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Latest Articles in opec

US Senate Committee To Consider Bill Pressuring OPEC Oil Group

Saudi Arabia and other OPEC producers have rebuffed requests by the United States and other consuming countries to boost oil production beyond gradual amounts, even as oil consumption recovers from the COVID-19 pandemic and Russian supply falls after its invasion of Ukraine

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OPEC's India Oil Imports' Share Remains Flat, Arrests 6-Year Decline

Russian oil continued to account for less than 1 per cent of India's crude imports in 2021-22

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Russia Oil Supply Drop To Double In May: IEA

Still, lower demand amid a COVID-19 surge in China, output increases from OPEC+ producers and beyond along with the largest ever draw on emergency oil storage by the United States and its IEA member allies ought to prevent any sharp deficit, it said

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Surging Crude Oil Prices Takes Equity Benchmarks Into Red Zone

The 30-share pack Sensex declined 571.44 points or 0.99 per cent to close at 57,292.49. Its broader peer NSE Nifty slumped 169.45 points or 0.98 per cent to 17,117.60

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Oil Hits Seven-Year Highs Amid Frigid US Weather And Geopolitical Tensions Among Major Oil Producers

Crude prices, which have already rallied about 20 per cent so far this year, are likely to surpass $100 per barrel due to strong global demand, market strategists said this week

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Oil Prices At Seven Year High; What Explains The Surge?

An outage on a pipeline from Iraq to Turkey have increased concerns about an already tight supply outlook amid worrisome geopolitical troubles in Russia and the United Arab Emirates

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OPEC And Allies Gradually Pump More Oil Amid Omicron Spike

Oil prices plunged, and stocks slid in late November after the first reports about the ultra-contagious omicron variant. But prices have since recovered and markets calmed down.

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OPEC+ To Go Ahead With Oil Output Rise, As US Pressure Trumps Virus Scare

Surging infections have prompted renewed restrictions in Europe and the Omicron variant has already led to new clamp downs on some international travel.

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India Deliberating Group of PSU, Private Refiners To Seek Better Oil Import Deals

Initially the group of refiners will meet once in a fortnight and exchange ideas on crude purchases.

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'High Oil Prices To Hurt World Economic Recovery'

Oil Minister Hardeep Singh Puri has in recent weeks flagged the issue of high oil prices to Saudi Arabia, the UAE, Kuwait, Qatar, the US, Russia and Bahrain.

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OPEC Trims Oil Demand Forecast Due To Delta Variant

"The increased risk of COVID-19 cases primarily fueled by the Delta variant is clouding oil demand prospects going into the final quarter of the year," OPEC said in a report.

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India Takes Up High Oil Prices With OPEC, Producers

India imports 85 per cent of its oil needs and rates benchmarked to international prices have fuelled inflation.

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Puri Conveys India's Concerns Over High Oil Prices To Saudi, UAE

India is the world's third-largest consumer of crude and OPEC nations such as Saudi Arabia have traditionally been its principal oil source. But OPEC and OPEC+ ignoring its call for easing of supply curbs had led India to tap newer sources to diversify its crude oil imports.

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Petroleum Minister Hardeep Puri Dials UAE, Other Oil-Producing Nations Over Fuel Prices

The world’s third-largest importer has many times called on OPEC to price oil at reasonable levels that support growth and stop propping up prices with its output cuts.

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IOC Buys Oil From Guyana, Signs Up Term Pact For US Crude

IndianOil becomes the first Indian PSU refiner to procure Guyanese crude as part of our continuous efforts to diversify crude basket

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