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The petroleum sector is facing job cuts as crude prices stay low and companies merge. Brent crude is around $63–64 per barrel, down about 10.5% this year, pushing major oil companies to reduce staff to stay profitable. This has raised concerns for supply chains and downstream markets, including lubricant production. Recent moves show the scale: […]

The petroleum industry is facing a new round of job cuts due to falling crude prices and major company mergers. Brent crude prices, currently around $63–64 per barrel, have dropped by about 10% this year. To manage costs and keep profits stable, leading oil companies are reducing staff, which may affect supply chains and downstream

Most Gulf Cooperation Council (GCC) countries are expected to see steady economic growth this year and next, driven by rising oil production, according to a recent Reuters report. Economists have also raised Saudi Arabia’s growth forecast, reflecting its strong comeback as the region’s largest economy. After cutting oil output in early 2023, OPEC+ has shifted

The UAE stock market showed a mixed performance on Friday, influenced by regional developments and global oil trends. Investor sentiment improved slightly following news of a ceasefire in Gaza, which helped ease geopolitical tension in the Middle East. However, a drop in oil prices kept the overall mood cautious. In Dubai, the main index edged

In the UAE, the Fuel Price Committee sets petrol and diesel rates at the end of every month, following trends from the global oil market. This system, introduced in 2015, keeps local fuel prices aligned with international standards. For October, petrol prices in the UAE are expected to see only a slight change, as global

October 2025 has been a turbulent month for oil, and that affects everyone in the automotive and lubricant world. Global demand for crude is slowing, while OPEC+ and other producers try to balance supply through production cuts. This keeps prices swinging in a narrow range—sometimes up, sometimes down. A major factor driving this change is

On Tuesday, September 30, the UAE announced the fuel prices for October 2025. The Fuel Prices Monitoring Committee made a small increase for the month. Each month, the Ministry of Energy sets prices based on the average global oil rate, plus the operating costs of local fuel companies. The new fuel prices will take effect

The UAE has released the official fuel prices for October, which will take effect from October 1. In September, fuel prices saw a small increase after a slight drop in August. The new rates are as follows: Fuel prices have a direct impact on transport and logistics, which in turn influence the overall cost of

Global oil prices are climbing this month due to supply concerns and market tensions. Dubai: The UAE will soon announce petrol and diesel prices for October 2025, and residents are keeping a close eye as these updates affect daily fuel budgets and expenses. For September, prices saw a small increase compared to August: Since the