Search For "opec"
Oil Marketing companies likely to cut petrol-diesel prices: Sources
Updated : 2 years, 9 months ago IST
Oil marketing companies (OMC) are likely to reduce prices of petrol and diesel, according to government sources.
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OPEC Plus will continue oil output cuts as prices remain unchanged
Updated : 2 years, 9 months ago IST
OPEC described the move as aiming to "achieve and sustain a stable oil market, and to provide long-term guidance for the market, and in line with the successful approach of being precautious, proactive and preemptive," in a press release, The Hill reported.
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Innovation plays critical role in reducing emissions: OPEC Secretary Gener
Updated : 2 years, 10 months ago IST
OPEC Secretary General, Haitham Al Ghais, stated that the challenge before the world must be accurately diagnosed in order to reduce greenhouse gas emissions and not the misguided narrative of replacing one energy source with another.
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Constrained milk, wheat supplies amid volatile crude market raise inflatio
Updated : 2 years, 11 months ago IST
Constrained supplies of milk and wheat, coupled with a volatile international crude oil market with OPEC+ countries deciding to cut crude oil production from May 2023 are factors that may, going forward, influence the inflation trajectory in India, Ministry of Finance's Monthly Economic R
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Saudi Arabia's plan to cut oil production will be risky for global economy
Updated : 2 years, 11 months ago IST
On Saudi Arabia's announcement of cutting oil production, Fatih Biral, Executive Director of, the International Energy Agency said, "Saudi Arabia, Russia and others- the OPEC plus producers decided to cut the oil production. And when we look at the International Energy Agency's analysis and
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Oil prices surge after OPEC+ announce to cut output
Updated : 2 years, 11 months ago IST
By 1:12 am (Local Time), Brent was trading at USD 85.41 per barrel (6.46 per cent). The price of futures contracts of WTI crude oil for May 2023 delivery went up by 6.21 per cent, to USD 80.37 per barrel.
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UAE to voluntarily cut oil output by 144,000 bpd from May through year-end
Updated : 2 years, 11 months 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.
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OPEC Plus announces oil output cuts of around 1.16 mbpd
Updated : 2 years, 11 months ago IST
Riyadh, Saudi Arabia's capital and main financial hub said it would cut output by 500,000 barrels per day, or BDP, from May until the end of 2023, state media reported.
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"They don't follow what western or eastern countries want": Saudi analyst
Updated : 3 years ago IST
"One of the things I would love to mention is the thing that I admire the most with regards to the new face of the external affairs policies of India,. It is the fact that they don't follow what the western or eastern countries want and that's something that has been encouraged definitely
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Relationship with India is solid, says OPEC Secretary General
Updated : 3 years, 1 month ago IST
In an exclusive interaction with ANI, OPEC Secretary General Haitham Al Ghais said that reduced oil import by India with OPEC countries doesn't affect the relationship between OPEC+ countries and India.
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Putin holds telephonic conversation with Saudis ahead of OPEC+ committee m
Updated : 3 years, 1 month ago IST
Russian President Vladimir Putin on Monday had a telephone conversation with the Crown Prince of Saudi Arabia Mohammed bin Salman Al Saud.
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Nearly USD 30 billion deals on cards as Xi Jinping heads to Saudi Arabia:
Updated : 3 years, 3 months ago IST
Xi and Saudi Arabian King are scheduled to hold a Saudi-Chinese summit that will also be attended by Crown Prince Mohammed bin Salman, Xinhua news agency reported.
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