Page 3 - Opec

Oil prices fell due to weak economic activity in leading importer China

Brent crude futures for March, which expire today, fell 90 cents, or about 1.1%, to $81.97 a barrel by 1530 GMT. The more actively traded April contract was down $1.17, or about 1.2%, at $81.33

Opec+ unlikely to decide oil policy on February 1, will wait several weeks

Oil prices have found support from more positive sentiment about demand this week and rising geopolitical tensions from attacks by the Iran-aligned Houthi group on Red Sea shipping

IEA will expedite 2025 oil demand forecast after Opec's early move

OPEC believes oil use will keep rising over the next two decades, while the IEA, which represents industrialised countries, predicts it will peak by 2030

IEA raises 2024 oil demand forecast again, this time by 180,000 bpd

IEA predicts that global oil consumption will rise by 1.24 million barrels per day (bpd) in 2024, compared with OPEC's 2.25 million bpd projection

Interim Budget likely to assume peak crude oil price at $85 per barrel

Brent crude prices moved up on Thursday, ending at $78.9 per barrel

Oil fell by more than 2% as Saudi price cuts counter West Asian worries

Brent crude slid 2.2%, or $1.74, to $77.02 a barrel by 1024 GMT while U.S. West Texas Intermediate crude futures shed 2.3%, or $1.73, to $72.08

Import more crude grades to cut basket price: Parliamentary panel

India currently imports about 50 grades of crude oil in a year

Sheikh Meshal: Everything you need to know about oil-rich Kuwait's new Emir

At the age of 83, Sheikh Meshal ascends to Emir of the state of Kuwait, one of the top ten largest oil-producing nations in the world

Russia to deepen oil export cuts in Dec by at least 50,000 barrels per day

Saudi Arabia and Russia, the world's two biggest oil exporters, called in December for all OPEC+ members to join an agreement on output cuts after a fractious meeting of the producers' club

COP28 summit: Draft climate deal stops short of fossil fuel 'phase-out'

First global stocktake on Paris Agreement recognizes current emissions reductions not enough

Street remains optimistic about further gains in oil-marketing companies

The Organization of the Petroleum Exporting Countries (Opec) and Opec+ agreed to a further voluntary production cut in January-March 2024 to try and support global crude prices

Observers see Opec 'panicking' as COP28 focuses on fossil fuel phase-out

The oil industry is starting to sweat as United Nations climate talks heat up and threaten to plug fossil fuel-belching wells for good, veteran negotiation observers say. A reported letter from OPEC's leader pleading with the oil cartel's member countries to block any language in an agreement at climate talks that would phase out or phase down fossil fuels hit negotiations like a thunderclap. Host and fellow petrostate United Arab Emirates is trying to tamp down its reverberations in a process where one or two key nations can block everything. Environmental activists, still smarting from 30 years of soft power from oil interests keeping such discussions from seeing the light of day, smirked at signs that the mighty cartel was circling the wagons. I think they're panicking, said E3G analyst Alden Meyer. Maybe the Saudis can't do on their own what they've been doing for 30 years and block the process. Former Ireland President Mary Robinson said, They're scared. I think they're ...

Oil drops 2% as markets mull OPEC+ cuts' efficacy, macroeconomic slowdowns

Brent crude futures fell $1.59, or 2.06%, to $75.61 a barrel by 1454 GMT. US WTI crude futures fell by $1.67, or 2.31%, to $70.65 a barrel

India resumes imports of Venezuelan crude oil, Reliance seeks direct deal

Three Indian refiners have bought some 4 million barrels of Venezuelan crude for February delivery at between $7.50 and $8 per barrel below dated Brent on a delivered ex-ship basis, trade sources said

India unlikely to be hit by potential Opec+ production cut, say officials

Lower global demand and discounts on Russian crude to ensure continuous oil flows

Crude oil prices rise on weak dollar, expectations for OPEC+ output cuts

Brent crude futures were up 11 cents, or 0.1%, at $80.09 a barrel at 0510 GMT. U.S. West Texas Intermediate (WTI) crude futures were trading 4 cents higher, also 0.1%, at $74.90 a barrel

OPEC defends 'vilified' oil-and-gas industry on eve of climate meeting

The Organization of Petroleum Exporting Countries said that the IEA has "unjustly vilified" the industry over its role in the climate crisis

Opec head Haitham Al Ghais accuses IEA of vilifying fossil fuel industry

"This presents an extremely narrow framing of challenges before us, and perhaps expediently plays down such issues as energy security, energy access and energy affordability," Al Ghais said

Crude oil holds a decline as Opec+ dispute clouds production outlook

Saudi Arabia, the de facto leader of Opec, and its allies are embroiled in a dispute over output quotas for African members

Opec+ ambitions for India oil market clash with clean energy goals

India's dependence on imported oil has only grown in the past decade to over 85 per cent of its needs