downbeat oil market outlook for the rest of 2019 on Friday as economic growth slows and highlighted challenges in 2020 as rivals pump more, building a case to keep up an OPEC- led pact to curb supply. The bearish outlook due to slowing economies amid the U.S.- China trade dispute and...

  • *OPEC sees bearish oil market for rest of 2019. MOSCOW, Aug 16- Crude oil prices rose on Friday, recovering from two days of declines, after data showing a rise in U.S. retail sales helped to ease concerns about a recession in the world's biggest economy. Brent crude was up 38 cents at $58.61 a barrel at 1136 GMT, after falling 2.1% on Thursday and 3% the previous day.

  • LONDON, Aug 16- OPEC on Friday provided a downbeat oil-market outlook for the rest of 2019 as economic growth slows and highlighted challenges in 2020 as rivals pump more, building a case to keep up an OPEC- led pact to restrain supplies. The bearish outlook due to slowing economies amid the U.S.- China trade dispute and Brexit could press the case for OPEC and...

  • *Market looking for signs of further OPEC output cuts. MOSCOW, Aug 16- Crude oil prices rose more than 2% on Friday, recovering from two days of declines after data showing a rise in U.S. retail sales helped to ease concerns about a recession in the world's biggest economy. Brent crude was up 2% at $59.48 a barrel at 0924 GMT, after falling 2.1% on Thursday and 3% the...

  • *Market looking for signs of further OPEC output cuts. TOKYO, Aug 16- Crude oil prices rose more than 1% on Friday following two days of declines, buoyed after data showing an increase in retail sales in the United States helped dampen concerns about a recession in the world's biggest economy. Brent crude was up 68 cents, or 1.2%, at $58.91 a barrel at 0650 GMT, after...

  • China says has to take counter-measures to latest U.S. tariffs. NEW YORK, Aug 15- Oil prices fell more than 1% on Thursday, extending the previous session's 3% drop, pressured by mounting recession concerns and a surprise boost in U.S. crude inventories. The global benchmark was down $1.52, or 2.6%, at $57.96 and West Texas Intermediate crude was down 80 cents, or 1.5%,...

  • LONDON, Aug 15- Oil fell 2% towards $58 a barrel on Thursday, extending the previous session's 3% drop, pressured by mounting recession concerns and a surprise boost in U.S. crude inventories. Global benchmark Brent crude was down $1.20, or 2%, at $58.28 a barrel by 1032 GMT, after a 3% slide on Wednesday. "The oil market has become a recession fear gauge," said Norbert...

  • OPEC would have to cut oil supply by another million barrels a day to push prices up, analyst says

    Emma Richards, senior industry analyst at Fitch Solutions, says markets have become "incredibly sensitive to any kind of bearish indicator."

  • Oil prices fell more than 1% on Thursday, extending the previous session's 3% drop, pressured by mounting recession concerns and a surprise boost in U.S. crude inventories.

  • TOKYO, Aug 15- Oil prices steadied on Thursday, following sharp overnight losses as U.S. crude inventories unexpectedly rose, fears of recession mounted and economic data out of China and Europe disappointed. The combination of a slew of data suggesting a slowdown in global growth amid the U.S.- China trade war and persistently high levels of oil in U.S. storage...

  • A worker stands at a pipeline, watching a flare stack at the Saudi Aramco oil field complex facilities in Shaybah, Saudi Arabia.

    The Saudis are using both short-term tactics and long-term strategy, industry experts say.

  • TOKYO, Aug 15- Oil prices fell on Thursday, adding to sharp overnight losses as U.S. crude inventories unexpectedly rose, fears of recession mounted and economic data out of China and Europe disappointed. The combination of a slew of data suggesting a slowdown in global growth amid the U.S.- China trade war and persistently high levels of oil in U.S. storage has...

  • TOKYO, Aug 15- Oil prices fell on Thursday to extend sharp overnight losses as U.S. crude inventories unexpectedly rose, fears of recession mounted and economic data out of China and Europe disappointed. The combination of a slew of data suggesting a slowdown in global growth amid the U.S.- China trade war and persistently high levels of oil in U.S. storage has...

  • SEOUL, Aug 15- South Korea's oil imports from the United States and the United Arab Emirates jumped in July, with Iranian shipments remaining at zero for a third month due to U.S. sanctions, customs data showed on Thursday. In July last year, before the re-imposed sanctions, South Korea imported 788,651 tonnes of crude oil from Iran, or 185,715 barrels per day,...

  • NEW YORK, Aug 14- Pipeline operator NuStar Energy LP said on Wednesday it planned to load the first shipment of Permian crude for export from a Corpus Christi, Texas, terminal this weekend. It recently completed a project connecting a pipeline in South Texas to Plains All American LP's 670,000 barrels-per-day Cactus II pipeline system that brings Permian crude...