Business  /  Published 03.06.22

Opec+ to raise output sooner

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...
By Reuters, AP in Riyadh, London, Dubai

Business  /  Published 06.05.22

Opec+ sticks to plan

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...
By Reuters in London

Business  /  Published 23.03.22

Oil firms may inflict more pain

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...
By Our Special Correspondent in Mumbai

Business  /  Published 22.03.22

EU sanction threat fires up crude price

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...
By Reuters, PTI in Mumbai, London

Business  /  Published 03.12.21

Oil cartel sticks to old output hike plan

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...
By Reuters in London


Business  /  Published 28.11.21

Opec may drop plan to raise output

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...
By Agencies in Moscow, London

Business  /  Published 24.11.21

India, US dip into crude oil reserves

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...
By Our Special Correspondent in New Delhi

Business  /  Published 23.11.21

Joint action to check oil price

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...
By PTI in New Delhi

Business  /  Published 19.11.21

India mulls US plan to tame crude prices

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...
By R. Suryamurthy in New Delhi

Business  /  Published 05.11.21

Opec rebuffs Biden pressure on output

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...
By PTI in Frankfurt


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