Page 6 - Oil Production

Oil falls 5% on speculation US Russia oil ban won't add to supply shock

Oil also fell as the head of the IEA described the agency's decision to release 60 million barrels of oil from strategic reserves as 'an initial response' and said that more could be released

MEIL wins order for 47 oil and gas rigs from ONGC, to commission 15 by May

'In spite of Covid-19, MEIL is committed to completing the project with its expertise, dedication and hard work'

Libya's oil company says production resumed at largest field after 3 days

The closure of the two fields caused Libya's daily oil production to drop by 330,000 barrels, the NOC said

OPEC, allies weigh oil output amid steep hikes, Russian invasion

The OPEC+ coalition of oil producers led by Saudi Arabia and non-cartel members led by Russia are weighing whether to increase oil production by 400,000 barrels per day in April

Oil prices take breather as Russia advances further on Ukraine

U.S. West Texas Intermediate (WTI) crude were down 30 cents, or 0.3%, to $92.51 a barrel, after hitting a session high of $95.64

Oil at $103: No fears of supply disruption to India, prices a concern

Brent crude rose to as much as USD 103.78 a barrel, the highest since August 14, 2014, and was at USD 103.40 at 1500 hrs, up USD 6.71, or 6.93 per cent

Russia-Ukraine tensions keep crude elevated; negative for net importers

Brent-indexed crude oil prices traded at $94-$95 per barrel, which is at its multi-year high

Oil price set to test fresh peaks barring Iran breakthrough

Hitting just under $100 a barrel on Tuesday, international crude prices are still a way off the all-time peak of more than $147 hit in July 2008

Oil prices rise as tight market looks to Russian-Western diplomacy

Brent crude futures rose 25 cents, or 0.3%, to $93.79 a barrel at 1000 GMT. U.S. West Texas Intermediate (WTI) crude futures rose 35 cents, or 0.4%, to $91.42 a barrel

Oil extends losses as heads for weekly fall on Iranian oil hopes

There is little chance of Iranian crude returning to the market in the immediate future to ease current supply tightness, analysts said

IOC raises Rs 1,500 cr via bonds at interest rate lower than sovereign

IOC priced its five-year rupee bonds at a coupon rate of 6.14 per cent tighter than a similar maturing government bond that is trading at an annualised yield of 6.29 per cent

Brent crude drops 2% to $91.14 per barrel on Iranian oil hopes

Brent crude futures fell $1.83, or 1.9%, to $91.14 a barrel by 1425 GMT, extending a 1.9% drop from the previous session

Oil prices ease after 7-year high as Ukraine hints at concessions to Russia

Brent crude was down 81 cents, or 0.9%, at $93.63 a barrel by 1259 GMT, off an ealier peak of $96.16, the highest since October 2014

ONGC seeks peak oil and natural gas output from KG block in FY24

With KG-D5 going live, oil production is estimated to rise to 24 million tonnes in 2023-24 and gas to rise to 32.16 bcm, said Anurag Sharma, director (onshore) and interim director (finance) of ONGC

Oil prices stable at $90/Bbl, Iran supply prospects add pressure

Brent crude futures edged down 36 cents, or 0.4%, to $90.42 a barrel by 1150 GMT

Statsguru: Six charts show recurring worries over rising crude oil

The share of OPEC in global oil production has been falling in recent times

Oil hits seven-year highs as rally extends to a 7th week

Brent crude rose $2.16, or 2.4%, to settle at $93.27 a barrel having earlier touched its highest since October 2014 at $93.70

Oil dips below $89 on potential for faster supply boost

While the OPEC+ has been expected to maintain its policy of gradual production increases at a meeting on Wednesday, Goldman Sachs said there was a chance of further steps

Oil posts biggest monthly gain in a year on tight supply, Ukraine tensions

The most-active Brent contract, for April delivery, traded 74 cents higher, or 0.8%, to settle at $89.26 per barrel.

Oil prices climb towards $80 per barrel on tight supply; stocks fall

Weekly data from the US Energy Information Administration is due later on Wednesday