supply

GCC countries should strengthen supply chains to ensure industrial growth: Oliver Wyman

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Saudi Arabia’s AI adoption ignites technological advancement and economic growth RIYADH: As artificial intelligence gains global attention and becomes a buzzword, Saudi Arabia is positioned for accelerated adoption to enhance efficiency across its industries. Over the years, AI has evolved into a transformative technology revolutionizing numerous industries and domains. Its development and adoption across sectors … Read more

Oil Updates – prices dip as demand worries outweigh Mideast supply fears

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Pakistan pushes to forge strategic, economic partnership as Saudi FM visits Islamabad ISLAMABAD: Pakistani top leaders, including the prime minister, president and foreign minister, said on Tuesday the ongoing visit of Saudi Foreign Minister Prince Faisal bin Farhan to Islamabad would help transform a longstanding friendship between the two nations into a strategic and commercial … Read more

Oil Updates – crude heads for second weekly gain on geopolitical tension, supply concerns

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SINGAPORE: Oil prices extended gains on Friday and headed for a second weekly gain, supported by geopolitical tensions in Europe and the Middle East, concerns over tightening supply and optimism about global fuel demand growth as economies improve, according to Reuters. Brent crude climbed 59 cents, or 0.7 percent, to $91.24 a barrel by 9:46 … Read more

Oil Updates – prices rise on concerns of lower supply, signs of US economic growth

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RIYADH: The UAE central bank’s foreign assets surged to 695.04 billion dirhams ($189.2 billion) in January, showing a 38.8 percent yearly increase, according to official data. The financial sector’s total reserves also grew, hitting 4.1 trillion dirhams in January – a 0.8 percent monthly increase, according to official data. Additionally, total bank credit at the end of January … Read more

Oil Updates – crude steady while market eyes geopolitical supply risks

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RIYADH: Saudi Arabia continued to record robust business activity in March with the authorities approving 18 requests for economic concentration, official data showed. Last month, as many as 17 concentration requests were submitted to the General Authority for Competition. The authority also oversaw a notable influx of cross-border deals, encompassing 10 acquisitions, five joint ventures, … Read more

UAE non-oil sector sees sharp rise in optimism despite supply pressures 

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RIYADH: Business conditions in the UAE non-oil private sector strengthened sharply in March, with optimism reaching its highest point in six months, as indicated by a survey.  According to the latest S&P Global Purchasing Managers’ Index, the UAE’s PMI reached 56.9 in March, slightly lower than February’s 57.1 but well above the 50 mark denoting … Read more

Oil Updates – crude rises as investors bet on tighter supply, China’s economy

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SINGAPORE: Oil prices rose on Monday, adding to recent gains amid expectations of tighter supply from OPEC+ cuts, attacks on Russian refineries and as upbeat Chinese manufacturing data supported outlooks for improving demand, according to Reuters. Brent crude rose 24 cents, or 0.3 percent, to $87.24 a barrel by 9:49 a.m. Saudi time after rising 2.4 … Read more

Oil Updates — Crude rises more than $1 a barrel on tighter supply outlook 

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RIYADH: Saudi Arabia is emerging as a proactive leader, pioneering green initiatives to mitigate economic challenges posed by the transformation toward sustainability, according to the International Monetary Fund. A recent report by the IMF highlighted the intricate dynamics at play and underscored the Gulf Cooperation Council and Saudi Arabia’s strategic positioning in this evolving scenario. … Read more

Oil Updates – trades little changed as markets weigh Russian supply cuts against weaker dollar

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SINGAPORE: Oil was little changed on Tuesday, after rising in the previous session, as investors took a more mixed view toward the loss of Russian refinery capacity after recent Ukrainian attacks, though a slightly weaker US dollar offered some support, according to Reuters. Brent crude futures for May climbed by 7 cents to $86.82 a … Read more

Oil Updates – crude rises as heightened geopolitical risks exacerbate supply concerns

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TOKYO: Oil prices rose in early Asian trading on Monday on concerns over tighter global supply brought about by escalating conflicts in the Middle East and between Russia and Ukraine, while a shrinking US rig count added to upward price pressure, according to Reuters. Brent crude futures climbed 52 cents, or 0.6 percent, to $85.95 a … Read more