Russia has no objection to earlier OPEC Plus meeting; Saudi Arabia to extend record cuts till year-end: Report
Algeria, which currently holds the presidency of the the Organization of the Petroleum Exporting Countries (OPEC), has proposed the meeting planned for 9-10 June be brought forward to facilitate oil sales for countries such as Saudi Arabia, Iraq and Kuwait.
Oil prices fall 1% as persistent glut weighs on rates; demand plummets 30%, virus pandemic curtails movement
The coronavirus pandemic has eroded global oil demand even as some governments began to ease lockdowns.
The historic rout in oil markets that sent US crude prices plummeting to as much as minus $40 a barrel is unlikely to translate into any big reduction in petrol and diesel prices in India as domestic pricing is based on the different benchmark, and refineries are already filled up to brim and cannot buy US crude just yet
Oil prices fall a third day; Brent crude heading for worst week since 1991 as plunging demand from virus outbreak grips market
Oil prices were also impacted by record declines in equity markets with Japan’s Nikkei 225 falling by 10 percent on Friday after US markets fell by the most since Black Monday in 1987 on Thursday
Saudi Aramco: From 'Prosperity Well' to energy giant, oil company lands in crisis after persistent attacks; IPO plans suffer setback
From the 1990s, Aramco invested hundreds of billions of dollars in massive expansion projects, raising its oil output capacity to over 12 million bpd, besides making bold international acquisitions and JVs.
OPEC looks to cut oil production to support falling price; key ally Russia likely to agree, say analysts
Experts say this week's meeting of the OPEC will influence the price of oil over the coming months.
The Delhi High Court on Monday sought response of the Centre on Vedanta Ltd's plea challenging its notice to oil marketing companies (OMCs) not to forward to the company its share of the proceeds from sale of petroleum products
OPEC last week agreed to boost oil production after consumers from the US to India and China expressed anxiety over rising prices
Oil prices rose as much as 2 percent as OPEC neared a deal to increase output to compensate for losses in production at a time of rising global demand
OPEC oil output fell in April to a one-year low due to declining production in Venezuela and lower shipments from African producers
Saudi Arabia and Iraq have expressed their commitment to abiding by an agreement to cut oil production that was signed between the Organisation of the Petroleum Exporting Countries (OPEC) and 10 other nations, the media reported on Thursday.
Very few startups make profits in the first two to three years of their operations.
Libya's oil production has fallen, turning back a hard-won increase since April in revenue just as it faces increased fighting in the capital and across Benghazi.
India's GDP is likely to rise by 6.5 percent if the country is self sufficient in crude oil production, PwC India today said in a report.