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Saudi Arabia, others in OPEC willing, able to replace Libyan oil
Source: BI-ME with Bloomberg , Author: Posted by BI-ME staff
Posted: Thu February 24, 2011 2:54 pm

SAUDI ARABIA. Saudi Arabia and other OPEC nations including those in West Africa are willing and able to replace any lost Libyan oil, including crude of the same quality, a Saudi Arabian oil official told Bloomberg by telephone today.

Brent North Sea crude, which is more sensitive to Middle East unrest because of Europe's greater dependence on oil from the region, climbed US$1.41 cents to US$112.66 per barrel, its highest since August 2008.

New York's main contract, light sweet crude, gained 93 cents to reach US$98.93 after breaching the US$100 mark late Wednesday.

 

MIDDLE EAST BUSINESS COMMENT & ANALYSIS

date:Posted: July 25, 2017
UAE. New report shows that while more men use seed crowdfunding than women, women are more successful in reaching their finance goals; This is also true for the Middle East where women were also found to be more successful in achieving their finance targets (10% vs 6%).
date:Posted: July 24, 2017
UAE. Confidence is now at its lowest level since the second quarter of 2016, according to the latest edition of the Global Economic Conditions Survey (GECS);The sharp fall in confidence mirrors the oil price.
date:Posted: July 24, 2017
UAE. Oxford Business Group (OBG) Business Barometer: 75% of UAE CEOs indicate significant capital investment in the coming 12 months.
UAE. New report shows that while more men use seed crowdfunding than women, women are more successful in reaching their finance goals; This is also true for the Middle East where women were also found to be more successful in achieving their finance targets (10% vs 6%).
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