Pakistan News

    1 Barrel Oil Price In Pakistan

  • Opec eyes oil at $76 a barrel in 2025: WSJ

    RIYADH: The Organisation of the Petroleum Exporting Countries (Opec) expects oil prices to be about $76 a barrel in 2025 in its most optimistic scenario, the Wall Street Journal reported, citing a draft of the cartel’s latest strategy report...

    Opec does not expect oil prices to consistently trade at $100 barrel again in the next decade, an assessment that has the group considering the return of production limits, the Journal said... ...

  • Oil market scoffs at Obama’s plan for $10 tax per barrel

    NEW YORK: President Barack Obama’s surprise proposal on Thursday to charge a $10 a barrel fee on crude oil, equivalent to one-third the going price, drew a predictably swift response from traders and industry figures: Are you joking?No, say administration aides, though they concede that the proposal to levy a fee that would be used to fund investments in clean transportation projects was meant more to start a broader conversation about...

  • Oil rises above $35 a barrel

    LONDON: Oil extended a rally above $35 a barrel on Thursday, adding to the previous session’s 7 per cent jump, as support from a weaker dollar offset concern about ample supply and record-high US inventories...

    Crude rebounded from an earlier fall after an Iranian official was quoted as saying Tehran supported a meeting between Opec and other oil producers, raising hopes they could take action to support prices despite scepticism in...

  • US crude oil soars 8.8pc to $49.20 a barrel

    NEW YORK: US crude oil closed nearly nine per cent higher Monday as the government lowered its domestic crude production estimate and Opec signalled concern about multi-year low prices...

    20 a barrel on the New York Mercantile Exchange...

  • Oil hits 16-month high at $55 a barrel

    NEW YORK: Crude rose above $55 a barrel to hit a 16-month high on Monday as rising prospects of a tightening market after last week’s Opec landmark deal to cut production has given speculators impetus to increase bets on higher prices...

    “Opec sentiment continues to support oil markets...

  • US oil surges past $70 a barrel, dollar hits fresh high

    NEW YORK: The dollar rose to fresh 2018 highs on Monday while oil prices surged to their highest since late 2014, driven by declining Venezuelan crude production and worries the Unites States could re-impose sanctions on Iran...

    Venezuelan oil exports came under threat after US oil major ConocoPhillips moved to take Caribbean assets of state-run PDVSA to enforce a $2 billion arbitration award, three sources told Reuters...

  • Barrel bombs kill 71 in Syria

    ALEPPO: Barrel bombs dropped from regime helicopters on Saturday killed more than 70 civilians in Syria’s Aleppo, while government forces in neighbouring Iraq retook an area west of the jihadist-controlled city of Ramadi...

    The Syrian Observatory for Human Rights said “at least 71 civilians were killed, and dozens wounded when regime helicopters dropped barrel bombs” on the provincial town of Al-Bab and the Al-Shaar district of the...

  • Barrel bombs kill 11 civilians in IS town in Syria

    BEIRUT: At least 11 civilians, among them three children, were killed Thursday in regime barrel bomb attacks on a jihadist-held town in northern Syria, a monitoring group said...

    In May, more than 60 civilians were killed by barrel bomb attacks on the town...

  • Crude realities: $40 barrel threat looms

    TORONTO: Despite some recent strengthening, oil markets could be in for a long, hard and volatile summer for oil markets...

    “(Stocks) are at such elevated levels, especially for products for which demand growth is slackening, that they remain a major dampener on oil prices,” the Paris-based group said in its latest report...

  • Pakistan fails to capitalise on oil price dip: ADB

    ISLAMABAD: The Asian Development Bank says that Pakistan’s economy has failed to achieve its growth potential in spite of benefiting from lower prices of oil which accounts for almost a third of its imports...

    The ADB approved $1 billion for projects in Pakistan to improve transport and trade...

  • Oil price soars in mixed week for commodities

    LONDON: Star commodity performer oil surged in value this week on hopes that easing US shale output could help curb the stubborn global supply glut, analysts said...

    “Oil prices rose sharply in the past week, supported by further evidence that US production and crude stocks are close to peaking — if they have not done so already,” said Julian Jessop, head of commodities research at consultancy Capital Economics...

  • Oil price rally unsustainable

    RIYADH: Oil markets posted their largest monthly gain in almost six years in April...

    Aided by record or near-record supplies from Iraq and Saudi Arabia, the April Opec oil output jumped to its highest in more than two years...

  • African economy to strengthen in 2015 despite Ebola, oil price drop

    And if the commodity prices remain low, the report warned that the economies of resource-rich countries, such as leading oil exporters Nigeria and Angola, may slow down as their governments will inevitably have to trim spending...

    Oil-rich Nigeria, the continent’s largest economy, which was not at the epicentre of the Ebola crisis, saw 6...

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