Froehlich spent 16 years working at Morgan Stanley in Europe and the Middle East
US gasoline futures tumbled the most in two months amid fears that lockdowns may need to be re-imposed
This year, Oman trimmed its budget expenditure and announced liquidity support in an effort to provide some relief from the Covid-19 shock
Brent futures for August settlement gained 3 cents to $42.22 a barrel on the ICE Futures Europe exchange as of 12.03pm in Singapore
These are some of the biggest trends set to shape the region post pandemic, according to LinkedIn
In light of historic oil price routs and oversupply triggered by the novel coronavirus, how imminent and optimal is recovery for regional energy markets? Gulf Business speaks to Rita Allan, senior Construction and Projects associate at Pinsent Masons Middle East, to find out more
The kingdom has exported just one cargo to the US so far in June, equivalent to about 133,000 barrels a day
Gross domestic product is expected to shrink the most in two decades this year
The cuts were widespread across the region from South Asia and Southeast Asia to some parts of North Asia
Futures in New York fell below $35 a barrel after losing 8.3 per cent last week
Aramco will pay $24.8bn this week as a first installment in the deal
The market is grappling with record high US oil inventories and an uneven demand rebound
Non-oil growth is projected to contract by 4.1 per cent in 2020 due to the adverse implications of Covid-19
Futures dropped 1.9 per cent in New York, erasing almost all of the gains from the previous session
Murban for March sold at a $1.88 premium over the regional benchmark before plunging to discounts. For July, it will sell at a $1 premium
Brent crude, the international benchmark, fell 2.5 per cent to $41.23 a barrel at 4.29pm in London, erasing earlier gains
While crude has now doubled from its low in mid-April, the path back to pre-virus levels of oil demand still looks uncertain
Production cuts are meant to be eased to about 7.7 million barrels a day in July
Oil is still up almost 70 per cent this month as supply curbs trim a global glut and pockets of demand emerged after the easing of lockdown restrictions
Producers have lowered global oil supply by around 14-15 million barrels a day
Oil has surged about 75 per cent this month as pockets of demand return
There’s still a risk, however, that oil’s recovery could be derailed if the pandemic worsens
OPEC+ will look at all options when it meets again in June, Mohammad Barkindo said
Crude demand of about 100 million barrels a day prior to the pandemic plummeted by about 30 per cent last month
Saudi Arabia aims to pump just under 7.5 million barrels a day in June, compared with an official target of about 8.5 million a day
Kuwait imposed a 24-hour curfew on Friday for the next 20 days to contain the spread of the pandemic
Prices for benchmark Brent crude have slumped 52 per cent this year, falling far below levels that most governments in the region need to balance their budgets
US crude stockpiles rose for a 15th week, although at a slower pace, while supplies at the Cushing storage hub expanded
The company’s first-quarter sales dropped 18 per cent to SAR30.83bn
He added that state oil revenue has decreased by more than half, and non-oil revenue will decrease as well