OPEC

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
Oil prices dip on record US exports, but OPEC-led supply cuts lend support

Oil prices dip on record US exports, but OPEC-led supply cuts lend support

The declines came after the Energy Information Administration (EIA) said late on Wednesday that US crude oil exports jumped to 1.98 million barrels per day (bpd) last week, surpassing the 1.5 million bpd record set the previous week.

Oct 05, 2017, 11:01 AM IST
US oil dips below $50 per barrel over doubts recent rally will last

US oil dips below $50 per barrel over doubts recent rally will last

Traders said the drops came over concerns that a third-quarter market rally that had lifted Brent to mid-2015 highs by late September had been overdone.

Oct 04, 2017, 10:52 AM IST
Oil set for strongest Q3 since 2004, Iraq hints at OPEC extension

Oil set for strongest Q3 since 2004, Iraq hints at OPEC extension

Brent crude futures rose 29 cents to $55.43 a barrel by 0800 GMT, while US West Texas Intermediate (WTI) crude futures were up 42 cents at $49.90 a barrel.

Sep 20, 2017, 14:33 PM IST
Suicide attacks on restaurants, checkpoint, kill 60 in southern Iraq

Suicide attacks on restaurants, checkpoint, kill 60 in southern Iraq

Islamic State is also under siege in the Syrian city of Raqqa, its operational base for attacks in the Middle East and the West.

Sep 14, 2017, 23:37 PM IST
Oil prices fall amid broader market selloff, despite tightening supplies

Oil prices fall amid broader market selloff, despite tightening supplies

Oil traders said the crude falls came amid a selloff across many other markets, including US and Asian stocks, where investors voted with their feet amid growing scepticism US President Donald Trump, embroiled in controversy, would achieve his economic agenda.

Aug 18, 2017, 20:03 PM IST

Venezuelans stay away from polls to protest government vote

Venezuela's chief prosecutor's office reported seven deaths yesterday in clashes between protesters and police across the country. 

Jul 31, 2017, 08:00 AM IST
Donald Trump threatens sanctions if Venezuela creates Constituent Assembly

Donald Trump threatens sanctions if Venezuela creates Constituent Assembly

U.S. President Donald Trump threatened on Monday to take "strong and swift economic actions" if Venezuelan President Nicolas Maduro goes ahead with plans to create a super-legislature known as a Constituent Assembly in a July 30 vote.

Jul 18, 2017, 15:54 PM IST
Oil languishes near multi-month lows on glut fears

Oil languishes near multi-month lows on glut fears

Oil prices held near multi-month lows on Wednesday as investors discounted evidence of strong compliance by OPEC and non-OPEC oil producers with a deal to cut a global output.

Jun 21, 2017, 13:01 PM IST
Oil sits near half-year lows as global supply overhang weighs

Oil sits near half-year lows as global supply overhang weighs

Oil prices were not far off six-month lows, held down by an ongoing supply overhang that persists despite an OPEC-led effort to cut production and prop up crude markets.

Jun 16, 2017, 10:38 AM IST
Oil hits 6-week low as OPEC fails to curb oversupply

Oil hits 6-week low as OPEC fails to curb oversupply

Brent crude oil fell 30 cents to USD 46.70 a barrel, its weakest since May 5 and just above six-month lows, before recovering a little to trade around USD 46.90 by 0945 GMT.

Jun 15, 2017, 15:58 PM IST

US oil output hampering market rebalancing: OPEC

Increased oil production in the United States is hampering efforts to balance out market supply and demand, OPEC said on Tuesday.

Jun 13, 2017, 16:50 PM IST

OPEC to extend output cuts, to set up OPEC-India Working Group

Even as the OPEC and non-OPEC producers agreed to extend until March 2018 their ongoing oil output cuts, India has reached an understanding with the global oil cartel to establish a joint working group to serve as a forum for "producer-consumer dialogue" to address mutual concerns.

May 26, 2017, 16:09 PM IST