Oil production

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.

published on : 11th February 2023

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

published on : 13th October 2022

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.

published on : 11th October 2022

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.

published on : 6th October 2022

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. 

published on : 3rd October 2022

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.

published on : 24th August 2022

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.

published on : 3rd August 2022

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.

published on : 13th June 2022

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.

published on : 21st April 2022

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.

published on : 23rd March 2022

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