Page 15 - Opec

OPEC+ agrees new oil deal but without UAE agreement, source says

OPEC+ agreed to add more oil to the market from August and extend the duration of their pact on their remaining production curbs for longer, even though United Arab Emirates still opposed extension

OPEC+ to resume oil policy talks on Monday after UAE roadblock

LONDON/DUBAI/MOSCOW (Reuters) -OPEC+ will resume talks on Monday after failing to reach a deal on oil output policy for a second day running on Friday because the United Arab Emirates blocked some aspects of the pact.

OPEC+ seeks oil policy consensus as United Arab Emirates demands changes

The UAE on Thursday effectively blocked a deal agreed by top producers Saudi Arabia and Russia to ease oil cuts by 2 million barrels per day (bpd) by the end of 2021

Oil prices dip after OPEC+ ministers delays meeting on supply decision

Oil prices inched lower on Friday after OPEC+ ministers delayed a meeting on output policy as the United Arab Emirates balked at a plan to add back 2 million barrels per day in second half of year

OPEC+ delays oil output meeting after UAE reservations, sources say

OPEC+ ministers have agreed to delay their planned ministerial meeting by a day to Friday for further consultations on oil output policy, sources said on Thursday.

Oil prices climb with Opec+ signalling more gradual supply hike

Futures in New York rose as much as 3.7 per cent on Thursday to the highest intraday level since 2018

Crude oil prices inch up ahead of OPEC+ decision on supply cuts

Brent crude for September gained 15 cents, or 0.2%, to $74.77 a barrel by 0629 GMT

Oil prices drift sideways as investors await OPEC+ decision on supply cuts

Oil prices traded sideways on Thursday as investors waited for a decision from key producers on whether they would maintain or ease supply cuts in the second half of the year

OPEC+ panel sees risk of oil market imbalance after April 2022 -report

The panel, known as the Joint Technical Committee, sees an overhang of crude by the end of 2022 under different scenarios looking at supply and demand in the oil market, the report showed.

Oil set for best half since 2009 as demand recovers ahead of OPEC+ meeting

The recovery in key energy consumers including the U.S. and China has helped underpin a surge in fuel demand and driven prices to the highest level since October 2018.

Oil steadies as OPEC fuels demand hopes amid new Covid-19 worries

Brent crude futures settled up 8 cents, or 0.1%, at $74.76 a barrel, having slumped by 2% on Monday

Oil rises as OPEC fuels demand hopes amid new Covid-19 worries

NEW YORK (Reuters) - Oil prices rose on Tuesday as broad hopes for a demand recovery persisted, fueled by comments from OPEC's secretary general, overshadowed travel curbs due to new outbreaks of the highly contagious Delta variant of the coronavirus.

Oil prices 'very challenging', need them to sober a bit: India to Opec

Ahead of a meeting of oil producers' cartel OPEC, India on Tuesday said the current oil prices are "very challenging" and rates need to be a "little bit sober" lest they impact a consumption-led recovery of the global economy. Oil Minister Dharmendra Pradhan, who last week again urged OPEC to phase out its production cuts, said India is a price-sensitive market and it will buy oil wherever it gets competitive rates. The rebound in international oil prices from lows hit last month on the back of demand recovery has led to a spike in petrol and diesel retail prices in India. Fuel rates are at record highs across the country and petrol has crossed Rs 100 a litre mark in about a dozen states and union territories, while diesel is being sold at over Rs 100 a litre in Rajasthan and Odisha. "Today's price is a very challenging one," Pradhan said at BNEF Summit. "I am persuading my producer friends" for a reasonable price of oil. He said he had a very good discussion with OPEC ...

Oil prices fall on rising Covid cases in Asia, Eurupe ahead of Opec+ talks

All eyes will be on the Organization of the Petroleum Exporting Countries and its allies, a group known as OPEC+, to see what happens at their meeting on Thursday.

Oil prices slip after hitting highest since 2018 before OPEC+ talks

Brent was down 20 cents, or 0.3%, to $75.98 a barrel at 1040 GMT

Oil prices rise for fifth week to highest since 2018 on strong demand

Brent futures rose 62 cents, or 0.8 per cent, to settle at US$76.18 a barrel, while US West Texas Intermediate (WTI) crude rose 75 cents, or 1.0 per cent, to US$74.05

OVL on an oil slick, struggles with geopolitical and domestic challenges

Covid-19 has added to these issues. It has not only impacted the demand for fuel but also made the acquisition process slower.

Oil keeps climbing for fifth week on tight supply outlook, eyes on OPEC+

US West Texas Intermediate (WTI) crude futures rose 8 cents, or 0.1%, to $73.38 a barrel at 0216 GMT, headed for a 2.4% gain for the week

India presses OPEC for affordable oil, phasing out of production cuts

As a result, OPEC's share in India's oil imports has dropped to about 60 per cent in May from 74 per cent in the previous month

Middle East's crude share of India's oil imports hits 25-month low in May

India, world's third biggest oil importer, in March directed refiners to diversify crude sources after OPEC and its allies, led by top exporter Saudi Arabia, ignored Delhi's call to ease supply curbs