Page 24 - Opec

Crude oil prices remain stable despite surge in global Covid-19 cases

The World Health Organization reported a record daily increase in global coronavirus cases on Sunday, with the total up by more than 230,000.

OPEC chief sees oil market moving closer to balance ahead of key meeting

After July, the cuts are due to taper to 7.7 million bpd until December although a final decision has yet to be taken

Oil prices steady as economic data overshadows coronavirus worries

Brent crude futures settled at $43.08 a barrel, down 2 cents in the session. US West Texas Intermediate settled down 1 cent at $40.62 a barrel.

Oil steady as hopeful economic data face spike in coronavirus cases

Brent crude settled at $43.10 a barrel, up 30 cents.

Oil prices mixed as coronavirus spike casts shadow over US demand

OPEC and allies including Russia, collectively known as OPEC+, have pledged to slash production by a record 9.7 million barrels per day (bpd) for a third month in July

Oil falls below $43 a bbl on Covid-19 surge but headed for a weekly gain

OPEC oil production fell to its lowest in decades in June and Russian production dropped to near its OPEC+ target

Market Ahead, July 3: All you need to know before the opening bell

On the results front, a total of 18 companies including Indiabulls Housing Finance are scheduled to announce their results today

OPEC basket oil price rises above $40 for first time in 4 months

The basket price stood at $42.66/bbl on July 1, almost 12% higher than the previous day, and the highest since March 3, the data showed

Goldman Sachs sees oil demand returning to pre-coronavirus levels by 2022

Demand is expected to fall by 8% this year, before rebounding 6% in 2021, the bank said

Opec cuts output to lowest since 1991 as coronavirus slams oil demand

The Organization of Petroleum Exporting Countries cut production by 1.93 million barrels a day to 22.69 million a day last month, according to the survey.

OPEC, Russia seen easing oil production cuts from August: Report

OPEC+ have agreed to cut production by a record 9.7 million barrels per day

OPEC has cut oil output by 1.25 mbpd in June, says Petro-Logistics

OPEC has cut oil output in June as it works to implement a supply restraint agreement with Russia and other allies, according to estimates from tanker-tracking company Petro-Logistics

Oil slips below $40 a barrel on record US crude inventories, Covid-19 fears

Investors are waiting to see if the producers, known as OPEC+, extend their record cut beyond July

India's May oil imports hit lowest since 2011 over drop in demand: Report

In May, India imported 3.18 million barrels per day (bpd) of oil, a decline of about 31% from April and about 26% from a year ago, the data showed

Oil prices reach $42/barrel as OPEC+ laggards pledge better compliance

A premium for oil for immediate delivery usually indicates tightening supply and encourages storage to be drawn down

Oil prices rise as supply cut hopes outweigh Covid-19 resurgence fears

Coronavirus cases rose to more than 8 million worldwide by Monday, with infections surging in Latin America

ONGC seeks crude price assurance of $45 per barrel, cuts capex by 15%

The largest domestic oil and gas producer had budgeted a capex of Rs 32,502 crore for the financial year, which has now been cut to around Rs 27,500 crore.

Oil prices slide on concerns about patchy demand recovery, record US stocks

Brent crude futures fell 2.0%, or 85 cents, to $40.88 a barrel, also giving up gains from Wednesday

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.

Oil falls over 3% despite OPEC+ cuts as Gulf ends voluntary curbs

The group, known as OPEC+, agreed on Saturday to sustain those cuts, equal to about 10% of global supply, through July