OPEC

OPEC cuts oil demand forecast, prices set to fall 

The revised more pessimistic outlook is likely to see crude oil prices trend lower than their current levels. In fact, brent crude has already slipped below $40 a barrel on Monday, trading at $39.76 p

published on : 15th September 2020

Engineering colleges’ plea on admission of students

He also suggested that 50 per cent seats should be reserved for students from Odisha and the balance be allowed for admission from across the country based on the PCME marks.

published on : 22nd April 2020

OPEC ministers and allies discuss 'dramatic' oil market situation

OPEC said the teleconference was held at the initiative of Mohamed Arkab, energy minister of Algeria, which currently holds OPEC's presidency.

published on : 22nd April 2020

OPEC kingpin Saudi Arabia says closely monitoring oil markets, ready to act

The OPEC+ group of major producers last week agreed record production cuts of 9.7 million bpd to prop up prices that had shed more than 60 percent as the COVID illness shut down businesses worldwide.

published on : 21st April 2020

Here's why fuel prices won't fall despite oil hitting record low

'Government may increase excise duty to make up for shortfall in revenue due to Covid-19 lockdown. Lower fuel prices are unlikely in a substantial manner,' said an expert.

published on : 21st April 2020

Ending price war, OPEC producers, allies reach record deal to cut oil output amid COVID-19 slowdown

The only detail to have been confirmed so far is that 9.7 million barrels per day will be cut by Opec oil producers and allies.

published on : 13th April 2020

Oil exporters set to cut output as Mexico wrinkle is ironed out

According to oil market analysts, this should help crude oil prices gain some value while reducing the strain on already overloaded global oil storage facilities.

published on : 11th April 2020

Russia hints towards talks of truce to stabilise oil market

Russia refused to agree to a proposal by OPEC ministers led by Saudi Arabia for a drastic cut of 1.5 million barrels per day with Russian oil companies fearing loss of market share.

published on : 11th March 2020

OPEC to try to stem oil price plunge amid coronavirus slowdown

The extraordinary two-day meeting will see OPEC, led by Saudi Arabi discuss how to halt the sharp fall in oil prices in the past two months as the epidemic has spread.

published on : 3rd March 2020

Oil hits 4-year high after OPEC+ shows no sign of turning on the taps

The United States from Nov. 4 will target Iran's oil exports with sanctions, and Washington is putting pressure on governments and companies around the world to fall in line and cut their purchases.

published on : 25th September 2018

India warned OPEC of high oil prices shrinking demand 

At the meeting of the Organisation of Petroleum Exporting Countries (OPEC) in Vienna last week, Oil Minister Dharmendra Pradhan and his team of officials presented the consumer side to the producers.

published on : 25th June 2018

India happy with OPEC decision to raise oil production

The Organization of Petroleum Exporting Countries (OPEC) last week agreed to boost oil production after consumers from the US to India and China expressed anxiety over rising prices.

published on : 25th June 2018

Donald Trump rails against high oil prices, OPEC pushes back

US President Donald Trump accused OPEC on Friday of "artificially" boosting oil prices, drawing rebukes from some of the world's top energy exporters.

published on : 21st April 2018

Crude oil opens new vistas in India-US relationship  

With this India, the world's third-largest oil importer, joins Asian countries like South Korea, Japan and China to buy American crude after production cuts by OPEC.

published on : 17th August 2017

Impact of OPEC oil supply cuts will take time to be felt: IEA

At the end of November, the Organization of Petroleum Exporting Countries agreed to cut output by 1.2 million barrels per day (bpd) from January 1, initially for a period of six months.

published on : 15th March 2017
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