Page 5 - Opec

OPEC+ boosts September oil output by slower pace than previous months

The OPEC+ coalition said it will increase output to 100,000 barrels a day next month after raising it by by 648,000 barrels per day in July and August.

OPEC+ to decide September oil output for world amid high inflation

They also will be considering what effects staggering inflation and rising COVID-19 rates may have on global demand for fuel in the fall, with gasoline prices at the pump still high.

Windfall tax: Frequent changes create uncertainty for Indian oil producers

Experts say move is justified but government should clarify how proceeds will be utilised

Oil prices slip as global demand concerns weigh, OPEC+ meeting eyed

Surveys showed on Monday that factories across the United States, Europe and Asia struggled for momentum in July as flagging global demand and China's strict COVID-19 restrictions slowed production.

Saudi to push OPEC+ to increase oil production at upcoming meeting: Report

Saudi King Salman bin Abdulaziz assured US President Joe Biden of the production increase when they met on July 16

Oil prices drop by 63 cents to $103.34 ahead of OPEC+ meeting on Aug 3

Oil prices dropped early on Monday as investors braced for this week's meeting of officials from OPEC and other top producers on supply adjustments

Oil, geopolitics, and climate change

Crude oil still commands its place in the fuel market, but investments in oil exploration have gone down as concerns about climate change grow

Crude oil prices up 2.5% as no immediate Saudi output boost expected

The comment during U.S. President Joe Biden's Middle East visit comes at a time when spare capacity at members of the Organization of the Petroleum Exporting Countries (OPEC) is running low.

Centre committed to meeting FY23 fiscal deficit target: Official

Says macroeconomic fundamentals and forex reserves are robust enough to deal with current geo-political challenges

India to drop windfall tax if oil prices fall $40 a barrel: Revenue Secy

The tax on firms that have increased product exports to gain from higher overseas margins took effect on July 1, as the government moves to boost domestic supply and revenue

Russia may be India's biggest crude supplier in June, a historic first

Russian oil is on pace to account for 21 per cent of all imports into India, shrinking the shares of Iraqi and US crude

OPEC+ alliance may not be much help with high oil, gasoline prices

The 23-member OPEC+ alliance, which includes Russia, is struggling to produce enough oil to keep up with the rebounding demand for fuel since the Covid-19 pandemic

Opec+ struggles to meet its supply targets amid high crude prices

A recovery from Covid-19 and a shortage of refining capacity to make fuels continue to keep prices at record highs

UAE, Saudi can barely raise oil output, Macron tells Biden at G7 summit

Brent oil prices jumped by over $2 per barrel to above $115 per barrel on the news amid tight global supplies and rising demand

Asia's thirst for cheap Russian oil hits Opec's No 2 producer Iraq

The Iraqi grades are an outlier in Asia, where robust demand led to an earlier-than-usual start of the trading cycle for physical crude buying

India faces near-term challenges; better placed to deal with them: FinMin

India's medium-term growth prospects remain bright as pent-up capacity expansion in the private sector is expected to drive capital formation, employment generation in rest of this decade, says report

OPEC keeps forecast for 2022 oil demand to exceed pre-Covid levels

OPEC leaves 2022 oil demand growth forecast at 3.36 mbpd, cuts 2022 Russian output forecast, leaves US shale steady

OPEC delegates see global oil demand growth slowing in 2023: Report

High crude prices have eaten into growth projections for 2022 and fed into expectations for slower growth in 2023.

Saudi Arabia cuts oil flows to China while meeting other requests

State-run marketer Saudi Aramco typically doesn't provide buyers with a reason why volumes are cut

G7 calls on Opec to play key role to ease global energy supplies

Opec and its allies, a group known as Opec+, has so far rebuffed Western calls for a faster increase in oil production to lower surging prices