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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.

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Shares, 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%.

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Saudi 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.

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Oil 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.

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OPEC 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

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Oil 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.

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OPEC+ 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.

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Oil 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.

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Oil 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.

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Petroleum 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

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Oil 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.

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What 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.

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OPEC 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.

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OPEC+ 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.

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Why 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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