Tag: OPEC
17 Results
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Wrong to blame OPEC for soaring fuel prices: Yashwant Sinha
"This is the first time in over four years that this government is facing a minor problem on the economic front. But they are unable to handle the crisis and coming out with all sorts of justifications," said Sinha.
September 11, 2018 -
Oil prices rise as crude output cut extended
Oil prices rebounded as the OPEC (Organization of the Petroleum Exporting Countries) and non-OPEC oil producers agreed to extend the production cut till the end of 2018. The West Texas Intermediate for January delivery on Thursday increased $0.10 to settle at $57.40 dollars a barrel on the New York Mercantile Exchange, while Brent crude for …
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December 1, 2017 -
Oil prices rise ahead of OPEC meeting
Oil prices climbed on Tuesday as investors were awaiting the closely-watched OPEC (Organisation of the Petroleum Exporting Countries) meeting next week, a media report said. OPEC and other key oil producers will meet on November 30 to discuss whether to extend the current price-supporting curbs on crude output, Xinhua news agency reported. In a bid …
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November 22, 2017 -
Oil prices decline ahead of OPEC meeting
Oil prices declined as investors became cautious ahead of an OPEC (Organisation of the Petroleum Exporting Countries) meeting next week, a media report said. OPEC and other key oil producers will meet on November 30 to discuss whether to extend the current price-supporting curbs on crude output, Xinhua news agency reported. In a bid to …
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November 21, 2017 -
Oil prices rise amid OPEC monthly report
New York: Oil prices rallied for a third straight session as the Organization of the Petroleum Exporting Countries (OPEC) said the oil market showed signs of rebalancing. The West Texas Intermediate for November delivery on Wednesday increased $0.38 to settle at $51.30 a barrel on the New York Mercantile Exchange, while Brent crude for December …
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October 12, 2017 -
Oil prices fall on OPEC compliance concerns
Oil prices fell on Monday as investors were concerned that major oil exporters' output cut deal may not be effective enough. The West Texas Intermediate for September Delivery lost $0.19 to settle at $49.39 a barrel on the New York Mercantile Exchange, while Brent crude for October delivery erased $0.05 to close at $52.37 a …
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August 8, 2017 -
Indian basket of crude oils goes below $50 per barrel
The Indian basket of crude oils closed below the psychologically important $50-a-barrel mark on Monday as geopolitical tensions in the Middle East raised market concerns. Crude prices continued on their downward spiral following the OPEC cartel's decision last month to extend output cuts. According to the latest official data, the Indian basket, comprising 73 per …
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June 6, 2017 -
OPEC agrees to extend oil output cuts till March
The Organization of the Petroleum Exporting Countries (OPEC) on 25 May agreed to extend until March 2018 an oil output cut agreement put in place for six months effective from 1 January and will expire in June, Iranian media reported. Iranian channel Press TV reported that the decision of the 13-nation cartel that includes Iran …
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May 26, 2017 -
Indian crude oil basket goes below $50 a barrel
The Indian basket of crude oils went below the psychological $50-a-barrel-mark this week as global prices fell on the back of a supply glut from rising US crude inventories, offsetting some of the output cut efforts from the Organisation of the Petroleum Exporting Countries (OPEC). As per available data, the Indian basket, comprising 73 per …
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March 24, 2017 -
Oil prices decline on rising US stockpiles
Oil prices extended losses on Thursday as rising US crude inventories intensified concerns about market oversupply. The US Energy Information Administration (EIA) said on Wednesday that the country's crude inventories climbed by almost 5 million barrels to 533.1 million last week, far outpacing forecasts for an increase of 2.8 million, Xinhua news agency reported. Analysts …
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March 24, 2017 -
Oil prices decline on rising US stockpiles
Oil prices extended losses on Thursday as rising US crude inventories intensified concerns about market oversupply. The US Energy Information Administration (EIA) said on Wednesday that the country's crude inventories climbed by almost 5 million barrels to 533.1 million last week, far outpacing forecasts for an increase of 2.8 million, Xinhua news agency reported. Analysts …
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March 24, 2017 -
Oil prices drop on OPEC deal concern
Oil prices have ended lower on rising concerns over the extent of the OPEC (Organization of the Petroleum Exporting Countries) member countries implementing the output cut deal. OPEC reached an agreement in November to cut oil production to curb a global supply glut that has depressed prices for more than two years, Xinhua news agency …
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January 14, 2017 -
Oil prices drop on OPEC deal concern
Oil prices have ended lower on rising concerns over the extent of the OPEC (Organization of the Petroleum Exporting Countries) member countries implementing the output cut deal. OPEC reached an agreement in November to cut oil production to curb a global supply glut that has depressed prices for more than two years, Xinhua news agency …
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January 14, 2017 -
Commodity stocks shine even as broader markets consolidate
Higher prices of crude oil and metals in global markets spurred heavy demand for commodity related stocks such as ONGC, Oil India and NMDC on Dalal Street on Monday. Traders were seen placing long bets in such counters in the derivatives market where these stocks rose accompanied with a jump in open interest positions. Crude …
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December 12, 2016 -
Oil market stabilised by output cut vital for India: OPEC
The 13-nation OPEC cartel said on Monday that a stable oil market, which will result from the recent move to cut output.
December 6, 2016 -
Oil market stabilised by output cut vital for India: OPEC
The 13-nation OPEC cartel said on Monday that a stable oil market, which will result from the recent move to cut output.
December 6, 2016 -
Iraqi PM says his country will cut oil production
Iraq’s prime minister says his country will agree to cut its own oil production as part of a plan by OPEC to push crude prices higher. Prime Minister Haider al-Abadi told The Associated Press that current prices are not sustainable for oil-producing countries. Al-Abadi’s comments could be critical because Iraq along with Iran has been …
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November 29, 2016