Russia says it will cut oil production over Western caps
The cap is enforced by barring Western companies that largely control shipping and insurance services from moving oil priced above the limit.
Saudis say US sought 1 month delay of OPEC+ production cuts
The White House has rejected any attempts to link the OPEC request to the elections, but Saudi Arabia issuing a rare, lengthy statement shows just how tense relations are between the two countries.The
Output cut by OPEC+ countries may push up India’s oil import bill
“The under-recoveries of OMCs are likely to increase on sale of petrol and diesel. If higher prices are passed on to the consumers, it would lead to higher inflation.
EXPLAINER| How will OPEC+ cuts affect oil prices, inflation?
Oil producers are wary of a sudden collapse in prices if the global economy goes downhill faster than expected.
OPEC+ tipped to make big cut down in oil output amid inflation, soaring prices
A sizeable cut now looks on the cards, the question is whether it will be large enough to offset the demand destruction caused by the impending economic downturn.
Crude output 5.6 per cent lower than target in July
The cumulative crude oil production by ONGC during April-July was 6,606.19 TMT, 1.12% lower than the target.
OPEC+ agrees minuscule oil output rise despite Biden plea
The cartel led by Saudi Arabia and Russia decided to raise production by 100,000 barrels per day for September, much lower than previous increases.
Oil movement from Sakhalin-1 project disrupted due to Russia sanctions: ONGC Videsh Ltd
OVL has a 20 per cent stake in Sakhalin-1 which is operated by ExxonMobil's Russian subsidiary, however, Exxon announced its exit from the project following Russia's invasion of Ukraine.
India’s crude output falls 2.67 per cent in 2021-22 fiscal year
India’s crude oil production fell 2.67% in the fiscal year ending March 31, according to the data released by the petroleum ministry on Wednesday.
February crude oil production falls below target
Crude oil production by the Oil and Natural Gas Corporation (ONGC) at 1510.52 TMT, was 2.92% lower than month’s target.
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.
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India, Malaysia can now trade in Indian rupee
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