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Organisation of Petroleum Exporting Countries (OPEC)

UAE energy minister says average oil price in 2018 was $70 a barrel

UAE energy minister says average oil price in 2018 was $70 a barrel

Sat, Jan 12, 2019

The Organization of the Petroleum Exporting Countries and other leading global oil producers led by Russia agreed in December to cut their combined oil output by 1.2 million barrels per day to balance the oil market starting from January.

Petrol exports in November lowest since April, shows Petroleum Ministry data

Petrol exports in November lowest since April, shows Petroleum Ministry data

Thu, Dec 15, 2016

In the month of April, the diesel exports were 20.61 lakh metric tonne.

Qatar to cut oil production from January month

Qatar to cut oil production from January month

Tue, Dec 13, 2016

State-owned Qatar Petroleum, one of the largest oil companies in the world, announced today that it will reduce production levels from the beginning of next year.

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Global oil&gas industry to see modest rebound in 2017: Moody's

Global oil&gas industry to see modest rebound in 2017: Moody's

Thu, Dec 08, 2016

"Outlook is stable for integrated oil and gas companies as their Ebitda will rise by about 5%, buoyed by stabilizing capex and a substantial re-alignment of cost structures," Moody's said in a note issued from New York.

Oil prices rise on U.S. crude stock decline, weaker dollar

Oil prices rise on U.S. crude stock decline, weaker dollar

Thu, Dec 08, 2016

"Oil prices are being supported by a raft of factors including underlying strength in the U.S. economy shown in better than expected factory and nonfarm payroll data and Chinese regulators` attempts to cut excess supply in steel and other industries," said Michael McCarthy, chief market strategist at Sydney`s CMC Markets.

Petrol, diesel price may surge by 8% in India post Opec's decision

Petrol, diesel price may surge by 8% in India post Opec's decision

Tue, Dec 06, 2016

With the rise in crude oil prices, the profitability of public sector refiners may improve in the third quarter.

A dollar increase in crude oil price raises India’s import bill by $500 million

A dollar increase in crude oil price raises India’s import bill by $500 million

Fri, Dec 02, 2016

Speculating a further increase in global crude oil prices, analysts said that every dollar increase in the price of crude oil will make India’s import bill rise by nearly half a billion dollars ($500 million).

OPEC reduces crude production, prices surge

OPEC reduces crude production, prices surge

Thu, Dec 01, 2016

The Organization of the Petroleum Exporting Countries (OPEC) agreed on Wednesday to reduce their production of crude oil to 32.5 million barrels per day, which lead to a surge in oil pricing, media reports said.

Oil, dollar and bond yields sharply higher after OPEC deal

Oil, dollar and bond yields sharply higher after OPEC deal

Thu, Dec 01, 2016

The Organization of the Petroleum Exporting Countries on Wednesday agreed to its first output cut since 2008, with Saudi Arabia accepting "a big hit" on its production. Non-OPEC Russia will also join output reductions for the first time in 15 years to help OPEC prop up oil prices.

Asian shares on the defensive as U.S. yields, dollar rise

Asian shares on the defensive as U.S. yields, dollar rise

Mon, Nov 21, 2016

"Next week, we have events that would make investors more sober, such as OPEC meeting and Italian referendum. By then this Trump-inspired market may come to an end for now," said Norihiro Fujito, senior investment strategist at Mitsubishi UFJ Morgan Stanley Securities.

Oil may rise to $55 if all producers cooperate - Iran

Oil may rise to $55 if all producers cooperate - Iran

Sat, Nov 19, 2016

"We are receiving positive signals that increase the likelihood of agreement at the meeting ... and I`m optimistic about the situation," Zanganeh told state television by telephone, after meeting OPEC Secretary-General Mohammed Barkindo in Tehran ahead of the Nov. 30 meeting.

Oil prices extend rally, shrug off U.S. stock build

Oil prices extend rally, shrug off U.S. stock build

Wed, Nov 16, 2016

Oil futures rose on Wednesday, shrugging off an industry report that showed an unexpected build in U.S. crude stocks, and adding to gains of nearly 6 % from the previous session.

OPEC officials fail to agree on how to curb oil supplies

OPEC officials fail to agree on how to curb oil supplies

Sat, Oct 29, 2016

OPEC officials meeting in Vienna to work out the details of their plan to reduce oil production failed to reach agreement after hours of talks on Friday, amid objections by Iran which has been reluctant to even freeze its output, OPEC sources said.

Oil prices fall on rise in U.S. drilling, strong dollar

Oil prices fall on rise in U.S. drilling, strong dollar

Mon, Oct 17, 2016

Oil prices fell early on Monday, pulled down by a rising rig count in the United States, a strong dollar and record OPEC-output which comes amid slowing global economic growth that could erode fuel demand.

Oil prices edge up on tighter U.S. fuel market

Oil prices edge up on tighter U.S. fuel market

Fri, Oct 14, 2016

"Oil prices rose overnight despite rising stockpiles in the U.S., as fuel supplies in the U.S. fell to the lowest level this year," ANZ bank said in a morning note on Friday.

Asia stocks weak, dollar shines as rate view unchanged; China eyed

Asia stocks weak, dollar shines as rate view unchanged; China eyed

Thu, Oct 13, 2016

Asian stocks held near three-week lows and the greenback consolidated recent gains on Thursday after minutes of the last U.S. Federal Reserve policy meeting indicated a December rate increase was still on the cards.

Oil prices fall on higher OPEC output, U.S. crude stocks

Oil prices fall on higher OPEC output, U.S. crude stocks

Thu, Oct 13, 2016

Oil prices fell on Thursday after OPEC said that its production had risen to its highest level in at least eight years and following reports of an increase in U.S. crude stockpiles.

Oil edges up on record Indian imports, hopes of producer cut

Oil edges up on record Indian imports, hopes of producer cut

Wed, Oct 12, 2016

India`s oil imports rose 4.4% in September from the previous month to a record high 4.47 million barrels per day (bpd) as the country expanded its refining capacity to meet growing fuel demand in an expanding economy, shipping data showed.

Oil prices fall on high production despite planned OPEC output cut

Oil prices fall on high production despite planned OPEC output cut

Mon, Oct 03, 2016

Oil prices fell away from $50 per barrel on Monday despite an agreement last week by exporters to cut output, with traders doubting the step was enough to rein in production that has exceeded consumption for the better part of three years.

Domestic markets rise ahead of F&Os expiry; oil companies in focus

Domestic markets rise ahead of F&Os expiry; oil companies in focus

Thu, Sep 29, 2016

For the month of September series in the Futures & Options (F&O) will expire today.

Asian shares gain as crude oil surge improves risk appetite

Asian shares gain as crude oil surge improves risk appetite

Thu, Sep 29, 2016

A potential win by Trump, who has criticised trade agreements, has been a source of concern for US neighbours Canada and Mexico.

Oil hits multi-week lows as growing supplies stoke glut concern

Oil hits multi-week lows as growing supplies stoke glut concern

Fri, Sep 16, 2016

India`s daily oil imports from Iran rose to the highest in at least 15 years in August, according to trade sources and shipping data.

Oil prices fall as U.S. drillers add new rigs, speculators cut long positions

Oil prices fall as U.S. drillers add new rigs, speculators cut long positions

Mon, Sep 12, 2016

Crude prices fell over 1.5 % on Monday after U.S. oil drillers added rigs to look for new production as producers adapt to cheaper crude, with speculators cutting positions betting on further price rises.

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