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Non-OPEC Output Cut Deal Aimed At Inventory Glut: Goldman
The cut was short of an initial target of 600,000 bpd but still the first OPEC/non-OPEC output deal since 2001 and the largest contribution by non-OPEC producers ever.
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Oil Up More Than 8% As OPEC Finalises Output Cut Deal
Oil prices soared more than 8 per cent as some of the world's largest oil producers agreed to curb oil output for the first time since 2008 in a last-ditch bid to support prices.
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OPEC Extends Oil Output Cut By Nine Months To Fight Glut
OPEC's cuts have helped push oil back above $50 a barrel this year, giving a fiscal boost to producers.
-
Oil Holds Gains On Hopes For Non-OPEC Output Cuts
Brent and U.S. benchmarks climbed on Thursday after the former secretary general of the Organization of the Petroleum Exporting Countries made comments supportive of non-member production cuts.
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Savings on Oil Will Help in Funding Social Security Schemes: Jaitley
Global oil prices slumping to six year lows and the accompanying fall in commodity prices will help India save money on its import bill that can be used to fund social security schemes as well as for infrastructure building, Finance Minister Arun Jaitley said on Friday.
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"Oil Producing Nations Cannot Hold Consumers To Ransom": Hardeep Singh Puri
India, the world's third-biggest oil importer and consumer, imports about 85 per cent of its oil needs and has been hit hard by rising oil prices
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Government Expanding List of Foreign Firms to Buy Crude: Report
In a bid to widen supply sources, the government is expanding the list of foreign firms that can sell crude oil to state-run oil companies, by including global giants like Italy's Eni.
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ONGC Reports Gas Leak From Well Being Drilled Off Mumbai Coast
Oil and Natural Gas Corp (ONGC), India's largest explorer, has marginally cut oil output from the country's biggest oil producing asset off the west coast following a gas leak from a well being drilled.
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India Warns Oil Producers On Prices: "Actions Have Consequences"
India's oil minister said higher crude prices would only serve to accelerate the transition to cleaner energy and worsen any global recession.
-
Oil Prices Rise As OPEC, Russia-Led Allies Announce Major Output Cut
Oil prices climbed Wednesday as OPEC and Russia-led allies announced a major cut in output, while a stocks rally ran out of gas.
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Oil Extends Gains As Major Producers Flag Capacity Limits
Saudi Arabia and the UAE have been seen as the only two countries in the Organization of the Petroleum Exporting Countries (OPEC) with spare capacity to make up for lost Russian supply and weak output from other member nations.
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Oil Prices Fall Over 2% As Fed Hikes Interest Rates
Brent crude futures for August settled down $2.7, or 2.2%, at $118.51 a barrel, having fallen as low as $117.75. U.S. West Texas Intermediate crude for July fell $3.62, or 3.04%, to $115.31 a barrel, after dropping to a low of $114.60.
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Oil Producers Cannot Hold Consumers To Ransom, Says India Oil Minister
Ahead of the OPEC+ meeting next week to set output policy, Puri blamed the key producers for keeping supplies lower than demand.
-
"Oil Producing Nations Cannot Hold Consumers To Ransom": Hardeep Singh Puri
India, the world's third-biggest oil importer and consumer, imports about 85 per cent of its oil needs and has been hit hard by rising oil prices
-
Oil Marketing Firm Eighty-Eight Oil Declares Force Majeure
U.S. crude marketing company Eighty-Eight Oil LLC has declared force majeure after oil producers across the Rockies and North Dakota shut production as the coronavirus eroded demand and sent prices plunging, four sources familiar with the matter said. The company declared force majeure after producers selling oil to them shut production, causing Ei...
-
Non-OPEC Output Cut Deal Aimed At Inventory Glut: Goldman
The cut was short of an initial target of 600,000 bpd but still the first OPEC/non-OPEC output deal since 2001 and the largest contribution by non-OPEC producers ever.
-
Oil Up More Than 8% As OPEC Finalises Output Cut Deal
Oil prices soared more than 8 per cent as some of the world's largest oil producers agreed to curb oil output for the first time since 2008 in a last-ditch bid to support prices.
-
OPEC Extends Oil Output Cut By Nine Months To Fight Glut
OPEC's cuts have helped push oil back above $50 a barrel this year, giving a fiscal boost to producers.
-
Oil Holds Gains On Hopes For Non-OPEC Output Cuts
Brent and U.S. benchmarks climbed on Thursday after the former secretary general of the Organization of the Petroleum Exporting Countries made comments supportive of non-member production cuts.
-
Savings on Oil Will Help in Funding Social Security Schemes: Jaitley
Global oil prices slumping to six year lows and the accompanying fall in commodity prices will help India save money on its import bill that can be used to fund social security schemes as well as for infrastructure building, Finance Minister Arun Jaitley said on Friday.
-
"Oil Producing Nations Cannot Hold Consumers To Ransom": Hardeep Singh Puri
India, the world's third-biggest oil importer and consumer, imports about 85 per cent of its oil needs and has been hit hard by rising oil prices
-
Government Expanding List of Foreign Firms to Buy Crude: Report
In a bid to widen supply sources, the government is expanding the list of foreign firms that can sell crude oil to state-run oil companies, by including global giants like Italy's Eni.
-
ONGC Reports Gas Leak From Well Being Drilled Off Mumbai Coast
Oil and Natural Gas Corp (ONGC), India's largest explorer, has marginally cut oil output from the country's biggest oil producing asset off the west coast following a gas leak from a well being drilled.
-
India Warns Oil Producers On Prices: "Actions Have Consequences"
India's oil minister said higher crude prices would only serve to accelerate the transition to cleaner energy and worsen any global recession.
-
Oil Prices Rise As OPEC, Russia-Led Allies Announce Major Output Cut
Oil prices climbed Wednesday as OPEC and Russia-led allies announced a major cut in output, while a stocks rally ran out of gas.
-
Oil Extends Gains As Major Producers Flag Capacity Limits
Saudi Arabia and the UAE have been seen as the only two countries in the Organization of the Petroleum Exporting Countries (OPEC) with spare capacity to make up for lost Russian supply and weak output from other member nations.
-
Oil Prices Fall Over 2% As Fed Hikes Interest Rates
Brent crude futures for August settled down $2.7, or 2.2%, at $118.51 a barrel, having fallen as low as $117.75. U.S. West Texas Intermediate crude for July fell $3.62, or 3.04%, to $115.31 a barrel, after dropping to a low of $114.60.
-
Oil Producers Cannot Hold Consumers To Ransom, Says India Oil Minister
Ahead of the OPEC+ meeting next week to set output policy, Puri blamed the key producers for keeping supplies lower than demand.
-
"Oil Producing Nations Cannot Hold Consumers To Ransom": Hardeep Singh Puri
India, the world's third-biggest oil importer and consumer, imports about 85 per cent of its oil needs and has been hit hard by rising oil prices
-
Oil Marketing Firm Eighty-Eight Oil Declares Force Majeure
U.S. crude marketing company Eighty-Eight Oil LLC has declared force majeure after oil producers across the Rockies and North Dakota shut production as the coronavirus eroded demand and sent prices plunging, four sources familiar with the matter said. The company declared force majeure after producers selling oil to them shut production, causing Ei...
