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OPEC+ nears deal on oil production cuts, prices surge

For a country like India, heavily reliant on oil imports accounting for over 80% of its requirements, any surge in oil prices significantly impacts the oil import bill.

1 Dec 2023 7:41 AM GMT

Iraq signs deals with UAE firm to develop three oil, gas fields

Iraq signs deals with UAE firm to develop three oil, gas fields

16 Oct 2023 6:56 AM GMT

Oil prices rise as Saudi slashes output

Oil prices rise as Saudi slashes output

Oil-producing countries have agreed to continued cuts in production in a bid to shore up flagging prices, the media...

5 Jun 2023 6:59 AM GMT

Global oil prices surge after Gulf countries announce production cuts

Global oil prices surge after Gulf countries announce production cuts

London: After Saudi Arabia, Iraq, and several Gulf states informed them of cutting their production, oil prices surged...

3 April 2023 10:17 AM GMT

KSA responds to US criticism of OPEC+ cuts: We dont use oil as a weapon

KSA responds to US criticism of OPEC+ cuts: "We don't use oil as a weapon"

Saudi Foreign Ministry stated that assertions that the Kingdom was supporting the cutbacks for political purposes...

14 Oct 2022 10:51 AM GMT

OPEC+, including Russia, to come up with new agreement: Riyadh

OPEC+, including Russia, to come up with new agreement: Riyadh

Riyadh: Saudi Arabia's Energy Minister Prince Abdulaziz bin Salman informed that the Kingdom's administration is...

23 May 2022 5:22 PM GMT

Iraq exports more than 98mn barrels of crude oil in November

Iraq exports more than 98mn barrels of crude oil in November

Baghdad: Iraq has exported 98.19 million barrels of crude oil in November, bringing in revenues of about $7.59 billion,...

2 Dec 2021 10:46 AM GMT

Oil production to increase by 4 Lakh barrels per day: OPEC

Oil production to increase by 4 Lakh barrels per day: OPEC

New Delhi: Organization of the Petroleum Exporting Countries (OPEC) has decided to increase crude oil production per a...

21 July 2021 6:48 AM GMT

High oil prices reduce Indians capacity to spend on health: SBI report

High oil prices reduce Indians capacity to spend on health: SBI report

Mumbai: The State Bank of India's Ecowrap report has narrated the drastic situation where Indians have reached due to...

14 July 2021 6:54 AM GMT

Pandemic could delay demand recovery in global oil market

Pandemic could delay demand recovery in global oil market

Mumbai: As fresh covid-19 cases are on a surge in the country, eventual lock downs are likely to delay the demand...

11 April 2021 4:53 PM GMT

No return to pre-COVID oil demand in the near future,says OPEC report

No return to pre-COVID oil demand in the near future,says OPEC report

The latest monthly oil market report from OPEC showed that there won't be any return for the pre- COVID oil demand...

6 Nov 2020 5:55 PM GMT