Opec

Oil producers junk criticism days ahead of COP28 climate summit

COP stands for the Conference of the Parties, where the “parties” stand for 197 states and a regional economic organisation. They gather once a year to discuss plans to limit climate change.

India's import of Russian oil slipped to lowest in 9 months, OPEC's share hit a 10-month high 

India imported on average 1.56 million barrels per day (bpd) of Russian oil in October, up 1.2% from the previous month, the data showed. Despite the increase, Russian oil's share in India's October imports slipped to 33% from 35% in September.

Explained: Why OPEC+ is reducing oil output and what it means for the world

Saudi Arabia, the group's biggest producer, will make a deep cut to its output in July on top of a broader OPEC+ deal to limit supply into 2024 as the group faces flagging oil prices

India's import of Russian crude oil hits record high in May, leaving behind supplies from Saudi, Iraq

Russia has now occupied a larger chunk of India's oil imports, taking the figure to 45 per cent in May. This is the highest share for an individual country in recent years

OPEC's share in India's oil imports falls to all-time low as Russian oil buy peaks

OPEC made up for as much as 90 per cent of all crude oil India imported at one point of time but this has been sliding since Russian oil became available at discount in the aftermath of Moscow's invasion of Ukraine in February last year

Russian crude supplies to India at discounted rates not to be affected by Opec+ oil output cut

OPEC and its allies, including Russia, agreed to widen oil production cuts to 3.66 million bdp or 3.7% of global demand

S&P 500 inches lower as OPEC move stokes inflation fears

Oil jumped roughly 6 per cent after Saudi Arabia and other crude-producing countries said over the weekend they would cut production

Oil producers' cuts could boost gasoline prices, help Russia

Russia is joining in by extending its own cuts for the rest of the year. In theory, less oil flowing to refineries should mean higher gasoline prices for drivers and could boost the inflation hitting the US and Europe

Oil’s Not Well: Why OPEC+ has cut oil production and how it could affect countries

OPEC+, the group of oil producers led by Saudi Arabia, announced a cut of more than one million barrels per day from May until the end of the year. While it said the move was aimed at maintaining stability, many experts believe it is a sign of Riyadh’s independence from Washington

UAE president names son Abu Dhabi crown prince, brothers to top roles

MBZ became ruler of Abu Dhabi and president of the UAE, which groups rulers of the seven emirates of the UAE federation, in May after the death of his half-brother, Sheikh Khalifa bin Zayed, who had ruled Abu Dhabi