Oil Producers

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Oil Producers - Total results - 15
World's insatiable appetite for plastic is driving oil producers' future growth: Carbon Tracker report
World

World's insatiable appetite for plastic is driving oil producers' future growth: Carbon Tracker report

Plastic production has increased around four percent every year since 2000 and the industry expects that rate of growth to continue, driven mainly by emerging economies.

Oil prices up, but ends wild week lower; economic disruption due to coronavirus pandemic slashes fuel demand
Business

Oil prices up, but ends wild week lower; economic disruption due to coronavirus pandemic slashes fuel demand

Oil trading was extremely volatile all week, in an extension of the selling that has dominated trading since early March as demand collapsed 30 percent due to the pandemic.

Coronavirus Crisis: Whether OPEC Plus oil producers formally agree, deeper cuts now look inevitable
Business

Coronavirus Crisis: Whether OPEC Plus oil producers formally agree, deeper cuts now look inevitable

With crude consumption collapsing, the Organization of the Petroleum Exporting Countries, Russia and other producers, a group known as OPEC+, is due to implement a deal to cut supply by a record 9.7 million barrels per day (bpd) from 1 May.

OPEC, Russia approve biggest-ever oil cut to support prices amid coronavirus pandemic; cut unprecedented deal
Business

OPEC, Russia approve biggest-ever oil cut to support prices amid coronavirus pandemic; cut unprecedented deal

OPEC, Russia approve biggest-ever oil cut to support prices amid coronavirus pandemic; unprecedented deal made with oil producing nations

Saudi-Mexican clash halts record oil output cut deal despite Donald Trump's mediation offer
Business

Saudi-Mexican clash halts record oil output cut deal despite Donald Trump's mediation offer

Mexico President Andres Manuel Lopez Obrador said on Friday Trump had offered to make extra US cuts on his behalf, an unusual offer by a president who has long railed against OPEC.

Oil demand drops 30%; OPEC allies likely to agree to cut production in meeting on Thursday if US joins effort, says report
Business

Oil demand drops 30%; OPEC allies likely to agree to cut production in meeting on Thursday if US joins effort, says report

While antitrust laws prohibit US oil producers from taking steps to push up oil prices, curbing output would be legal if state regulators or the federal government set lower production levels, antitrust experts said

Oil bounces 8% from biggest one-day rout in 30 years on stimulus hopes, virus slowdown in China
Business

Oil bounces 8% from biggest one-day rout in 30 years on stimulus hopes, virus slowdown in China

On the demand side, the International Energy Agency said oil demand was set to contract in 2020 for the first time since 2009.

Oil prices fall amid concerns over demand as coronavirus spread beyond China; crude producers not to cut output
Business

Oil prices fall amid concerns over demand as coronavirus spread beyond China; crude producers not to cut output

Adding to pressure on oil prices was the strength of the US dollar as investors looked for safe havens.

Sensex, Nifty start on a volatile note; investors turn jittery on weak domestic, global cues amid foreign fund outflow
Business

Sensex, Nifty start on a volatile note; investors turn jittery on weak domestic, global cues amid foreign fund outflow

Top gainers in the Sensex pack in early trade included Yes Bank, IndusInd Bank, Asian Paints, M&M, Axis Bank, NTPC and PowerGrid, rising up to 2.23 percent.

Prime Minister Narendra Modi's views taken seriously while deciding oil prices, says Saudi oil minister
Business

Prime Minister Narendra Modi's views taken seriously while deciding oil prices, says Saudi oil minister

Prime Minister Narendra Modi, it has been very strongly making a case for oil producers' cartel OPEC to price crude at reasonable and responsible rates.

Oil prices hit year low at $60.29; OPEC considers output cut after 6 December meet to stem rising global surplus
Business

Oil prices hit year low at $60.29; OPEC considers output cut after 6 December meet to stem rising global surplus

Oil prices fell to their lowest in a year on Friday, on course for their biggest one-month decline since late 2014, even as oil producers consider cutting output to stem a rising global surplus.

US firmly on course to become world's top oil producer next year; noses ahead of Saudi Arabia for first time in 4 decades
World

US firmly on course to become world's top oil producer next year; noses ahead of Saudi Arabia for first time in 4 decades

The U.S. has nosed ahead of Saudi Arabia and is on pace to surpass Russia to become the world's biggest oil producer for the first time in more than four decades. The latest forecast from the U.S. Energy Information Administration predicts that U.S. output will grow next year to 11.8 million barrels a day.

India discusses 'oil buyers club' with China; seeks US crude to counter OPEC
World

India discusses 'oil buyers club' with China; seeks US crude to counter OPEC

With oil producers' cartel OPEC playing havoc with prices, India discussed with China the possibility of forming an 'oil buyers club' that can negotiate better terms with sellers as well as getting more US crude oil to Asia to cut dominance of the oil block

Saudi Arabia seeks extending cooperation between OPEC and non-OPEC oil producers to shore up crude prices
World

Saudi Arabia seeks extending cooperation between OPEC and non-OPEC oil producers to shore up crude prices

Saudi Arabia's Energy Minister Khaled al-Faleh on Sunday called for extending cooperation between OPEC and non-OPEC oil producers beyond 2018 after a deal to shore up crude prices.

OPEC head Iran says, no urgent need for increased oil output
Politics

OPEC head Iran says, no urgent need for increased oil output

Iran along with African countries and Venezuela, blocked a Saudi-led proposal to increase output targets at OPEC's last meeting, but Saudi Arabia, Kuwait and the UAE boosted output unilaterally afterwards -- a move Tehran criticised.