OPEC
- World
OPEC+ decides oil output amid concern over Russia, Ukraine
Frankfurt: Oil cartel OPEC and allied countries are deciding how much oil to feed into the global economy as crude prices hover near seven-year highs spiking gasoline costs and fears of a…
- World
OPEC+ keeps cautious oil production despite Biden pressure
Frankfurt: OPEC and allied oil-producing countries rebuffed pressure from US President Joe Biden to pump significantly more oil and lower gasoline prices for US drivers, deciding Thursday to stick with their plan for…
- Business
Oil at 7-year high after OPEC+ decides on cautious increase
Frankfurt: 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…
- Business
Petrol, diesel prices unchanged on Tuesday
New Delhi: Auto fuel prices in the country have maintained stability amidst volatility in global oil prices over rise in demand and concerns on production. The oil marketing companies (OMCs) on Tuesday…
- Business
No revision in petrol, diesel prices, a day after price cut
New Delhi: The oil marketing companies (OMCs) have kept pump prices of auto fuels — petrol and diesel — unchanged on Monday, a day after reducing retail rates by 15 paise per…
- Business
Global shares fall on virus fears; oil slips on OPEC deal
Tokyo: Global shares fell Monday amid deepening pessimism over rising COVID-19 infections in much of Asia. Oil prices dropped further after oil producing nations agreed to raise production limits. France’s CAC 40…
- Business
No fuel price hike for second straight day
New Delhi: The oil marketing companies kept the retail price of petrol and diesel unchanged on Wednesday, the second consecutive day of no change, to analyse the global oil price movement before…
- Business
Global shares fall after stalemate in OPEC talks, US holiday
Tokyo: Global shares were mostly lower Tuesday as oil prices surged after a meeting of oil producing nations was postponed, with little else guiding trading after the US Independence Day holiday. France’s…
- Middle East
Saudi Arabia to supply more oxygen, containers to India
Riyadh: Saudi Arabia is shipping to India more medical oxygen and tankers for ferrying them as it increases aid for the nation fighting the world’s worst outbreak of COVID-19 pandemic. Last month,…
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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…
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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…
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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…
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