Opec
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UAE to cut oil production by 139,000 barrels in line with OPEC decision
Business | Oct 02, 2017, 09:53 AM ISTOPEC members began officially cutting production earlier this year in an attempt to restore stability of the oil markets.
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OPEC agrees to extend oil output cuts till March: report
May 26, 2017, 01:03 PM ISTIranian channel Press TV reported that the decision of the 13-nation cartel to extend the cuts for 9 months would effectively lower OPEC's production by 1.8 million barrels per day
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Demonetisation woes: OPEC production cut will have adverse impact on Indian economy
Dec 14, 2016, 02:30 PM ISTEven as the Indian economy struggles to cope with the fallout of demonetisation, the production cut announced by the Organisation of Petroleum Exporting Countries may further add to its woes. The Indian basket of crude
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OPEC decision to cut production could lead to higher petrol, diesel prices in next 3-4 months: Crisil
Dec 06, 2016, 09:45 PM ISTFollowing the Organisation of Petroleum Exporting Countries' (Opec) decision to cut crude oil production by 1.2 million barrels per day (mpbd), the price of petrol is expected to go up by 5-8 per cent and
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12 pc spike in oil prices after OPEC deal to cut production
Dec 01, 2016, 12:15 PM ISTOil prices surged over 12 percent on Wednesday after OPEC representatives reached a landmark deal to reduce oil output to drain a global supply glut. The Organization of the Petroleum Exporting Countries said Wednesday that
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Oil prices plunge amid ample supplies
World | Dec 12, 2015, 07:14 AM ISTNew York: Oil prices dived on Friday as market expected the global supplies to exceed the demand.Last Friday, the Organisation of the Petroleum Exporting Countries (OPEC) kept crude production pumping at current level in an
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Oil prices near seven-year low as OPEC refuses to cut down production
Dec 08, 2015, 11:19 AM ISTNew York: As OPEC, the international organization of oil exporting countries, refused to cut down production, the prices of oil dropped sharply bringing it down to the lowest level since February 2009.The sharp drop in
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Oil at sub-$49 brings fuel price cuts
Aug 17, 2015, 03:56 PM ISTNew Delhi: After having dropped below the psychological $50-a-barrel-mark earlier in the week, the Indian basket of crude oils closed below $49 on its last trading on the eve of Independence Day.State-run Indian Oil Corp
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Oil prices plunge amid ample supplies
Aug 04, 2015, 12:10 PM ISTNew York: Oil prices plunged as the market expected crude production from the Organisation of Petroleum Exporting Countries (OPEC) to hit a high in July.In June, OPEC production increased by 283,000 barrels per day to
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Oil prices retreat amid supply glut worries
Jul 24, 2015, 11:50 AM ISTNew York: Oil prices went down as the market continued to worry about the global supply glut.US crude supplies of last week added 2.5 million barrels to 463.89 million, according to the weekly report of
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India to benefit from oil price fall post-Iran deal: Pradhan
Jul 15, 2015, 03:01 PM ISTNew Delhi: International oil prices will come down with the imminent lifting of sanctions against Iran and benefit India, Petroleum Minister Dharmendra Pradhan said today.“With Iran coming to market, the assumption is that there will
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Oil prices down in Asian trade
May 12, 2015, 10:37 AM ISTSingapore: Crude prices edged lower in Asia today on worries about a global oversupply after a veteran former energy minister in Qatar warned OPEC members against cutting output unilaterally.US benchmark West Texas Intermediate for June
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Oil price rises after death of Saudi king, but effect seen muted
Jan 23, 2015, 08:25 AM ISTNew York: Oil prices rose on the news of the death of Saudi Arabia's King Abdullah on Thursday, but the king's death is not expected to change the course of oil prices over the next
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Iran urges Saudi Arabia help to stop oil price slump
World | Jan 18, 2015, 06:33 AM ISTTehran: Iran has urged Saudi Arabia to help stop the continuous slump in oil prices in order to protect the economies of the region's oil producing countries, media reports said."We have told Saudi Arabian officials
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Oil prices likely to fall further: IEA
Nov 16, 2014, 10:46 AM ISTParis: The International Energy Agency (IEA) is maintaining its forecast of a weak increase in global oil demand this year, pointing out that the demand might increase slightly in 2015.In its monthly report released Friday,
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Venezuela blames US for global oil price slump
World | Oct 17, 2014, 12:55 PM ISTCaracas: Venezuelan President Nicolas Maduro has blamed Washington for the slump in global oil prices.Washington was "flooding" the market with cheaper shale oil to bring down prices and ultimately impact Russia and other oil-producing nations,