Opec

Jet Fuel Price Increased Over 16% In Second Hike Within A Fortnight

Business | Edited by Abhik Deb (with inputs from agencies) | Tuesday June 16, 2020

In Delhi, the price of ATF was increased by Rs 5,494.5 per kilolitre - or 16.3 per cent - to Rs 39,069.87 per kilolitre.

Crude Oil Slumps Further Amid Prospect Of Resurgence Of Coronavirus

Business | Reuters | Monday June 15, 2020

New infections in China, Japan and the United States have increased concerns of a resurgence of the virus

OPEC, Russia Extend Record Oil Cuts To End Of July

Business | Reuters | Sunday June 7, 2020

Benchmark Brent crude climbed to a three-month high on Friday above $42 a barrel, after diving below $20 in April

Saudi Arabia Says It Will Cut June Oil Output By An Extra 1 Million Barrels A Day

Business | Reuters | Monday May 11, 2020

Global oil demand has slumped by about 30 percent as the coronavirus pandemic has curtailed movement across the world

When Oil Became Waste: A Week Of Turmoil For Crude And More Pain To Come

Business | Reuters | Sunday April 26, 2020

In Russia, one of the world's top producers, the industry is considering resorting to burning its oil to take it off the market

Oil Rises For Second Day As Producers Trim Output To Cope With Demand Loss

Business | Reuters | Thursday April 23, 2020

Oil extended gains on Thursday amid signs that producers are cutting production to cope with a collapse in demand for fuel.

Brent Oil Jumps Nearly 3% After Trump Outlines Three-Stage Plan To Ease Coronavirus Restrictions

Business | Reuters | Friday April 17, 2020

Trump laid out a three-stage process for ending lockdowns to stop the spread of the coronavirus that has now killed more than 32,000 Americans

OPEC Says Oil Market Undergoing 'Historic Shock'

Business | Edited by Abhik Deb (with inputs from agencies) | Thursday April 16, 2020

Meanwhile, oil prices rose on Thursday, with US crude rebounding from near-20-year lows in the previous session

Crude Prices To Continue To Fall In Coming Weeks, Historic Deal Insufficient: Goldman Sachs

Business | Reuters | Monday April 13, 2020

The Organization of the Petroleum Exporting Countries (OPEC) and its allies, a grouping known as OPEC+, said they had agreed to reduce output by 9.7 million barrels per day (bpd) for May and June to stem a slump in prices.

OPEC, Russia Approve Record Oil Supply Cut Amid Coronavirus Pandemic

Business | Reuters | Monday April 13, 2020

Measures to slow the spread of the coronavirus have destroyed demand for fuel and driven down oil prices, straining budgets of oil producers and hammering the US shale industry.

Top Oil Producers Agree On "Historic" Output Cuts Amid Coronavirus Crisis

World News | Agence France-Presse | Monday April 13, 2020

Top oil-producing countries agreed on "historic" output cuts to prop up prices hammered by the coronavirus crisis and a Russia-Saudi price war, sending crude prices soaring on Monday.

Saudi Arabia, Russia Outline Record Supply Cut As Demand Crashes On COVID-19

Business | Reuters | Friday April 10, 2020

Officials from the Organization of the Petroleum Exporting Countries and Russia have said the scale of the crisis required involvement of all producers.

Saudis, Russians "Close To Deal", Says Donald Trump As Oil Prices Plummet

World News | Agence France-Presse | Friday April 10, 2020

US President Donald Trump said Thursday that Russia and Saudi Arabia are "close" to agreeing on production cuts to prop up oil prices.

Oil Prices Jump On Hopes For OPEC, Russia Meeting On Output Cuts

Business | Reuters | Wednesday April 8, 2020

Oil was lifted by hopes that a meeting between OPEC members and allied producers on Thursday will trigger output cuts to shore up prices

Crude Oil Price Drops Nearly 4% As Delayed Producer Meet Causes Oversupply

Business | Reuters | Monday April 6, 2020

The world's top producers delayed a meeting to discuss output cuts that could partly alleviate oversupply in global markets