Search For "oil production cut"
Crude oil prices plunge by 541 points despite OPEC+ extending production c
Updated : 1 year, 11 months ago IST
The Organization of the Petroleum Exporting Countries and its allies, collectively known as OPEC+, revealed that they would continue to enforce substantial oil production cuts totalling 5.86 million bpd.
Read More
OPEC+ extends major oil production cuts until 2025 to stabilise market
Updated : 1 year, 11 months ago IST
Faced with slow demand growth, high interest rates, and the rise in U.S. oil production, the group aims to support oil prices by managing supply tightly.
Read More
UAE to voluntarily cut oil output by 144,000 bpd from May through year-end
Updated : 3 years, 1 month ago IST
"This voluntary initiative is a precautionary measure taken to ensure market balance and comes in alignment with the production cut agreed upon during the 33rd OPEC and non-OPEC Ministerial Meeting (ONOMM), held on 5th October 2022," the minister said in a statement.
Read More
Biden announces release of 15 million barrels of oil from strategic reserv
Updated : 3 years, 7 months ago IST
Washington [US], October 20 (ANI): US President Joe Biden has announced the release of 15 million barrels of oil from the United States strategic reserve, part of a response to recent production cuts announced by OPEC+ nations.
Read More
Indian economy is resilient, not going to be impacted by OPEC+ oil output
Updated : 3 years, 7 months ago IST
New Delhi [India], October 6 (ANI): After OPEC+ agreed to steep oil production cuts on Wednesday, curbing supply in an already tight market, Indian economist Dr Charan Singh called India 'fortunate' enough as the country is not going to be badly impacted by these policies as it is not on
Read More
India calls for ease of crude oil production cuts
Updated : 5 years, 1 month ago IST
New Delhi [India], April 2 (ANI): Calling for the market-determined price of crude oil, the Ministry of External Affairs (MEA) on Friday said India has been appealing oil-producing countries to ease production cuts that were announced last year.
Read More
Situation on global oil market undoubtedly improved in recent months: Saud
Updated : 5 years, 2 months ago IST
Moscow [Russia], March 4 (ANI/Sputnik): The situation on the global oil market has undoubtedly improved in the last two months, while OPEC+ states have shown a high level of compliance with the oil production cuts, Saudi Arabia's Energy Minister Prince Abdulaziz bin Salman said on Thursday.
Read More
Moscow, Riyadh discuss G20 talks, OPEC+ deal implementation, COVID-19 vacc
Updated : 5 years, 8 months ago IST
Moscow [Russia], September 7 (ANI/Sputnik): Russian President Vladimir Putin and Saudi King Salman bin Abdulaziz Al Saud held a phone conversation about preparations for the G20 summit, the implementation of the OPEC+ oil production cuts deal, and the joint production of the Russian vaccine
Read More
We welcome any news that brings stability to global oil markets: Canada's
Updated : 6 years, 1 month ago IST
Ottawa [Canada], April 13 (Sputnik/ANI): Canada's Natural Resources Minister Seamus O'Regan says Canada welcomes the new OPEC+ oil production cut deal and hopes that it will stabilize the markets.
Read More
Equities edge lower amid rising number of COVID-19 cases
Updated : 6 years, 1 month ago IST
Mumbai (Maharashtra) [India], April 3 (ANI): Equity benchmark indices traded lower during early hours on Friday with investors remaining focused on the possible impact of rising coronavirus infections.
Read More