Organisation Of Petroleum Exporting Countries Opec
Business  /  Published 06.10.22

Oil cartel lowers output

OPEC+ agreed its deepest cuts to oil production since the 2020 Covid pandemic at a Vienna meeting on Wednesday, curbing supply in an already tight market despite pressure from the United States and ot...
By Reuters in Vienna, London

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 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 05.10.21

Oil prices hike on Opec move

Oil prices jumped Monday after Opec and allied oil producing countries stayed with their gradual approach to restoring output slashed during the pandemic, agreeing to add only 400,000 barrels per day ...
By AP in Frankfurt

Business  /  Published 25.06.21

Pradhan price plea to Opec

India on Thursday pressed oil cartel Opec for an “affordable” oil price within a “reasonable band”. It also urged the producers to phase out production cuts. Opec nations such...
By PTI in New Delhi

World  /  Published 24.02.21

Saudi face of 1973 oil embargo dead

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...
By Reuters in Dubai

Business  /  Published 11.12.18

Close vigil on Opec

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...
By Our Special Correspondent in New Delhi


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