Organization Of The Petroleum Exporting Countries

Crude prices fall 1% on concerns over global economic growth, fears of tension in Middle East disrupting supply routes

Crude prices fall 1% on concerns over global economic growth, fears of tension in Middle East disrupting supply routes

Russia and Saudi Arabia agree to extend OPEC deal aimed at curbing oil production for six to nine months

Russia has agreed with Saudi Arabia to extend by six to nine months a deal with OPEC on reducing oil output, said Russian President Vladimir Putin. Saudi Energy Minister Khalid al-Falih said on Sunday that the deal would most likely be extended by nine months and no deeper reductions were needed. The Organization of the Petroleum Exporting Countries, Russia and other producers, an alliance known as OPEC+, meet on 1 and 2 July to discuss the deal, which involves curbing oil output by 1.2 million barrels per day.

Iran oil minister accuses Donald Trump of 'destabilising' market with tweets targetting OPEC

Iran on Saturday accused US president Donald Trump of destabilising the oil market with his flurry of tweets taking aim at the OPEC cartel.

Rupee hits all time low of 69.01, tracking Asian peers, amid weakening macroeconomic fundamentals

he rupee has shed 7.7 percent so far this year at its record low, making it the worst performing currency in Asia

Crude oil prices fall over 1.5 percent on OPEC's deal to raise output, but markets to remain tight

Prices initially jumped after the OPEC deal was announced late last week as it was not seen boosting supply by as much as some had expected

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

OPEC's April oil output falls to year low as production in Venezuela declines, says survey

OPEC oil output fell in April to a one-year low due to declining production in Venezuela and lower shipments from African producers

Crude oil prices near 2014 highs as Saudi Arabia led-OPEC withholds supply amid strong demand

Oil prices held firm on Friday near three-year highs reached earlier this week as ongoing OPEC-led supply cuts as well as strong demand gradually draw down excess supplies.

Narendra Modi says efforts to artificially distort oil prices are detrimental, calls for responsible pricing

In a subtle message to OPEC, Narendra Modi said efforts to distort oil prices are self-defeating & a global consensus must be built for responsible pricing

India to OPEC: Oil ministry calls for responsible pricing, cut subsidies among producers

Reiterating New Delhi's decade-old demand, Oil Minister Dharmendra Pradhan said OPEC should work towards "responsible price", which would allow major consuming countries to provide energy to the common people