Opec News
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UAE Quits OPEC: What It Means For India's Oil Prices, Fuel Bills
Being able to deal with the UAE as a separate seller should give Indian refineries the chance to re-adjust risk levels and pricing, particularly if some volume of crude is routed via overland pipelines to bypass the Hormuz blockade.
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UAE Exit Blindsides OPEC And Threatens To Shake Its Grip On Oil
For OPEC and its partners, the departure will dilute their ability to manage oil prices by adjusting supply, while positioning the UAE as a wild card player at a time of unprecedented upheaval in the global market.
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The Saudi-Pakistan Factor Behind UAE's Exit From OPEC
The UAE has also been frustrated with Pakistan, partly because of its deepening ties with Saudi Arabia, but also because of what it considers Islamabad's meek role as a mediator between the US and Iran.
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UAE To Quit Oil Exporting Groups OPEC, OPEC+ Amid Iran War
UAE To Quit Oil Exporting Groups OPEC, OPEC+ Amid Iran War
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OPEC+ Makes Symbolic Oil Hike, Sees Long Supply Hit From Iran War
Key producers led by Saudi Arabia and Russia agreed to increase targets for May by about 206,000 barrels a day during a video conference.
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IEA, OPEC To Share Insights On Oil Market During India Energy Week
International Energy Agency (IEA) is set to share insights on the India's oil and gas sector during the 3rd edition of India Energy Week (IEW) next week here in the national capital.
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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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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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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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G7 Calls On OPEC To Play Key Role To Ease Global Energy Supplies
Ministers from the G7 group stressed that they would not let the energy crisis derail efforts to fight climate change.
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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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UAE Quits OPEC: What It Means For India's Oil Prices, Fuel Bills
Being able to deal with the UAE as a separate seller should give Indian refineries the chance to re-adjust risk levels and pricing, particularly if some volume of crude is routed via overland pipelines to bypass the Hormuz blockade.
-
UAE Exit Blindsides OPEC And Threatens To Shake Its Grip On Oil
For OPEC and its partners, the departure will dilute their ability to manage oil prices by adjusting supply, while positioning the UAE as a wild card player at a time of unprecedented upheaval in the global market.
-
The Saudi-Pakistan Factor Behind UAE's Exit From OPEC
The UAE has also been frustrated with Pakistan, partly because of its deepening ties with Saudi Arabia, but also because of what it considers Islamabad's meek role as a mediator between the US and Iran.
-
UAE To Quit Oil Exporting Groups OPEC, OPEC+ Amid Iran War
UAE To Quit Oil Exporting Groups OPEC, OPEC+ Amid Iran War
-
OPEC+ Makes Symbolic Oil Hike, Sees Long Supply Hit From Iran War
Key producers led by Saudi Arabia and Russia agreed to increase targets for May by about 206,000 barrels a day during a video conference.
-
IEA, OPEC To Share Insights On Oil Market During India Energy Week
International Energy Agency (IEA) is set to share insights on the India's oil and gas sector during the 3rd edition of India Energy Week (IEW) next week here in the national capital.
-
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.
-
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.
-
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.
-
G7 Calls On OPEC To Play Key Role To Ease Global Energy Supplies
Ministers from the G7 group stressed that they would not let the energy crisis derail efforts to fight climate change.
-
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
