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UAE's adieu to OPEC

The UAE explains its strategic decision as one considering long-term national interests. While this can be construed in several ways, most experts tend to perceive that the country is dissatisfied with the production quotas determined by OPEC

30 April 2026 9:30 AM IST

Russia says it will stay in OPEC+ after UAE exit

29 April 2026 10:56 PM IST

UAE announces exit from OPEC effective May 1

UAE announces exit from OPEC effective May 1

The United Arab Emirates will withdraw from the oil cartel and its allied grouping, citing a strategic energy shift and...

28 April 2026 8:20 PM IST

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...

1 Dec 2023 1:11 PM IST

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

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

In a statement issued on Sunday, the Ministry announced that the agreements would enable Iraq to produce 400 million...

16 Oct 2023 12:26 PM IST

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 12:29 PM IST

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 3:47 PM IST

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 4:21 PM IST

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 10:52 PM IST

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 4:16 PM IST

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 12:18 PM IST

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 12:24 PM IST

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 10:23 PM IST

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 11:25 PM IST