Opec Deal

Opec again cuts growth forecast of global oil demand in 2024, 2025

The weaker outlook further underscores the challenge faced by Opec+, which comprises the Organization of the Petroleum Exporting Countries and allies such as Russia in balancing the market

OPEC meeting to shape India's Russian oil purchases as May levels stay high

Bloc members led by Saudi Arabia and Russia are holding a ministerial meeting on June 2 to decide the fate of global oil production

Oil prices up on prospect of Opec+ holding cuts, weaker US dollar

For the online meeting of OPEC+ oil producers coming up on Sunday, traders and analysts are predicting 2.2 million barrels per day of voluntary production cuts to stay in place

US approves Exxon-Pioneer deal, alleges shale founder colluded with Opec

Former Pioneer CEO Scott Sheffield coordinated efforts with U.S. shale oil producers to constrain their output and raise energy prices, the Federal Trade Commission said

Opec+ ministers agree on keeping oil output policy steady: Reports

OPEC+ members, led by Saudi Arabia and Russia, last month agreed to extend voluntary output cuts of 2.2 million barrels per day (bpd) until the end of June to support the market

Opec raises long-term oil demand view, calls for $12.1 trillion investment

"Oil is expected to remain the number one fuel in the global primary energy mix," the report said

OPEC+ likely to stick to existing deal and raise June output by 432,000 bpd

Under a deal reached in July last year, the group is set to increase output targets by 432,000 bpd every month until the end of September, to unwind its remaining production cuts

Sensex slumps 765pts, Nifty ends below 17,200; Reliance, FMCG, banks weigh

The broader indices, however, outperformed the key benchmark indices. The BSE Midcap index ended flat, while Smallcap index was up 0.3 per cent

Sensex gallops 776 pts, Nifty ends above 17,400; HDFC, IT shares lead

The Midcap and Smallcap indices also surged over a per cent each, and advancing shares outnumbered declining stocks in 2:1 ratio the BSE on Thursday

Oil steadies after rout on rising Covid-19 cases, OPEC+ supply deal

Oil prices stabilised on Tuesday after slumping around 7% in the previous session amid a broader market retreat led by concerns about a resurgence of Covid-19 infections

Iraq seeks exemption from OPEC deal curbing oil production in Q1 2021

Abdul Jabbar said last month that Iraq would cut its oil production by an additional 400,000 bpd in August and September to compensate for its overproduction in the three previous months

Saudi Aramco to go ahead with plans to boost oil output capacity, says CEO

The oil company will boost outpur capacity by 1 million barrels per day (bpd) to 13 million bpd despite spending cuts this year and next year

Oil slides below $41 a barrel as US inventory rise revives glut worries

Crude stocks rose by 5.7 million barrels in the week to June 5 to 538.1 million barrels, according to a report from the USEnergy Information Administration.

OPEC+ deal 'historic yet insufficient', oil prices to fall: Goldman Sachs

OPEC+ had agreed to reduce output by 9.7 million barrels per day (bpd) for May and June to stem a slump in prices

OMCs, aviation, paint stocks drop as crude oil prices rise post OPEC+ deal

The group, known as OPEC+, said it had agreed to reduce output by 9.7 million barrels per day (bpd) for May and June.

Amid falling global prices, US and Mexico agree to cut crude oil output

The OPEC nations have agreed to "a different limit reduction of about 23 per cent", said US President Donald Trump

Saudi Aramco puts off oil pricing after failure of Opec alliance in Vienna

Biggest oil exporter usually gives pricing on 5th of each month

Opec close to reaching a deal on extending production cuts: UAE minister

OPEC and producer allies including Russia last year agreed to cut their output beginning on January 1 to avoid a supply glut

Opec-plus-oil deal wobbles as Saudi exceeds output cut goals, Russia lags

Saudi Arabia's planned output cut will leave production in March at its lowest in more than four years, while Russia's remains near its record high

Don't blame us, we're doing our part: Opec's response to Trump's criticism

Trump has accused Opec of driving gasoline prices higher and urged the group to do more