Page 17 - Opec

Oil rallies above $67 as demand optimism outweighs Iran supply concerns

Investors wager that progress in combating the Covid-19 pandemic will spur energy consumption.

India to look to OPEC once oil demand recovers after Covid second wave

India's oil demand growth is set to be just 350,000 barrels per day (b/d) in 2021, according to S&P Global Platts Analytics, given extreme consumption weakness in April and May

Indian refiners set to curb spot buying to make room for Iranian oil

The world's third largest oil consumer and importer halted imports from Tehran in 2019 after former US President Donald Trump withdrew from a 2015 accord

Oil prices drop as India's coronavirus crisis puts brakes on rally

Oil demand was already outstripping supply and the shortfall was expected to grow even if Iran boosted exports

Opec sticks to 2021 oil demand growth forecast despite Indian Covid crisis

The Organization of the Petroleum Exporting Countries expected demand to rise by 5.95 million barrels per day (bpd) this year, or 6.6%, its forecast unchanged from last month.

OPEC's share of Indian oil imports plunges to two decade low, shows data

Total crude imports by the world's third-biggest oil importer fell to 3.97 million barrels per day (bpd) in the 2021 fiscal year to March 31, down 11.8% from a year earlier

OPEC+ to meet Tuesday amid concern about rising coronavirus cases

OPEC is responsible for over a third of global production

Crude oil erases loss with Opec+ panel raising demand growth outlook

The deteriorating situation there could pose a problem for the Organization of Petroleum Exporting Countries and its allies, which have agreed to start adding more supply from May

IOC to buy Guyanese crude as India doubles up on cutting Opec dependence

According to oil ministry officials, this deal is at competitive rates and is in line with the strategy to have multiple sources of crude oil for Indian refiners

Oil up as OPEC raises 2021 demand growth forecast on hope pandemic wanes

OPEC raises 2021 global oil #demand growth view by 100,000 bpd to 6 mn

Crude oil will climb above $70; energy security could reappear on the radar

Crude oil prices could shift higher again once the market shakes off the latest bout of coronavirus jitters

Undiplomatic wrangling

India-Saudi relationship must survive oil price dispute

Indian refiners deepen cuts to Saudi oil purchases, to buy 36% less in May

Energy relations between India, the world's third biggest oil importer and consumer, and Saudi Arabia have soured as global oil prices spiked

Oil prices drop below $64 as rising OPEC+, Iranian output weighs

Oil has recovered from historic lows last year with the support of record OPEC+ cuts, most of which will remain after July

OPEC and allies agree to gradually boost crude oil output from May to July

The OPEC oil cartel and allied countries said that they have decided to add gradually add back some 2 million barrels per barrel per day of oil production from May to July

US resumes calls to Saudi Arabia as OPEC+ debates increase or rollover

Trump insisted OPEC raise production to prevent prices from spiking too high

OPEC+ panel lowers oil demand growth forecast by 300,000 barrels per day

OPEC+ has lowered its 2021 oil demand growth forecast by 300,000 barrels per day reflecting concerns about the market's recovery as new coronavirus lockdowns take hold

Uncertainties may impact recovery in oil demand, says OPEC+ panel

OPEC+ has raised concerns that uncertainties may impact the recovery in oil demand due to rising numbers of virus infections globally and lockdown measures

Oil prices fall as Suez Canal opens, focus turns to OPEC+ output

Brent crude was down $1.02, or 1.6%, at $63.96 a barrel by 1334 GMT. West Texas Intermediate US oil was off by $1.16, or 1.9%, at $60.40 barrel

Oil prices slip as Suez Canal opens, focus turns to OPEC+ output cuts

Brent crude was down 50 cents, or 0.8%, at $64.48 a barrel by 0851 GMT. US oil was off by 58 cents, or 0.9%, at $60.98 barrel