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Latest Articles in Energy Infra

OPEC+ Likely To Agree To Cut Production If U.S. Joins Effort

Worldwide oil demand has dropped by roughly 30%, or about 30 million barrels a day, at the same time that Saudi Arabia and Russia have been flooding markets with extra supply.

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ONGC Sells June-Loading Russian Sokol Crude At Record Discount

Demand for crude grades like Sokol, which yields more middle distillates such as jet fuel and gas oil after refining, has weakened sharply.

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Oil Slips On Oversupply Fears, But Stocks Jump On Virus Slowdown Hopes

Brent crude futures was down nearly 3%, or $1, at $31.14 a barrel while U.S. crude slipped 4.4%, or $1.24, to $27.09.

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Trump Open To Big Oil Tariffs, But Doesn't Expect To Need Them

Oil prices have dropped by about two-thirds this year as the COVID-19 pandemic caused by the new coronavirus has hammered demand and as major producers Russia and Saudi Arabia boost output in a war over market share.

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Saudi Arabia Delays Setting May Prices, Looks To OPEC Meeting To Settle Price War

Asia trading, prices fell to $32 a barrel, while U.S. West Texas Intermediate (WTI) crude CLc1 fell to $26.15 a barrel on Sunday from a $28.34 close on Friday.

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OPEC+ Debates Biggest-Ever Oil Cut, Awaits U.S. Efforts

The oil market has crashed, with prices falling to $34 a barrel from $65 at the beginning of the year, as a result of the coronavirus pandemic.

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Oil Analysts Sceptical About Saudi-Russian 'Deal'

"The challenge in cutting is that Saudi Arabia refuses to carry the cut burden alone; it expects OPEC and its allies (OPEC+) to help, as well as other countries like the U.S. and Canada."

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Oil Crash Poses Severe Test For OPEC+ After Moscow, Riyadh Miscalculate

Oil demand has dropped by as much as 30 million barrels per day (bpd), roughly equivalent to the combined output of Saudi Arabia, Russia and the United States.

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Oil Jumps As Trump Talks Up Truce Hopes For Saudi-Russia Price War

U.S. crude stockpiles rose 13.8 million barrels in their biggest weekly increase since 2016 and analysts expected stocks to keep rising as refineries curb output and gasoline demand falls.

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Dipping Domestic Gas And Crude Oil Prices A Double Whammy For Upstream Producers: ICRA

As per an ICRA note, the decline in domestic gas price is in line with the fall in global gas indices over the reference period.

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Saudi Oil Supply Hits Record High Despite US Pressure

Crude oil benchmarks ended a volatile first quarter with their biggest losses in history. On Wednesday, oil slid towards $25 a barrel, after touching its lowest level in 18 years.

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BEL Turnover Up 6% At Rs 12,500 Crore In FY20

Chairman and Managing Director M V Gowtama said the global lockdown due to COVID-19 and the economic slowdown had some impact on the company's financials last month.

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BP Cuts Spending By Quarter, Lowers US Shale Output

BPX output will drop by around 70,000 barrels of oil equivalent per day (boepd) in 2020, around 14% lower than its 2019 output of 499,000 boepd.

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Oil Majors Slash 2020 Spending By 20% After Prices Slump

BP cut its 2020 spending plan by 25% and will reduce output from its U.S. shale oil and gas business, it said on Wednesday.

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Oil Bound For Sharper Declines, Industry Experts Tell Goldman Sachs

Oil prices are now in the $20s, having slumped in March after a deal on supply curbs between the Organization of the Petroleum Exporting Countries, Russia and other producers, known as OPEC+, fell apart.

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