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Latest Articles in opec
India To Buy One-Third Less Oil From Saudi Arabia
Crude oil imports from OPEC countries decreased to 74.4 per cent of total imports during April 2020 to February 2021 as compared to 79.6 per cent in the same period of the previous year.
Read MoreShares, Dollar Cheer US Stimulus, Bonds Downcast
The prospect of yet faster growth helped MSCI's broadest index of Asia-Pacific shares outside Japan firm 0.5%. Japan's Nikkei gained 0.9%, and Chinese blue chips 0.7%.
Read MoreSaudi Asks India To Use Cheap Oil It Bought Last Year To Cool Prices
India's Oil Minister Dharmendra Pradhan had in the run-up to Thursday's OPEC meeting urged the producers' group to ease production curbs to fulfil their promise of stable oil prices.
Read MoreOil Surges After OPEC+ Holds Cuts, Strong US Jobs Growth
Brent futures rose $2.62, or 3.9%, to settle at $69.36 a barrel. The session high for the global benchmark was its highest since January 2020.
Read MoreOPEC Ignores India's Call; Saudi Asks New Delhi To Use Cheap Oil It Bought Last Yr
Petrol and diesel prices have remained unchanged for the last five years and oil companies have in past not revised prices in the run to crucial assembly elections in 2017 and 2018 ahead of elections in states like Uttar Pradesh and Gujara
Read MoreOil Gains As US Fuel Stocks Drop, OPEC+ Considers Deal Rollover
Brent crude rose $1.37, or 2.2%, to settle at $64.07 a barrel. U.S. West Texas Intermediate (WTI) crude rose $1.53, or 2.6%, to settle at $61.28 a barrel.
Read MoreOPEC+ Considers Oil Output Roll Over For April, Sources Say
OPEC expects global oil demand in 2021 to grow by 5.8 million bpd to about 96 million bpd. That compares with about 100 million bpd in 2019, before demand plummeted in 2020 due to the pandemic.
Read MoreOil Falls To Two-Week Lows As OPEC+ Seen Easing Supply Curbs
Brent futures fell 99 cents, or 1.6%, to settle at $62.70 a barrel, their lowest close since Feb. 12. The global benchmark has fallen about 7% from a 13-month peak hit last week.
Read MoreOil Prices Climb After Progress On Huge US Stimulus Bill
Brent crude futures for May rose $1.07, or 1.7%, to $65.49 per barrel by 0042 GMT. The April contract expired on Friday.
Read MorePetroleum Minister appeals to oil-producing countries to ease production cuts to stabilise global economic recovery
Petroleum Minister appeals to oil-producing countries to ease production cuts to stabilise global economic recovery
Read MoreOil Gains On Continued OPEC+ Cuts And US Stocks Draw
Brent crude futures gained 25 cents, or 0.43%, to $58.71 a barrel by 1025 GMT, having earlier hit their highest since Feb. 21 last year.
Read MoreWhat Is The Saudi-Russia-America Oil War? How Does It Affect India?
Russia refused to comply, and took the opposite route of increasing their production. One may speculate why Russia did that, but experts believe it is to attacks the USA oil industry.
Read MoreOPEC Crude Output Cuts Should Help U.S. Shale Profits In 2021
US crude oil production has fallen 2 million barrels per day in the last year as low prices and demand forced output cuts.
Read MoreOPEC+ Resumes Talks After February Split On Oil Output
OPEC+ producers have been curbing output to support prices and reduce oversupply since January 2017 and cut a record 9.7 million bpd in mid-2020 as COVID-19 hammered demand for gasoline and aviation fuel.
Read MoreWhy Is The Petrol Price Rising?
The rise in price is due to increase in taxation by the centre and the state, to make up for loss of revenue during the lockdown. Excise duty by centre and VAT by state govt escalates prices.
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