Saudi Arabia and other Opec+ states have agreed to bring forward plans to raise oil production in order to offset Russian output losses and ease surging prices that have driven global inflation to a m...

Opec+ agreed on Thursday to another modest monthly oil output increase, arguing that the producer group could not be blamed for disruptions to Russian supply and saying China’s coronavirus lockd...

Monday night’s rapier moves by the PSU refiners to raise fuel prices are simply not enough to shield their margins, analysts said. They said the 80-paise hike was insufficient. With crude likel...

Oil prices jumped more than $6 on Monday, with Brent crude climbing above $114 a barrel, as European Union nations considered joining the US in a Russian oil embargo and after a weekend attack on Saud...

Opec and its allies agreed on Thursday to stick to their existing policy of monthly oil output increases despite fears that a US release from crude reserves and the new Omicron coronavirus variant wou...

Opec+ is monitoring developments around the new coronavirus variant, sources said, and is inclined to ditch its plan to raise output next week. The 23-nation group led by Saudi Arabia is leaning towa...

India on Tuesday said it would release 5 million barrels of crude from its strategic reserves and soon after, the US said it would release 50 million barrels from its stockpile, kicking off an unprece...

India is working on ways to release crude oil from its strategic storages in tandem with other major economies to dampen prices, a top government official said on Monday. The US had last week made th...

India is studying a rare Biden- administration request to release crude oil from its strategic reserves in a co-ordinated manner with other major consuming countries to keep a lid on prices. The US h...

Officials from the Organisation of the Petroleum Exporting Countries, Russia and other oil-producing nations shook off pressure from the Biden administration and decided on Thursday to stick with thei...