Tag: OPEC
17 Results
-
OPEC, allies reach ‘full agreement’ after production spat
In a statement on Sunday, the cartel announced that Iraq, Kuwait, Russia, Saudi Arabia and the UAE would see their limits rise.
July 18, 2021 -
Govt flags concerns over crude oil prices in high-level consultation meeting with OPEC Secretary General
Pradhan flagged concerns over the increasing crude oil prices and its impact on consumers as well as on smart economic recovery.
June 25, 2021 -
OPEC, allies will gradually increase oil production in the coming months
The 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, 2021 -
India’s firm stand on OPEC+ production cut ensures complete oil supply
India 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, 2021 -
Petrol prices unchanged across metros for 8th day
The surge in the retail prices comes despite a surge in crude oil prices. Brent crude futures are currently over $69 per barrel.
March 7, 2021 -
Oil advances as OPEC+ extends most output cuts; Russia, Kazakhstan to raise production in April
Experts had broadly expected OPEC+ to reverse some of the output cuts.
March 5, 2021 -
OPEC ignores India’s call; Saudi asks New Delhi to use cheap oil it bought last year
Earlier this week, Pradhan had said India, where fuel demand is recovering to pre-pandemic levels, wants reasonable and responsible oil prices.
March 5, 2021 -
‘I believe Finance Minister can find a way’: Petroleum Minister Dharmendra Pradhan on fuel price hike
Talking to the media, Dharmendra Pradhan, on Sunday, said that there are two main reasons behind the fuel price rise.
February 21, 2021 -
Brent crude nears $55/bbl with Saudis pledging supply cut
The March contract of Brent on the Intercontinental Exchange (ICE) was at $54.70 a bbl, higher by 0.74 per cent from its previous close.
January 7, 2021 -
Crude oil price bounce higher after OPEC+ deal to cut output comes into effect
OPEC and its allies led by Russia agreed to reduce output by 9.7 million barrels per day (bpd) for May and June.
May 1, 2020 -
Supply-demand mismatch pushes oil prices to 21-year low at 14$
U.S. benchmark, West Texas Intermediate (WTI), plunged below the $15 per barrel mark as the lockdown led by the COVID-19 pandemic.
April 20, 2020 -
Saudi Aramco to supply 8.5 mn bpd from May to Asian refiners
The deal and its announcement came after Russia and Saudi Arabia ended their oil price war to control the plunging oil prices.
April 18, 2020 -
OPEC members agree on ‘historic’ output cuts amid COVID-19 pandemic lockdown
The 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, 2020 -
India will remain engine of world’s energy demand growth: Pradhan to G20 leaders
India 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, 2020 -
Crude oil prices drop after ‘OPEC+’ delays emergency meet
Reports 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, 2020 -
OPEC+ emergency meeting unlikely to take place on Monday due to new rift between Russia, Saudi Arabia
Saudi Arabia’s reaction comes a day after Russian President Vladimir Putin blamed the kingdom for the collapse in global energy prices.
April 4, 2020 -
Saudi Arabia rebukes Vladimir Putin for blaming Riyad for oil price collapse
Oil 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