Oil prices rose on Tuesday in line with firmer financial markets and bolstered by expectations that producer group OPEC and its allies will keep withholding supply. Front-month Brent crude futures, the international benchmark for oil prices, were at $62.71 at 0630 GMT, 42 cents, or 0.7 percent, above Friday’s close. US West Texas Intermediate […]
supply
Oil rises as Saudi Arabia sees producers sticking with ongoing supply cuts
Oil prices rose on Monday after Saudi Arabia said producer club OPEC and Russia should keep supplies restricted at current levels, and in relief that the United States withdrew a tariff threat against Mexico, removing a cloud over the global economy. Despite Monday’s increases, traders said concerns about the health of the global economy and […]
Govt eyes end to power circular debt by end-2020
Prime Minister Imran Khan on Monday chaired a high-level meeting to discuss developments and reforms in the energy sector wherein he was apprised that the government has targeted to get rid of power circular debt by December 2020. The prime minister was briefed in detail about reforms in the power sector, removal of impediments in […]