Search For "organization of the petroleum exporting countries"
Today there's more oil in market than takers: Union Minister Hardeep Puri
Updated : 1 year, 1 month ago IST
"India has diversified its sources of Oil supply, earlier we were importing crude oil from 27 countries now we are importing from 39 countries. If I can buy some from some source and I can buy it at a cheaper price, we are the winners," the Union Minister said in a BBC interview.
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Union Minister Hardeep Puri holds key talks with OPEC chief, eyes balanced
Updated : 1 year, 4 months ago IST
Union Minister Hardeep Singh Puri met with HE Haitham Al-Ghais, Secretary General of Organization of the Petroleum Exporting Countries (OPEC) on Moday at the ADIPEC conference in Abu Dhabi to discuss India's partnership with OPEC.
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Sharp cut in windfall tax on crude petroleum, effective today
Updated : 1 year, 7 months ago IST
The windfall tax on petroleum crude will be reduced to Rs 2,100 per metric ton from Rs 4,600 per ton, according to an official gazette notification. The new rate will be effective from Saturday, August 17, 2024.
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OPEC cuts oil demand forecast for 2024 due to weak intake from China
Updated : 1 year, 7 months ago IST
The Organization of the Petroleum Exporting Countries (OPEC) has slightly revised down global crude oil demand forecast for 2024, citing softer intake by China.
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Crude oil prices plunge by 541 points despite OPEC+ extending production c
Updated : 1 year, 9 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.
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Crude oil prices can hit USD 100 a barrel in 2024 if OPEC maintains cuts:
Updated : 1 year, 11 months ago IST
According to S&P Global Commodity Insights, Russell Hardy, the CEO of Vitol, delivered this forecast, indicating that spot crude prices could surge to USD 100/b later this year if Organization of the Petroleum Exporting Countries (OPEC+) continues its production discipline and persists i
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Russia to carry on voluntary oil export cuts by 300,000 barrels a day unti
Updated : 2 years, 4 months ago IST
Russia will continue additional voluntary oil export cuts by 300,000 barrels a day until 2023 end, reported Russian news agency TASS.
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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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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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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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Biden to release 15 million barrels from oil reserve, more possible
Updated : 3 years, 4 months ago IST
Washington [US], October 19 (ANI): President Joe Biden will announce the release of 15 million barrels of oil from the US strategic reserve on Wednesday as part of a response to recent production cuts announced by the Organization of the Petroleum Exporting Countries (OPEC+) nations.
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Biden to "reevaluate" ties with Saudi Arabia after OPEC cut oil production
Updated : 3 years, 5 months ago IST
Washington [US], October 12 (ANI): After cut in oil production quotas by the Organization of the Petroleum Exporting Countries (OPEC) and its allies, the White House said that US President Joe Biden will now work with Congress to 're-evaluate' relationship with Saudi Arabia.
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