DUBAI, United Arab Emirates — OPEC and allied nations agreed Sunday to raise the production limits imposed on five countries next year and boost their production by 2 million barrels per day by the end of this year, ending a dispute that roiled oil markets. The disagreement, sparked […]
DUBAI, June 22 – OPEC+ is discussing a further easing of oil output cuts from August as oil prices rise on demand recovery, but no decision had been taken yet on the exact volume to bring back to the market, two OPEC+ sources said on Tuesday. The Organization […]
Climate activists who scored big against Western majors last week had some unlikely cheerleaders in the oil capitals of Saudi Arabia, Abu Dhabi and Russia. Defeats in the courtroom and boardroom mean Royal Dutch Shell (RDSa.L), ExxonMobil (XOM.N) and Chevron (CVX.N) are all under pressure to cut carbon emissions faster. That’s good news […]
OPEC’s share of India’s oil imports fell to the lowest in at least two decades in the year to the end of March as overall purchases by Asia’s third largest economy fell to a six-year low, data obtained from industry and trade sources showed. Total crude imports by […]
LONDON – Oil prices rose sharply on Friday and were on track for weekly gains as a meeting of OPEC and its allies agreed to extend output cuts by 500,000 barrels per day in early 2020. The additional cuts by the Organization of the Petroleum Exporting Countries and […]
NEW DELHI – OPEC’S share of India’s oil imports fell to 73% in October, its lowest monthly share since at least 2011, tanker data from sources showed, as refiners shipped in fuel from the United States and other suppliers. India, which usually imports about 80% of its needs […]
OPEC and its allies are set this week to prolong oil output cuts to further boost prices, after the two biggest players Russia and Saudi Arabia agreed to do so. Ministers from the 14-nation Organization of the Petroleum Exporting Countries (OPEC) meet in Vienna on Monday to discuss […]
OPEC ministers presented a “final draft” of an agreement for oil production cuts to a meeting Friday with partner countries including Russia, as oil prices rebounded at news that a deal may be close. The price of Brent, the European benchmark, surged five percent on Friday after reports […]
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