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OPEC+ expected to stick with planned Feb output increase, sources say

  • OPEC+ is expected to stick to its plans for a February output increase when it meets on Tuesday, predicting a mild and short-lived impact on demand from the omicron coronavirus variant, three sources from the group of oil producers told Reuters on Monday. OPEC+, a grouping of the Organizati...

Oil prices edge higher ahead of OPEC+ output policy meeting

  • MELBOURNE/BEIJING: Oil prices rose on Tuesday as investors embraced expectations that oil producers will add supply at a meeting on Tuesday as a sign that fuel demand remains robust despite the spread of the omicron variant of COVID-19. Brent crude futures gained 43 cent to $79.41 a barrel at...

Chinese economy struggling to shake off Delta variant

  • China's manufacturing, services and technology sectors all took a hit in August as the country took steps to tackle the Delta variant, according to government figures. Supply chains faced disruptions thanks to COVID-instigated restrictions including suspended port operations, and the serv...

Oil rises but set for 5 percent weekly drop as Delta variant spreads

  • RIYADH: Oil prices steadied on Friday, clambering away from three-month lows, but they were still on track for a weekly loss of more than 5 percent with the new lockdowns in countries facing surging cases of the covid Delta variant dampening the outlook for fuel demand, Reuters reported. ...

Eberhard & Co. presents elegant Extra-fort Grande Taille

  • A skillful blend of technique and class makes Extra-fort Grande Taille a chronograph with great personality. It is available in four new dial variants, all with “frappé” finishing and snailed counters: Silver/silver counters, blue/silver counters, grey/grey counters and silver/black counters. All...

Date palm investments in Jordan reach $500 million

  • DUBAI: Investments in the date palm industry have reached about $500 million, local daily The Jordan Times reported citing the Jordan Dates Association President Anwar Haddad. The date palm cultivation covers an area of around 8,650 acres with about a total of 550,000 palms, he added. Haddad ...

Oil declines amid spread of new COVID-19 strain

  • Oil prices continued their downward momentum on Tuesday, following the sharp losses in the previous session as several countries closed their borders to British travellers and freight after the spread of a new strain of the novel coronavirus in the United Kingdom. Brent crude was trading down...

Hyundai Motor unveils first images of Elantra N

  • Hyundai Motor Company has revealed the first glimpse of Elantra N (sold as Avante N in South Korea), the latest addition to its N range. This is Hyundai Motors’ sixth N brand model, following the unveiling of Kona N in April this year. Elantra N is the high-performance variant of the new Elant...

UAE’s ADNOC to maintain crude allocation cut at 5% in Nov: Reuters

  • DUBAI: The Abu Dhabi National Oil Co. (ADNOC) plans to keep crude allocation reductions for current customers at 5 percent in November, four sources with knowledge of the matter said on Monday. The UAE’s producer started increasing crude supplies to current customers from October when it ease...

Oil demand expected to reach pre-pandemic levels despite omicron fears: Aramco CEO

  • Dhahran: Aramco’s CEO is optimistic about oil demand growth next year despite fears over the new COVID-19 variant omicron.  Oil demand will be over 100 million barrels per day in 2022, reaching pre-COVID19 levels, Amin Nasser told Arab News during a media briefing at ...