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OPEC

China's soft crude oil imports show impact of high prices: Report

China's soft crude oil imports show impact of high prices: Report

Thu, Dec 07, 2023

China was supposed to be the driving force behind global oil demand growth this year.

OPEC+ agrees to deepen voluntary oil output cuts

OPEC+ agrees to deepen voluntary oil output cuts

Fri, Dec 01, 2023

OPEC+ oil producers on Thursday agreed to voluntary output cuts totalling about 2.2 million barrels per day (bpd) for early next year led by Saudi Arabia rolling over its current voluntary cut.

Oil prices tick higher on OPEC demand optimism

Oil prices tick higher on OPEC demand optimism

Fri, Aug 11, 2023

Oil prices edged higher on Friday on optimism from the OPEC producer group that oil demand will be robust in 2024 as it also nudged up its expectations for global economic growth.

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Oil rises on views OPEC+ may pause supply addition amid Omicron fears

Oil rises on views OPEC+ may pause supply addition amid Omicron fears

Thu, Dec 02, 2021

The Organization of the Petroleum Exporting Countries and its allies, together known as OPEC+, will likely decide on Thursday whether to release more oil into the market as previously planned or restrain supply.

Oil prices rally ahead of OPEC meeting despite Omicron concerns

Oil prices rally ahead of OPEC meeting despite Omicron concerns

Wed, Dec 01, 2021

Oil prices rose more than 4% on Wednesday as major producers prepared to discuss future output against the backdrop of the new Omicron variant of the coronavirus triggering fresh travel restrictions which could dampen oil demand.

Oil rises 1% ahead of OPEC meeting under Omicron cloud

Oil rises 1% ahead of OPEC meeting under Omicron cloud

Wed, Dec 01, 2021

The Organization of the Petroleum Exporting Countries (OPEC) will meet on Wednesday after 1300 GMT ahead of a meeting on Thursday of OPEC+, which includes OPEC and allies including Russia.

Oil prices rise on bets OPEC+ will hold off output hike

Oil prices rise on bets OPEC+ will hold off output hike

Tue, Nov 30, 2021

Oil prices climbed on Tuesday, extending a rebound from last week`s plunge on growing expectations major producers would pause plans to add crude supply in January amid uncertainty over the severity of the Omicron coronavirus variant.

Oil slips awaiting OPEC+ response to US-led crude release

Oil slips awaiting OPEC+ response to US-led crude release

Thu, Nov 25, 2021

Oil prices ticked lower on Thursday with investors waiting to see how major producers respond to the emergency crude release by major consuming countries designed to cool the market, even as data pointed to healthy U.S. fuel demand.

India working on release of oil reserves after US request

India working on release of oil reserves after US request

Mon, Nov 22, 2021

India is working on ways to release crude oil from its strategic storages in tandem with other major economies to dampen prices, a top government official said on Monday.

Oil prices rise as traders await OPEC+ meeting

Oil prices rise as traders await OPEC+ meeting

Tue, Nov 02, 2021

Oil prices advanced on Monday as traders are awaiting a key meeting of the Organization of the Petroleum Exporting Countries and its allies, collectively known as OPEC+.

Crude jumps on global energy crunch; U.S. oil at 7-year high

Crude jumps on global energy crunch; U.S. oil at 7-year high

Mon, Oct 11, 2021

Oil prices surged again on Monday, extending multiweek gains as an energy crisis gripping major economies shows no sign of easing amid supply restraint from major producers.

Oil at new multi-year highs, Asian shares fall

Oil at new multi-year highs, Asian shares fall

Wed, Oct 06, 2021

The gains in oil are driven by concerns about energy supply, and come two days after the OPEC+ group of producers stuck to its planned output increase rather than raising it further.

OPEC supply restraint, hardening oil prices see oil companies' shares flying

OPEC supply restraint, hardening oil prices see oil companies' shares flying

Tue, Oct 05, 2021

Shares of oil companies were flying on the bourses on Tuesday, following further strengthening of global crude oil prices on Monday with oil cartel OPEC+ deciding to continue with their gradual approach to raise production.

OPEC+ considers options for releasing more oil to the market -sources

OPEC+ considers options for releasing more oil to the market -sources

Fri, Oct 01, 2021

OPEC+ is considering going beyond its existing deal to boost production by 400,000 barrels per day (bpd) when it meets next week, sources said.

Oil falls 5% after OPEC+ producers agree to raise output

Oil falls 5% after OPEC+ producers agree to raise output

Mon, Jul 19, 2021

OPEC+ ministers agreed on Sunday to increase oil supply from August to cool prices that this month hit their highest level in more than two years as the global economy recovers from the COVID-19 pandemic

OPEC+ agrees oil supply boost from August as prices surge

OPEC+ agrees oil supply boost from August as prices surge

Sun, Jul 18, 2021

The group, which includes OPEC countries and allies like Russia, crucially agreed new production allocations from May 2022 to overcome differences between Saudi Arabia and the United Arab Emirates (UAE) that threatened the plan

OPEC+ meeting called off: Why this meeting was crucial, will petrol prices decrease?

OPEC+ meeting called off: Why this meeting was crucial, will petrol prices decrease?

Tue, Jul 06, 2021

As crude oil prices peaked at a three-year high, Zee Business Commodity Editor Mrituenjay Jha explained the road ahead and what would happen as the OPEC and non-OPEC members' three-day meeting has been called off without any constructive decision.

OPEC+ meeting called off: Why this meeting was crucial, will petrol prices decrease? Check this report

OPEC+ meeting called off: Why this meeting was crucial, will petrol prices decrease? Check this report

Tue, Jul 06, 2021

As crude oil prices peaked at a three-year high, Zee Business Commodity Editor Mrituenjay Jha explained the road ahead and what would happen as the OPEC and non-OPEC members' three-day meeting has been called off without any constructive decision.

Why it's IMPORTANT crude oil prices remain within REASONABLE band? Check what Petroleum Minister Dharmendra Pradhan URGED OPEC - all details here

Why it's IMPORTANT crude oil prices remain within REASONABLE band? Check what Petroleum Minister Dharmendra Pradhan URGED OPEC - all details here

Fri, Jun 25, 2021

In a high-level meeting on Thursday with Dr. Mohammed Sanusi Barkindo, Secretary General, Organisation of Petroleum Exporting Countries ( OPEC), Union Minister of Petroleum and Natural Gas and Steel Dharmendra Pradhan flagged his concerns over the increasing crude oil prices and its impact on consumers as well as on smart economic recovery.

Editor’s Take: OPEC’s decision to increase production reflective of growing global demand, Anil Singhvi says; to have adverse impact on Indian economy, import bills

Editor’s Take: OPEC’s decision to increase production reflective of growing global demand, Anil Singhvi says; to have adverse impact on Indian economy, import bills

Wed, Jun 02, 2021

The crude oil touched two-year high levels after OPEC (Organization of the Petroleum Exporting Countries) decided to increase output on Tuesday. Zee Business Managing Editor Anil Singhvi decodes that the rise in production and price of crude is a clear indication of global recovery.

Oil drops on dollar strength and OPEC+ supply expectations

Oil drops on dollar strength and OPEC+ supply expectations

Sat, Feb 27, 2021

Oil prices fell on Friday as the U.S. dollar rose while forecasts called for crude supply to rise in response to prices climbing above pre-pandemic levels.

U.S. senators press Saudi officials to put oil cut in motion

U.S. senators press Saudi officials to put oil cut in motion

Mon, Apr 13, 2020

Republican U.S. senators from oil states who recently introduced legislation to remove American troops from Saudi Arabia said on Saturday they had spoken with three officials from the kingdom and urged them to take concrete action to cut crude output

Global Oil Prices: Saudi-Mexican clash halts record oil cut deal despite Trump pressure

Global Oil Prices: Saudi-Mexican clash halts record oil cut deal despite Trump pressure

Sat, Apr 11, 2020

Global Oil Prices: Top oil nations struggled to finalise record output cuts at G20 talks on Friday to boost prices slammed by the coronavirus crisis.

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