Page 2 - Opec Oil

India calls Saudi Arabia's advice on tapping stored oil 'undiplomatic'

India, the world's third-biggest oil importer and consumer, has asked refiners to speed up diversification and cut reliance on Middle Eastern oil

Amid high oil prices, Saudi asks India to use cheap oil it bought last year

International oil prices rose after OPEC and its allies ignored India's plea to ease production control

Oil extends gains on prospect of OPEC+ sticking with supply cuts

The market had been expecting OPEC+ to ease production cuts by around 500,000 barrels per day (bpd) from April

Why costly diesel burns a bigger hole in your pocket than petrol

While consumers feel the petrol pinch directly, diesel hurts indirectly, as it is an input in almost all the goods and services we use

Fully committed to OPEC+ oil cuts, not seeking any exemptions, says Iraq

Earlier on Wednesday, Oil Minister Ihsan Abdul Jabbar was quoted as saying that he has spoken about the exemption to key OPEC oil ministers in three separate meetings

End game for oil? OPEC prepares for an age of dwindling demand

OPEC faces a dramatic adjustment if consumption starts a permanent decline

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.

Brent is likely to find support in June in the range of $35-40/barrel

The speed at which the oil market rebounded to $40 per barrel has certainly grabbed attention, but it needs to walk before it can run

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

OPEC+ debates biggest-ever oil cut as Covid-19 pandemic crushes demand

The oil market was dealt a heavy blow by the freefall in demand due to the coronavirus pandemic

Oil markets unbalanced despite additional OPEC cuts: International agency

The International Energy Agency said that most of that cut had already been implemented already

Opec, allies agree on 500,000-bpd additional production cut in Jan-Mar 2020

The countries involved pump over 40% of the world's oil, and their new combined cuts amount to 1.7 million bpd or 1.7% of global production

OPEC grapples with oil oversupply, negotiations over production cuts begin

The oil-producing nations will decide whether to stick with production cuts they've endured for the past three years, relax them or deepen them in the hopes of propping up prices

Oil price to rise? Millions of barrels of Iran oil piled up in China ports

The store of oil has the potential to push down global prices if Chinese refiners decide to draw on it

Russia, Saudi agree to extend oil cuts for as long as 6 to 9 months: Putin

The current deal removed 1.2 million barrels a day of OPEC+ production, helping to send oil prices higher

Bill allowing US to sue Opec for inflating oil prices clears key hurdle

The law would amend the Sherman Antitrust Act of 1890, the law used more than a century ago to break up the oil empire of John Rockefeller

Opec, allies struggle to pump more oil as US sanctions derail Iran supply

OPEC and its allies were considering the possibility of raising crude supplies by a further 500,000 bpd as US sanctions on Iran bite into Tehran's exports

Donald Trump presses Opec to reduce oil prices as Brent nears $80

Saudi Arabia has markedly increased oil exports to America, a sign Opec's leading producer is responding to pressure from Trump

India to work with China against OPEC's 'Asian Premium': Pradhan

Asian Premium is the extra charge being collected by OPEC countries from Asian countries when selling oil, and India has been voicing its dissent against this practice

Opec should go for 'responsible pricing': Oil minister Dharmendra Pradhan

Pradhan reiterated that the OPEC should work towards 'responsible pricing'