Two of the world’s leading oil bodies have warned that the global glut of crude will last well into next year. The International Energy Agency has attributed the surplus to weak demand coupled with ballooning inventories and rising supply. Meanwhile, the Organization of the Petroleum-exporting Countries (OPEC) predicted a larger excess in 2017 due to new fields in non-member countries and the unexpected resilience of American shale drillers.
US starts collecting Trump's new 10% tariff
U.S. customs agents began collecting President Donald Trump's unilateral 10% tariff on all imports from many countries on Saturday, with higher levies on goods from 57 larger trading partners due to start next week.
Nasdaq set to confirm bear market as Trump tariffs trigger recession fears
The tech-heavy Nasdaq Composite index was set to confirm it was in a bear market on Friday, down more than 20 per cent from a recent record high, as investors fled riskier assets on fears that tariffs imposed by President Donald Trump could spark a trade war and tip the global economy into recession.
Dana Gas and Crescent Petroleum exceed 500M boe in Khor Mor field
UAE-based Dana Gas and Crescent Petroleum, alongside their partners in the Pearl Petroleum consortium, have said the cumulative production from their Khor Mor project, the largest non-associated gas field in Iraq, has exceeded 500 million barrels of oil equivalent (boe).
China to impose tariffs of 34% on all US goods
China has announced a slew of additional tariffs and restrictions against US goods as a countermeasure to sweeping tariffs imposed by US President Donald Trump. The Finance Ministry said it would impose additional tariffs of 34 per cent on all US goods from April 10.
The Rock and Chris Evans: A Christmas Surprise!
Every weekend Kris Fade plays the biggest tracks in the Middle East. Check out this weeks chart...
Not in the car so much while Kris, Priti and Rossi are on air? Check out the daily podcast here...
The super-star and multi-award-winning singer-songwriter, Jason Derulo is bringing the heat to Dubai.
