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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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Saudi Arabia, Russia sign oil pact; may freeze output in future

Saudi Arabia, Russia sign oil pact; may freeze output in future

Tue, Sep 06, 2016

Saudi Arabia and Russia agreed on Monday to cooperate in world oil markets, saying they will not act immediately but could limit output in the future, sending prices higher on hopes the two top oil producers would work together to tackle a global glut.

Oil up but heads for biggest weekly loss in 8 months

Oil up but heads for biggest weekly loss in 8 months

Fri, Sep 02, 2016

"Prices are up on a weaker dollar in the aftermath of the U.S. ISM numbers yesterday and Putin`s latest attempt to stabilise the price," said Saxo Bank senior manager Ole Hansen.

Crude oil falls towards $49 per barrel on high output, strong dollar

Crude oil falls towards $49 per barrel on high output, strong dollar

Mon, Aug 29, 2016

Oil fell towards $49 a barrel on Monday, pressured by high output from Middle East organisation of OPEC members and as a stronger US dollar weighed on commodities.

Oil prices fall in early trade as Saudi Arabia dampens prospects of output freeze

Oil prices fall in early trade as Saudi Arabia dampens prospects of output freeze

Fri, Aug 26, 2016

Oil prices dipped in early trading on Friday after the Saudi Arabia energy minister tempered expectations of strong market intervention by producers during talks next month.

Oil prices fall on unexpected US crude stocks build; fears over China demand

Oil prices fall on unexpected US crude stocks build; fears over China demand

Wed, Aug 24, 2016

Oil prices fell early on Wednesday as an unexpected build in US crude stocks weighed on markets, along with concerns that Chinese crude demand could falter as Beijing clamps down on alleged tax evasion in the oil industry.

Oil prices fall on doubts producers can agree output restraint

Oil prices fall on doubts producers can agree output restraint

Wed, Aug 17, 2016

Oil prices fell away from five-week highs early on Wednesday, as analysts doubted possible producer talks to rein in ballooning oversupply would be successful.

Oil prices edge up on potential producer action to prop up market

Oil prices edge up on potential producer action to prop up market

Mon, Aug 15, 2016

Oil prices rose on Monday to fresh highs for the month of August, with the Brent benchmark gaining 11% since the start of the month, as speculation intensifies about potential producer action to support prices in an oversupplied market.

Mandi Live : Credit Suisse's presumption on average price of crude in 2016

Mandi Live : Credit Suisse's presumption on average price of crude in 2016

Wed, Jul 13, 2016

Credit Suisse's presumption on the average price of Crude in 2016. Watch this special segment and get to know about the latest news and updates here. Zee Business is one of the leading and fastest growing Hindi business news channels in India.

Oil dips back below $50 on economic worries

Oil dips back below $50 on economic worries

Tue, Jul 05, 2016

"The deterioration in the global economic outlook, financial market uncertainty and ripple effects on key areas of oil demand growth are likely to exacerbate already-lacklustre industrial demand growth trends," Barclays said in a report.

International oil markets to balance out by end of 2016: IEA

International oil markets to balance out by end of 2016: IEA

Tue, Jun 14, 2016

A huge overhang in oil stocks lingering across the world will keep a cap on any further oil price rises, the IEA said on Tuesday, even as supply and demand move towards balance by the end of the year.

Crude oil touches $50, India pays 8% less; here’s why

Crude oil touches $50, India pays 8% less; here’s why

Fri, Jun 03, 2016

Crude oil has touched $50 to a barrel and many experts believe that $50-$60 per barrel is now going to be the average price of crude oil. Although this is nearly 50% higher from its lows of last year but this is also lower than half of its two-year peak of over $100 per barrel.

Brent crude oil held at $50 a barrel

Brent crude oil held at $50 a barrel

Fri, Jun 03, 2016

Brent oil prices held around $50 a barrel on Friday following an OPEC meeting that failed to agree on output targets, but which was seen as supportive as Saudi Arabia pledged not to flood the market with more fuel.

Saudi Arabia promises not to shock oil market as OPEC debates policy

Saudi Arabia promises not to shock oil market as OPEC debates policy

Thu, Jun 02, 2016

Several OPEC sources said Saudi Arabia and its Gulf allies had tried to propose a new collective ceiling in an attempt to repair OPEC's waning importance and end a market-share battle that has sapped prices and cut investment.

Asian oil prices slip on strong dollar, firm global supplies

Asian oil prices slip on strong dollar, firm global supplies

Mon, May 23, 2016

In a further sign of abundant supply, the number of rigs operated by US drillers was steady last week for the first time this year.

Decline in non-OPEC production key to recovery of oil price: Report

Decline in non-OPEC production key to recovery of oil price: Report

Tue, May 10, 2016

Goldman said it expects a sustained deficit in the third quarter of the year, until which oil prices are seen trading around current levels.

Long-serving Saudi oil minister sacked in government shake-up

Long-serving Saudi oil minister sacked in government shake-up

Sat, May 07, 2016

Saudi King Salman replaced his long-serving oil minister on Saturday as part of a major government overhaul which comes as the kingdom grapples with a slump in energy revenues.

Oil prices end slightly lower on profit-taking after solid gains

Oil prices end slightly lower on profit-taking after solid gains

Sat, Apr 30, 2016

The US oil surged about 20% in April, the largest monthly gain in a year, helped by a weaker US dollar and reduced US crude output.

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