In a statement on Sunday, the cartel announced that Iraq, Kuwait, Russia, Saudi Arabia and the UAE would see their limits rise.
July 18, 2021Pradhan flagged concerns over the increasing crude oil prices and its impact on consumers as well as on smart economic recovery.
June 25, 2021The oil cartel and its allied nations agreed to add back some 2 million barrels per barrel per day of oil production from May to July.
April 2, 2021India has been hit hard by soaring oil prices and urged producers to ease the output cut to back the global economy to recover.
March 13, 2021The surge in the retail prices comes despite a surge in crude oil prices. Brent crude futures are currently over $69 per barrel.
March 7, 2021Experts had broadly expected OPEC+ to reverse some of the output cuts.
March 5, 2021Earlier this week, Pradhan had said India, where fuel demand is recovering to pre-pandemic levels, wants reasonable and responsible oil prices.
March 5, 2021Talking to the media, Dharmendra Pradhan, on Sunday, said that there are two main reasons behind the fuel price rise.
February 21, 2021The March contract of Brent on the Intercontinental Exchange (ICE) was at $54.70 a bbl, higher by 0.74 per cent from its previous close.
January 7, 2021OPEC and its allies led by Russia agreed to reduce output by 9.7 million barrels per day (bpd) for May and June.
May 1, 2020U.S. benchmark, West Texas Intermediate (WTI), plunged below the $15 per barrel mark as the lockdown led by the COVID-19 pandemic.
April 20, 2020The deal and its announcement came after Russia and Saudi Arabia ended their oil price war to control the plunging oil prices.
April 18, 2020The agreement between the Vienna-based Organization of the Petroleum Exporting Countries and partners foresees deep output cuts in May and June followed by a gradual reduction in cuts until April 2022.
April 13, 2020India being world's third-largest oil consumer is planning to spend $ 670 million to buy oil at around the $30 a barrel for its strategic reserves purchased from Saudi Arabia and UAE.
April 11, 2020Reports suggest that the new rift between the OPEC de facto leader Saudi Arabia and other major oil producer Russia has led to the postponement of the meeting.
April 6, 2020Saudi Arabia’s reaction comes a day after Russian President Vladimir Putin blamed the kingdom for the collapse in global energy prices.
April 4, 2020Oil prices sharply fell after the so-called OPEC+ group of countries including Russia failed to agree to production cuts in early March.
April 4, 2020