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The Modi government is coming under increasing pressure to cut duties after Opec and allies decided to play hardball on output cuts. Finance minister Nirmala Sitharaman on Thursday admitted there was...

Members of oil producer cartel Opec and allied countries have agreed to leave most of their existing oil production cuts in place as the spread of new coronavirus variants prolongs concerns about econ...

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Saudi Arabia’s Sheikh Zaki Yamani, the embodiment of the ascent of Arab petroleum power and the face of the 1973 oil embargo that brought the West to its knees, died in London, state media repor...

Opec members have reached a consensus on the need to extend existing oil production cuts for three months from January and will work on convincing their allies in the wider Opec+ group to support such...

Key members of Opec are wary that strains in the Opec+ alliance could reemerge with Joe Biden as US President, sources close to the organisation said, and would miss President Donald Trump who went fr...

World oil demand will fall more steeply in 2020 than previously forecast because of the coronavirus and there are doubts about next year’s recovery, Opec forecast on Wednesday, potentially makin...

The impact of the recent decision by oil cartel Opec to cut output will be felt only in January, the government said on Tuesday.“Let us wait and watch to see what happens next… Any kind of rationi...

The tiny, wealthy Persian Gulf state of Qatar will withdraw from Opec in January, the country’s energy minister said on Monday.The minister, Saad Sherida al-Kaabi, said the move would allow Qatar to...