OPEC
- World
OPEC plus oil production cuts: US will take action against Saudi Arabia, says Biden
Washington: US President Joe Biden on Wednesday said his administration will take action against Saudi Arabia after the Riyadh-led OPEC+ alliance announced plans to cut oil production, a move that America said…
- World
Putin hosts United Arab Emirates leader for economic talks
St Petersburg: Russian President Vladimir Putin on Tuesday hailed a recent decision by OPEC, Russia and other oil-producing nations to limit production as a key to stabilising the global energy market, as…
- World
How will OPEC plus cuts affect oil prices, inflation in India?
The decision of the OPEC plus countries to cut oil supply is going to impact the fuel prices and inflation in India and other countries across the world. Already almost all countries…
- Middle East
White House fails to prevent OPEC+ decision to cut oil production
The administration of US President Joe Biden launched a large-scale campaign in a last attempt to distract US allies in the Middle East from the decision to significantly reduce oil production, the Cable News…
- World
OPEC announces big cut in oil production
London: OPEC+ said on Wednesday that it will slash oil production by 2 million barrels per day, the biggest cut since the start of the Covid-19 pandemic, media reports said. The group…
- Middle East
OPEC oil cartel, allies to consider biggest cut in oil production since pandemic
Abu Dhabi: Major oil producing states are bracing the world for the biggest cut in oil production since the pandemic, the media reported. The OPEC oil cartel and its allies, including Russia,…
- India
Saudi overtakes Russia to become India’s second biggest oil supplier
Riyadh: After a three-month gap, the Kingdom of Saudi Arabia (KSA) has overtaken Russia by a narrow margin to become India’s second-biggest supplier of oil behind Iraq in August 2022. According to…
- Business
OPEC further lowers forecasts for global economy
Vienna: The Organisation of the Petroleum Exporting Countries (OPEC) has further revised down its forecasts for this year’s global economic growth and oil demand, following a previous downward revision in May. The…
- World
OPEC+ boosts oil output by slower pace than previous months
Vienna: The OPEC oil cartel and its allies decided on Wednesday to boost production in September at a much slower pace than in previous months at a time of high oil prices…
- Middle East
Kuwait to boost oil production to 2.77 mn barrels per day
Kuwait: Kuwait has announced that its oil production will rise to nearly 2.77 million barrels per day (bpd) in July. Kuwaiti Deputy Prime Minister and Oil Minister Mohammad Al-Fares made the announcement…
- World
Biden may visit Saudi Arabia in late June: Reports
Washington: US President Joe Biden is expected to visit Saudi Arabia this month, NBC reported citing sources. He is also widely expected to travel to Israel. The is will be a symbolically…
- 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…
