A new mechanism adopted by OPEC+ to assess members’ maximum output capacity will ultimately help to stabilise markets and reward those who invest in production, Saudi Energy Minister Prince Abdulaziz bin Salman said on Monday. The OPEC+ group approved the mechanism to assess members’ maximum production capacity to be used for setting baselines from 2027, against which their output targets are s
Oil prices climbed in early trade on Tuesday for a second consecutive session as market participants assessed risks stemming from Ukrainian drone strikes on Russian energy sites and mounting U.S.-Venezuela tensions. Brent crude futures rose 14 cents, or 0.2%, to $63.31 a barrel by 0102 GMT. U.S. West Texas Intermediate crude gained 18 cents, or 0.3%, to $59.50 a barrel. Both benchmarks advan
The Pakistani rupee strengthened against the US dollar, appreciating 0.09% during the opening minutes of trading in the inter-bank market on Tuesday. At 10am, the local currency was hovering at 280.25, a gain of Re0.26 against the greenback. On Monday, the local unit closed at 280.51. Internationally, the US dollar remained under pressure on Tuesday as weaker-than-expected manufacturing acti
The Pakistan Stock Exchange (PSX) witnessed a strong momentum on Thursday as the benchmark KSE-100 index surged nearly 2,200 points, powered by robust institutional buying and renewed interest in blue-chip shares. The rally, which pushed the index to the intra-day high of over 2,400 points, marked a sharp shift from the sluggish pace in recent days and reflected improving sentiment despite ling
Pakistan's foreign exchange reserves recorded a marginal increase during the week ended November 21, 2025, with the State Bank of Pakistan (SBP) reporting a $9 million rise in its holdings. According to data released on Thursday, the SBP's reserves reached $14,560.7 million, helping lift the country's total liquid foreign exchange reserves to $19,605 million. Data breakdown showed that commerci