OPEC
- Middle East
OPEC+ agrees to increase oil production for 3 months
Riyadh: The Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC countries, known as OPEC+, have agreed to increase oil production for May, June and July 2021. The announcement came after a meeting…
- Middle East
India to cut down oil imports from Saudi Arabia
New Delhi: In an escalating standoff with Riyadh following Organization of Petroleum Exporting Countries (OPEC)’s decision to ignore calls from New Delhi, the Indian state refiners are now planning to cut oil…
- Middle East
Sheikh Yamani who made Saudi Arabia ‘oil-market superpower’ passes away
Jeddah: Saudi Arabia’s former minister of petroleum and mineral resources Sheikh Yamani, who made the Kingdom an ‘oil-market superpower’, passed away in London on Tuesday. He was 91 years old. According to…
- Middle East
Saudi crown prince Bin Salman, Putin discuss the OPEC+ agreement
Riyadh: Saudi Crown Prince Mohammed Bin Salman and Russian President Vladimir Putin on Monday discussed the implementation of the Organization of the Petroleum Exporting Countries (OPEC+) agreement for oil production, the Saudi press…
- Business
OPEC and allies to ease cuts, allow more oil production
New York: Ministers from the OPEC cartel have agreed to allow more oil to flow from the taps, saying demand for oil is growing as economies take steps to reopen. But they…
- Business
World shares mixed following Wall St rally, OPEC-plus deal
Bangkok: Shares opened lower in Asia on Monday after a broad advance in Asia following news that the U.S. economy added more jobs than expected in May. Germany’s DAX shed 0.6% to…
- Business
Asian shares advance on Wall St jobs rally, OPEC plus deal
Bangkok: Shares advanced Monday in Asia, buoyed by surprisingly strong U.S. jobs figures that helped power a surge on Wall Street on Friday. Crude oil prices rose after major oil producing nations…
- Business
OPEC, allied nations extend nearly 10M barrel cut by a month
Dubai: OPEC and allied nations have agreed to extend a production cut of nearly 10 million barrels of oil a day through the end of July, hoping to encourage stability in energy…
- Business
Top oil producers except Mexico agree to output cuts: OPEC
London: Major oil producers except Mexico agreed to cut output in May and June by 10 million barrels per day, OPEC said Friday, after marathon talks to counter a collapse in prices.…
- World
OPEC puts heads together over oil output cuts
LONDON: Top oil producers were trying to finalise a crucial agreement on output cuts in the small hours of Friday in an attempt to counter a collapse in prices due to the…
- Business
OPEC+ to hold video conference meeting on Monday: source
Vienna: The OPEC+ grouping led by major oil producer Russia will meet Monday via a video conference, a source close to OPEC said Friday. Leading world crude exporter Saudi Arabia on Thursday…
- Top Stories
Saudi Arabia seeks urgent OPEC+ meeting
Riyadh: Leading world crude exporter Saudi Arabia on Thursday made a surprise call for a meeting of the OPEC+ oil producers to “stabilise the oil market” amid a price war. Urgent meeting “The…
- World
OPEC committee urges output cut over coronavirus
Algiers: A committee appointed by the OPEC club of oil-producing countries and its allies to study the effects of coronavirus recommended additional output cuts on Saturday, Algeria’s energy minister said. Impact on…
- Business
OPEC crude output to average 29.6m barrels a day: EIA
Houston: Crude oil production from the Organization of the Petroleum Exporting Countries (OPEC) will average 29.6 million barrels per day (b/d) in 2020, down by 2.3 million b/d from 2018, according to…
- Middle East
Saudi stocks dip 3% in first session after oil attack
Saudi shares slumped at the start of trading Sunday, the first session after drone attacks on two major oil facilities knocked out more than half the OPEC kingpin’s production. The Tadawul All-Shares…
- Business
Oil prices jump as OPEC on course to extend output cuts
Vienna: Oil prices jumped Monday as OPEC nations moved towards extending daily oil output caps that help the price of crude rise strongly this year. Ministers from the 14-nation Organization of the…
- Business
OPEC faces output balancing act over US-Iran crisis
LONDON: OPEC is on red alert over escalating US-Iran tensions that have fuelled strong oil-price gains — but the cartel and other crude-producing nations are unlikely to end output cuts at a…
- Business
Oil prices rise ahead of OPEC, allies meeting
New York: Oil prices rose slightly on Thursday, as investors looked to an output cut deal to be extended between the Organisation of Petroleum Exporting Countries (OPEC) and its allies during an…
- World
Oil prices rise ahead of OPEC, allies meeting
New York: Oil prices rose slightly on Thursday, as investors looked to an output cut deal to be extended between the Organisation of Petroleum Exporting Countries (OPEC) and its allies during an…
- Middle East
Saudi, UAE see sufficient oil supplies, rising stocks
JEDDAH: Oil supplies were sufficient and stockpiles were still rising despite massive output drops from Iran and Venezuela, said OPEC kingpin Saudi Arabia and key producer UAE on Sunday, as oil exporters…
- Middle East
Saudi defiant on oil cuts after Trump tells OPEC to ‘relax’
RIYADH: The Saudi energy minister said Wednesday he is leaning towards extending oil production cuts in the second half of 2019, despite US President Donald Trump‘s demand to keep prices down. OPEC…
