Kuwaiti crude down to $50.49 per barrel
Kuwait''s crude oil
Kuwait - KUNA
The price of Kuwaiti crude oil went down Wednesday by USD 0.21, settling at USD 50.49 per barrel after being at USD 50.70 pb the day before, said the news bulletin for Kuwait Petroleum Corporation (KPC) Thursday.
In the global market, the price for the Brent mix for February went down also by USD 0.57 reaching USD 57.33 while the price of American crude settled at USD 53.27 pb.
The decrease in the price of future contracts for oil was due to fears regarding the lack of demand and increase supplies in world markets. Prices in the second portion of 2014 saw a 50 percent decrease, which was a represented a 'nightmare' for producing countries.
Oil expert Dr. Abdulsamee Behbehani told KUNA that the key factor for the price fall in 2014 was OPEC's insistence on keeping production at 30 million barrels a day, which is approximately third of the global production.
There are other geopolitical factors that played a role in the decline, namely the increase in the production of oil shale and producers fears of not being able to overcome the 49-percent price drop, said Behbehani.
GMT 22:17 2018 Monday ,22 January
Opec output cuts near victoryGMT 22:57 2018 Saturday ,20 January
the literary canary in India's coalmineGMT 07:11 2018 Friday ,19 January
Oil market heads towards 'smooth rebalancing': OPECGMT 19:07 2018 Saturday ,13 January
Oil hits $70 a barrel for the first time in three yearsGMT 19:07 2018 Saturday ,13 January
Oil hits $70 a barrel for the first time in three yearsGMT 15:44 2018 Saturday ,13 January
Bahrain to host MERTC 2018GMT 18:24 2018 Friday ,12 January
No need to panic over $70 oil price: UAE Energy MinisterGMT 13:21 2018 Friday ,12 January
Kuwaiti oil price up 93 cents to stand at US$66.09 per barrel
With Job Cuts, China Deal
France's Carrefour revamps operations
Paris - Emiratesvoice
France's Carrefour group said Tuesday it is overhauling its business in a transformation plan involving thousands of job cuts, a product revamp and new partnerships in China. Carrefour, which was the world'sTo partake in Beiteddine Festivals
Singer Bruni arrives in Beirut Sunday evening
Beirut - NNA
French renowned singer and supermodel, Carla Bruni, is expected to arrive this evening at Rafic Hariri International Airport in Beirut, accompanied by her husband, former French President Nicolas Sarkozy. BruniIn France
Microsoft to open 4 data centres
Paris - Emiratesvoice
Microsoft is to open 4 data storage centers in France to meet strong customer demand for cloud computing, the head of the software giant's French operations told the Agence France-Presse onIn Olympic Spotlight
'Friendly and kind' N. Korean skaters
Taipei - Emiratesvoice
North Korea's figure skaters Ryom Tai-Ok and Kim Ju-Sik are "friendly and kind and a little bit shy", South Korea's Kim Kyueun said Tuesday ahead of their hugely anticipated Olympic appearance. The skater is competing with her partner Alex Kam in theFor $11.6 Bn
Sanofi buys US haemophilia treatment
Paris - Emiratesvoice
French pharmaceutical firm Sanofi said Monday it had reached an agreement to purchase US biotech company Bioverativ, which specialises in treatments for haemophilia and rare blood disorders, for $11.6 billion. Sanofi's chief executive Olivier Brandicourt said the acquisition "enhances its presence in specialtyParis show pays homage
to 'eternal style' of late Alaia
Paris - Emiratesvoice
Two months after legendary designer Azzedine Alaia's sudden death plunged the fashion world into mourning, an exhibition in homage to the "King of Cling" opens Monday in his studios in Paris. The Tunisian-born designer, renowned for the way his clothes hugged the body, died suddenly in November aged 82, reportedly of heart failure after falling down the stairs at his home. The diminutive maverick, who ignored fashion week convention by showing when and where he wanted, in July produced his first couture collection in six years to rapturous reviews. Now some of his most iconic dresses are going on display in the glass-roofed gallery next to his studio and home in the Marais district where he used to show his creations. It includes the dress worn by supermodel Naomi Campbell, his longtime friend and muse, when she led
GMT 10:16 2016 Wednesday ,23 March
cartoon five
GMT 09:58 2016 Wednesday ,23 March
cartoon four
GMT 10:18 2016 Wednesday ,23 March
cartoon eight
GMT 11:10 2018 Thursday ,30 August
Ariana Grande will perform at Aretha Franklin’s funeral
GMT 05:04 2024 Tuesday ,06 February
Skincare PR Performance Full Year 2017
GMT 08:04 2017 Monday ,13 February
Number of people in need of assistance in Somalia hits 6.2 mGMT 01:26 2011 Friday ,11 March
English won\'t survive in the education market
GMT 08:51 2017 Wednesday ,24 May
Dubai Knowledge Summit set for November 21
GMT 14:01 2018 Thursday ,30 August
Expat with rare heart disorder gets life-saving surgery
GMT 06:05 2017 Tuesday ,30 May
Sri Lanka steps up monsoon relief as toll hits 113GMT 15:22 2012 Saturday ,21 January
Take a long winter in Colorado
GMT 07:03 2015 Monday ,03 August
Cara Delevingne scolded by TV hosts, shoots back on Twitter
GMT 11:34 2017 Tuesday ,07 November
Iran eases conditions of opposition leader's house arrest
GMT 11:30 2017 Friday ,17 March
Bahrain Endurance 13 athletes seek podiums this weekendGMT 06:18 2011 Tuesday ,19 July
AIG considers stock offering for lease unit
GMT 01:06 2017 Monday ,29 May
Israeli forces arrest 15 Palestinian in West Bank
GMT 05:01 2013 Sunday ,18 August
The Pakistani artist Saba Qizilbash talks about the fabric of her lifeGMT 11:13 2012 Monday ,16 January
Don\'t gamble on safety if you drive to the slopes
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Send your comments
Your comment as a visitor