OPEC

India discusses 'Oil Buyers Club' with China; seeks US crude to counter OPEC

India discusses 'Oil Buyers Club' with China; seeks US crude to counter OPEC

Production cuts by OPEC have led to international oil prices hitting a four year high last month that forced a Rs 3.8 per litre hike in petrol and Rs 3.38 a litre increase in diesel prices.

Jun 13, 2018, 18:02 PM IST
Oil prices slump as OPEC and Russia consider output boost

Oil prices slump as OPEC and Russia consider output boost

Brent crude futures fell $2.35, or 3 percent, to settle at $76.44 a barrel. 

May 26, 2018, 09:02 AM IST
Increase in fuel prices due to reduced production of oil in OPEC, solution soon: Union Petroleum Minister Dharmendra Pradhan

Increase in fuel prices due to reduced production of oil in OPEC, solution soon: Union Petroleum Minister Dharmendra Pradhan

Petrol prices on Sunday touched a record high of Rs 76.24 per litre and diesel climbed to its highest-ever level of Rs 67.57 as the oil PSUs passed on four weeks of relentless rise in international oil prices to consumers.

May 20, 2018, 22:50 PM IST
IOC Q3 profit beats estimates, profit doubles to Rs 7,883 crore

IOC Q3 profit beats estimates, profit doubles to Rs 7,883 crore

The PSU booked higher inventory gains due to a sharp rise in global oil prices.

Jan 30, 2018, 17:28 PM IST
Brent oil hits $71 for 1st time since 2014 as dollar drops, US stocks decline

Brent oil hits $71 for 1st time since 2014 as dollar drops, US stocks decline

Analysts said that rising oil prices would likely start to have an inflationary effect.

Jan 25, 2018, 11:26 AM IST
Oil prices slip as analysts warn of correction after 13% gain in the past month

Oil prices slip as analysts warn of correction after 13% gain in the past month

Brent crude futures were at $69.07 a barrel at 0441 GMT, down from a high of $69.37 earlier in the day and 18 cents below their last close.

Jan 17, 2018, 12:36 PM IST
Oil prices near three-year highs, supported by healthy demand

Oil prices near three-year highs, supported by healthy demand

Prices have been driven up by production curbs in OPEC nations and Russia, as well by strong demand thanks to healthy economic growth.

Jan 16, 2018, 12:45 PM IST
Oil bounces back from losses prompted by US fuel stocks

Oil bounces back from losses prompted by US fuel stocks

Data from the Energy Information Administration (EIA) on Wednesday showed that US crude oil inventories fell by 5.6 million barrels in the week to December 1, to 448.1 million barrels, putting stocks below seasonal levels in 2015 and 2016.

Dec 07, 2017, 21:26 PM IST
Oil steadies above $62 per barrel, expected fall in US inventory supports

Oil steadies above $62 per barrel, expected fall in US inventory supports

An OPEC-led producer group last week extended a supply-cutting deal through 2018, but the resulting support for prices could bolster US output which climbed to nearly 9.5 million barrels per day in September.

Dec 05, 2017, 16:43 PM IST
OPEC will stick to policy in second half of 2018: Saudi Arabia

OPEC will stick to policy in second half of 2018: Saudi Arabia

Saudi Arabian energy minister Khalid al-Falih was speaking after meeting with US Energy Secretary Rick Perry, who said OPEC would make its own decisions and that he was comfortable the United States could work within those parameters.

Dec 04, 2017, 13:49 PM IST
Oil falls on uncertainty over OPEC deal, rise in US inventories

Oil falls on uncertainty over OPEC deal, rise in US inventories

Brent crude futures were down 34 cents on the day at $63.27 a barrel, while US light crude fell 31 cents to $57.68 a barrel.

Nov 29, 2017, 16:34 PM IST
US crude extends rally to $58 per barrel, first time since 2015

US crude extends rally to $58 per barrel, first time since 2015

Brent crude, the global benchmark, was up 57 cents at USD 63.14.

Nov 22, 2017, 18:35 PM IST
Oil steady near two-year highs, US supply increase caps rise

Oil steady near two-year highs, US supply increase caps rise

Middle East tensions have supported the market, despite concerns that output could rise further.

Nov 13, 2017, 23:27 PM IST
Oil dips on falling Chinese crude imports; overall market still well supported

Oil dips on falling Chinese crude imports; overall market still well supported

China's October oil imports fell sharply from a near record-high of about 9 million barrels per day in September to just 7.3 million barrels per day in October, data from the General Administration of Customs showed on Wednesday.

Nov 08, 2017, 10:54 AM IST
Oil up on signs of tighter market, but 2018 looks more uncertain

Oil up on signs of tighter market, but 2018 looks more uncertain

Traders said they would look to the US fuel inventory data on Wednesday and Thursday for indicators on price direction.

Oct 11, 2017, 09:47 AM IST

Bold reforms have put India firmly on growth path: OPEC

In particular, OPEC's Secretary General Mohammed Barkindo said, oil cartel is working to better understand the potential impacts that such beneficial economic changes may have on future oil demand.

Oct 10, 2017, 16:53 PM IST
Oil prices stable as OPEC says market is rebalancing

Oil prices stable as OPEC says market is rebalancing

Traders said that oil prices were supported as the Organization of the Petroleum Exporting Countries (OPEC) said oil markets were rebalancing fast after years of oversupply.

Oct 10, 2017, 09:32 AM IST
Dharmendra Pradhan raises with OPEC issue of premium being charged on oil

Dharmendra Pradhan raises with OPEC issue of premium being charged on oil

India`s engagement with the OPEC is important as India sources about 86 percent of crude oil, 75 percent of natural gas, 95 percent of LPG from the OPEC member countries.

Oct 09, 2017, 09:12 AM IST
Dharmendra Pradhan raises issue of premium on oil supplied to Asian countries by OPEC

Dharmendra Pradhan raises issue of premium on oil supplied to Asian countries by OPEC

Petroleum Minister Dharmendra Pradhan on Sunday again raised the issue of premium being charged on oil supplied to Asian countries by some OPEC members and asked that a reasonable pricing policy be adopted by the 13-nation producers' cartel.

Oct 08, 2017, 23:37 PM IST

Venezuela's unrest, food scarcity take psychological toll on children

Venezuelan siblings Jeremias, 8, and Victoria, 3, were in their pajamas and preparing to go to bed when a tear gas canister smashed through their family`s kitchen window in early July.

Oct 05, 2017, 18:22 PM IST

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