Opec
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Seven OPEC+ nations agree to increase monthly oil production; here's the reason behind key decision
World | Jul 06, 2026, 08:03 AM ISTOPEC+ has approved a fresh increase in oil production for August as crude prices decline following easing tensions in the Middle East. The decision comes amid ongoing Iran-US peace talks and continued uncertainty over the Strait of Hormuz.
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UAE announces to quit oil production groups OPEC, OPEC+ amid global energy crisis due to Iran war
World | Apr 28, 2026, 11:53 PM ISTThe United Arab Emirates has announced its withdrawal from OPEC and OPEC+, a move that comes during a historic global energy crisis driven by the Iran conflict.
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No shortage of LPG, LNG, India looking for alternative markets to buy gas: Govt sources
Business | Mar 05, 2026, 05:52 PM ISTAs per the sources, there is no shortage of LPG or LNG as well as crude oil, in the world. The sources noted that India is in touch with other suppliers as well.
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What are OPEC and OPEC+? how does it affect global oil prices I INSIGHTS
World | Jun 02, 2024, 11:08 PM ISTOPEC+ agreed on Sunday to extend most of its deep oil output cuts well into 2025, exceeding expectations, as the group seeks to shore up the market amid tepid demand growth, high interest rates and rising rival US production.
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Oil producers, OPEC+, led by Saudis extended supply cuts amid slack prices
World | Jun 02, 2024, 10:15 PM ISTSaudi Arabia and allied oil producing countries on Sunday extended output cuts through next year, a move aimed at supporting slack prices that haven't risen even amid turmoil in the Middle East and the start of the summer travel season.
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Russia, Germany, and UK urge restraint amidst rising tensions in the Middle East
World | Apr 12, 2024, 09:48 AM ISTAmid escalating tensions sparked by an Iranian threat to strike Israel, Russia, Germany, and Britain have called for restraint in the Middle East. This comes after an airstrike on Iran's embassy compound in Damascus claimed the lives of a top Iranian general and six other military officers.
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Russian fighter jets escort Putin's plane en route to Abu Dhabi I Watch ROBUST security video
World | Dec 06, 2023, 06:30 PM ISTNotably, Putin is visiting the United Arab Emirates and Saudi Arabia on Wednesday in a rare trip abroad and will hold talks with Saudi Arabian Crown Prince Mohammed bin Salman to discuss oil, OPEC+ and the conflicts in Gaza and Ukraine.
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OPEC Plus will continue oil output cuts as prices remain unchanged
Business | Jun 05, 2023, 10:04 AM ISTIn April, Saudi Arabia, Russia, and other OPEC+ oil producers declared their intention to reduce production by 1.16 million barrels per day.
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OPEC+ output cut could lead to higher oil prices and increase India’s import expense: IEA
Business | Apr 12, 2023, 03:05 PM ISTThe International Energy Agency (IEA) has identified the recent decision by OPEC+ to reduce oil production as a potential risk to the global economy, citing concerns that it could further drive up already high prices, leading to increased import costs for nations like India.
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Joe Biden to release 15 million barrels from oil reserve, more possible
World | Oct 19, 2022, 08:11 AM ISTUnited States news: It completes the release of 180 million barrels authorized by Biden in March that was initially supposed to occur over six months.
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US President Joe Biden vows ‘consequences’ for Saudis after OPEC+ cuts output
World | Oct 12, 2022, 07:59 AM ISTOPEC+: Democratic Sen. Richard Blumenthal of Connecticut and Rep. Ro Khanna of California introduced legislation that would immediately pause all U.S. arms sales to Saudi Arabia for one year. This pause would also halt sales of spare and repair parts, support services and logistical support.
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OPEC and allies agree to gradually boost crude oil output
World | Apr 01, 2021, 11:39 PM ISTThe OPEC oil cartel and allied countries said Thursday that they have decided to add gradually add back some 2 million barrels per barrel per day of oil production from May to July, moving cautiously in pace with the recovery of the global economy from the COVID-19 pandemic.
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OPEC, oil nations agree to nearly 10M barrel cut amid coronavirus
World | Apr 13, 2020, 07:10 AM ISTOPEC, Russia and other oil-producing nations on Sunday finalized an unprecedented production cut of nearly 10 million barrels, or a tenth of global supply, in hopes of boosting crashing prices amid the coronavirus pandemic and a price war, officials said
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Oil war triggered by Saudi price cuts to benefit India immensely
Business | Mar 08, 2020, 08:52 PM ISTLarge energy consumers, including India and China, may head for an oil bonanza with the world's largest oil producer Saudi Arabia looking to ramp up production to well above 10 million barrels from next month
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India nudges Russia to get OPEC to price oil at reasonable rates
Business | Aug 30, 2019, 02:51 PM ISTOil Minister Dharmendra Pradhan, on a three-day visit to Moscow, met his Russian counterpart Alexander Valentinovich Novak to review "the entire spectrum of oil and gas cooperation," Pradhan said in a tweet after the meeting.
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Non-OPEC countries agree to extend supply cuts until next March
World | Jul 03, 2019, 06:43 AM ISTThe countries made the agreement during the 6th OPEC and non-OPEC Ministerial Meeting held here in the Austrian capital on Tuesday.
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Qatar intends to withdraw from Organization of Petroleum Exporting Countries
Business | Dec 03, 2018, 01:25 PM ISTQatar, a country of 2.6 million people where citizens make up over 10 percent of the population, discovered the offshore North Field in 1971, the same year it became independent.
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Trump requests Saudi Arabia, OPEC not to cut oil production
Business | Nov 13, 2018, 11:36 AM ISTTrump tweeted, "Hopefully, Saudi Arabia and OPEC will not be cutting oil production. Oil prices should be much lower based on supply!
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To counter OPEC, India discusses ‘Oil Buyers Club’ with China for negotiating better terms with sellers
Business | Jun 13, 2018, 06:37 PM ISTThe idea was actually floated by Oil Minister Dharmendra Pradhan’s at the International Energy Forum (IEF) meeting in New Delhi in April this year.
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OPEC should go for 'responsible pricing': Dharmendra Pradhan
Business | Oct 08, 2017, 09:22 PM ISTIndia today pressed oil cartel OPEC to adopt "responsible pricing" for oil and consider the world's third-biggest oil consumer as its preferred sales destination