October 16, 2026
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Tag : OPEC

Business

Global markets face disruption amid $17.3 trillion oil shock warning

omandailynews.com
CryptoWire, LONDON: Global financial markets are navigating renewed turbulence after warnings of a potential $17.3 trillion oil price shock that could reverberate across energy, currency, and digital asset sectors. The alert follows heightened geopolitical tension in South America, where the detention of...
Business

Kuwait oil jumps $4.5 to $75.40 per barrel amid rising tensions

omandailynews.com
MENA Newswire News Desk: Kuwait crude oil prices saw a sharp increase of $4.5, reaching $75.40 per barrel on Wednesday, compared to $70.90 the previous day, according to the Kuwait Petroleum Corporation (KPC). This significant rise follows a surge in...
Business

Egypt partners with global energy companies in $1.8 billion offshore exploration initiative

omandailynews.com
Tarek El Molla, the Minister of Petroleum and Mineral Resources of Egypt, unveiled his country's ambitious plan to invest $1.8 billion in offshore exploration for new gas wells in the Mediterranean Sea and the Nile Delta. Under this program, Egypt...
Business

Saudi Arabia and OPEC+ allies agree to cut oil output by 1.16 million bpd

omandailynews.com
Saudi Arabia and other OPEC+ oil producers announced further oil output cuts of around 1.16 million barrels per day on Sunday, ahead of a virtual meeting of an OPEC+ ministerial panel. The unexpected move takes the total volume of cuts...