June 4, 2026
Trending now

Tokyo market splits as Nikkei sets closing record

China investigates fatal Huize illegal mining collapse

Eight dead as Türkiye bus strikes highway barrier

Ebola outbreak in DRC reaches 282 confirmed cases

Shanxi coal mine explosion kills 82 workers

AI chip demand lifts Singapore Q1 GDP growth to 6%

Measles outbreak in Bangladesh passes 60,000 cases

PM Modi and Meloni spotlight deepening India-Italy ties

UAE and Germany review strategic ties in Berlin

South Korea launches $665.5 million industrial growth fund

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 Venezuelan President Nicolás Maduro by U.S. forces has disrupted expectations......
Business

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

omandailynews.com
Kuwait’s crude oil price surged by $4.5 on Wednesday, reaching $75.40 per barrel, driven by concerns over Middle Eastern tensions and market uncertainty, according to Kuwait Petroleum Corporation....
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 aims to collaborate with major international companies, including Eni, Chevron,......
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 by OPEC+ to 3.66 million bpd, equal to 3.7% of......
Business

Oil producers from OPEC and non-OPEC sign historic declaration

omandailynews.com
Ten non-OPEC oil-producing countries and OPEC Member Countries signed the Declaration of Cooperation (DoC) on 10 December 2022. At the OPEC Headquarters in Vienna, Austria, OPEC Member Countries, Azerbaijan, Bahrain, Brunei Darussalam, Equatorial Guinea, which joined later, Kazakhstan, Malaysia, Mexico, Oman, Russia, Sudan, and South Sudan met on this day......
Business

UAE plays a crucial role in securing global energy supplies – OPEC

omandailynews.com
As one of the world’s largest oil producers, and considering future directions to increase energy productivity, Haitham Al Ghais, Secretary-General of the Organisation of the Petroleum Exporting Countries (OPEC), affirmed that the UAE plays a crucial role in securing oil supplies around the world. Announcing his appointment as OPEC Secretary-General,......
Business

OPEC Fund for International Development lends $40 million to Kosovo

omandailynews.com
The OPEC Fund for International Development (OFID) has extended a $40 million loan to Kosovo to support the Public Finances and Economic Growth Programme. In the energy and waste management sectors, the comprehensive plan will enhance fiscal transparency, promote private sector development, and facilitate environmental reforms. The program was developed......