Gulf banks under pressure from low oil prices
Banks in the six-nation Gulf Cooperation Council (GCC) are being increasingly challenged by a liquidity squeeze resulting from low oil prices, Moody's Investor Services...
Oil price to start slow recovery in 2017, says International Energy Agency
World oil prices are unlikely to rise from current levels before 2017, and even then their recovery will be slow as massive oil stocks...
Nigeria's President Buhari to talk oil in Saudi and Qatar
President Muhammadu Buhari is to visit the Gulf for a week-long tour, with a focus on ending the global slump in oil prices that...
Venezuela sending new proposals to OPEC and non-OPEC producers
Venezuela is sending new proposals to leaders of OPEC and non-OPEC countries to stabilize the oil market, President Nicolas Maduro said in a televised...
Lebanon PM urges Saudi to reconsider aid package suspension
Lebanon's Prime Minister Tammam Salam on Friday urged Saudi Arabia to "reconsider" the suspension of a $3 billion aid package to its army to...
Yemen central bank stops guarantees for rice and sugar imports
Yemen's central bank has told traders and local banks it will no longer provide lines of credit for the import of sugar and rice...
Oil in 'tumultous' week after output freeze deal
The oil market was gripped this week by an output freeze deal between the world's top two producers Saudi Arabia and Russia.
Prices initially rebounded...
Egypt struggles to get subsidised food to poor amid dollar crisis
"Any rice?" says the woman, leaning into a shop in Cairo and brandishing a green smartcard that carries her family's food credits. The shopkeeper...
Oil rally halted by US stockpiles rise and Saudi stance on cuts
Oil prices fell in Asia Friday after a sharp rise in US crude stockpiles and Saudi Arabia's rejection of proposed output cuts shot down...
Jubeir: Saudi will not cut oil production
Saudi Arabia is "not prepared" to cut oil production, its foreign minister said on Thursday, after the top exporter agreed with Russia to freeze...
