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Brent Crude Oil Price Falls Below $80 For First Time Since February
Brent crude oil prices fell to below $80 a barrel on Monday for the first time since February, after an OPEC+ meeting in which members agreed that countries could starting phasing out voluntary output cuts starting in October.
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"India To Keep Diversifying Oil Supply": Minister Amid Red Sea Attacks
Supply cuts by OPEC , costly shipments from some traditional Middle East suppliers and geopolitical tension is driving India, the world's third biggest oil importer, to diversify its crude sources and accelerate its energy transition
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Explained: Why Is OPEC Cutting Crude Oil Output
The Organization of the Petroleum Exporting Countries and allies including Russia, a group known as OPEC+ which pumps around 40% of the world's crude, agreed on a new oil output deal on Sunday.
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Nirmala Sitharaman Speaks On Adani Row, Jobs, Oil And Crypto
Finance Minister Nirmala Sitharaman said India could buy Russian crude oil near or past the price cap imposed by the G-7 if the recent OPEC+ output cut increases energy costs.
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Russia To Slash Crude Oil Output By 5% Over West's Price Cap
Russia will slash its crude oil output by five percent next month, Deputy Prime Minister Alexander Novak announced Friday, in response to a price cap imposed by Western countries.
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Why Saudi Arabia Rebuffed Biden's Pleas for More Oil
The US has accused Saudi Arabia of siding with Russia after it led OPEC+ in a shock decision to slash crude output, keeping oil prices high at a time of global concern about inflation.
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Russia Undercuts Saudi Oil In India As Competition Heats Up
A fierce battle is brewing in India where Russia has undercut the price of oil from its OPEC+ ally Saudi Arabia, paving the way for Moscow to expand market share in one of the biggest crude importers.
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Oil Falls 3% On Uncertainty Over Future OPEC+Output, Recession Fears
The OPEC+ group of producers, including Russia, on Thursday agreed to stick to its output strategy after two days of meetings. The producer club avoided discussing policy from September onwards.
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Putin Discusses Oil Market With Saudi Crown Prince Who Hosted Biden Last Week
Russian President Vladimir Putin and Saudi Crown Prince Mohammed bin Salman spoke by phone on Thursday and underlined the importance of further cooperation within the OPEC+ group of oil producers.
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U.S. Not Expecting Saudi Arabia To Immediately Boost Oil Output
The United States does not expect Saudi Arabia to immediately boost oil output and awaits the outcome of an OPEC+ meeting on Aug. 3.
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Oil Rises 2% As No Immediate Saudi Output Boost Expected
Oil gained 2.5% after a U.S. official told Reuters that an immediate Saudi oil output boost was not expected, and as investors question whether OPEC has the room to significantly ramp up crude production.
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Oil Settles Up Despite OPEC+ Output Hike Plan; Supply Still Tight
OPEC+ agreed to boost output by 648,000 barrels per day (bpd) a month in July and August
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Oil Falls 2% On Powell Comments, Hopes For Venezuela Supply
Russia's production dropped by 9% in April, and the country, part of the OPEC+ group, produced far below levels required under a deal to gradually ease record output cuts made during the worst of the pandemic in 2020.
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Oil Settles Shy Of $120 A Barrel On OPEC+ Deal, Saudi Pricing
Saudi Arabia raised the July official selling price (OSP) for its flagship Arab light crude to Asia by $2.10 from June to a $6.50 premium over Oman/Dubai quotes, just off an all-time peak recorded in May
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Oil Rises 1 Per Cent As U.S. Crude Drawdown Overshadows OPEC+ Boost
Oil prices fell earlier on Thursday as Saudi Arabia and other OPEC+ states agreed to bring forward oil production rises to offset Russian output losses to ease surging oil prices and inflation and smooth the way for an ice-breaking visit to Riyadh by U.S. President Joe Biden.
-
Brent Crude Oil Price Falls Below $80 For First Time Since February
Brent crude oil prices fell to below $80 a barrel on Monday for the first time since February, after an OPEC+ meeting in which members agreed that countries could starting phasing out voluntary output cuts starting in October.
-
"India To Keep Diversifying Oil Supply": Minister Amid Red Sea Attacks
Supply cuts by OPEC , costly shipments from some traditional Middle East suppliers and geopolitical tension is driving India, the world's third biggest oil importer, to diversify its crude sources and accelerate its energy transition
-
Explained: Why Is OPEC Cutting Crude Oil Output
The Organization of the Petroleum Exporting Countries and allies including Russia, a group known as OPEC+ which pumps around 40% of the world's crude, agreed on a new oil output deal on Sunday.
-
Nirmala Sitharaman Speaks On Adani Row, Jobs, Oil And Crypto
Finance Minister Nirmala Sitharaman said India could buy Russian crude oil near or past the price cap imposed by the G-7 if the recent OPEC+ output cut increases energy costs.
-
Russia To Slash Crude Oil Output By 5% Over West's Price Cap
Russia will slash its crude oil output by five percent next month, Deputy Prime Minister Alexander Novak announced Friday, in response to a price cap imposed by Western countries.
-
Why Saudi Arabia Rebuffed Biden's Pleas for More Oil
The US has accused Saudi Arabia of siding with Russia after it led OPEC+ in a shock decision to slash crude output, keeping oil prices high at a time of global concern about inflation.
-
Russia Undercuts Saudi Oil In India As Competition Heats Up
A fierce battle is brewing in India where Russia has undercut the price of oil from its OPEC+ ally Saudi Arabia, paving the way for Moscow to expand market share in one of the biggest crude importers.
-
Oil Falls 3% On Uncertainty Over Future OPEC+Output, Recession Fears
The OPEC+ group of producers, including Russia, on Thursday agreed to stick to its output strategy after two days of meetings. The producer club avoided discussing policy from September onwards.
-
Putin Discusses Oil Market With Saudi Crown Prince Who Hosted Biden Last Week
Russian President Vladimir Putin and Saudi Crown Prince Mohammed bin Salman spoke by phone on Thursday and underlined the importance of further cooperation within the OPEC+ group of oil producers.
-
U.S. Not Expecting Saudi Arabia To Immediately Boost Oil Output
The United States does not expect Saudi Arabia to immediately boost oil output and awaits the outcome of an OPEC+ meeting on Aug. 3.
-
Oil Rises 2% As No Immediate Saudi Output Boost Expected
Oil gained 2.5% after a U.S. official told Reuters that an immediate Saudi oil output boost was not expected, and as investors question whether OPEC has the room to significantly ramp up crude production.
-
Oil Settles Up Despite OPEC+ Output Hike Plan; Supply Still Tight
OPEC+ agreed to boost output by 648,000 barrels per day (bpd) a month in July and August
-
Oil Falls 2% On Powell Comments, Hopes For Venezuela Supply
Russia's production dropped by 9% in April, and the country, part of the OPEC+ group, produced far below levels required under a deal to gradually ease record output cuts made during the worst of the pandemic in 2020.
-
Oil Settles Shy Of $120 A Barrel On OPEC+ Deal, Saudi Pricing
Saudi Arabia raised the July official selling price (OSP) for its flagship Arab light crude to Asia by $2.10 from June to a $6.50 premium over Oman/Dubai quotes, just off an all-time peak recorded in May
-
Oil Rises 1 Per Cent As U.S. Crude Drawdown Overshadows OPEC+ Boost
Oil prices fell earlier on Thursday as Saudi Arabia and other OPEC+ states agreed to bring forward oil production rises to offset Russian output losses to ease surging oil prices and inflation and smooth the way for an ice-breaking visit to Riyadh by U.S. President Joe Biden.
