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oil output News
ONGC plans to raise oil output by 4 million tonnes by 2020
Sun, Oct 22, 2017
ONGC has drawn a blueprint to raise crude oil production by 4 million tonne (MT) and almost double natural gas output by 2020 to meet Prime Minister Narendra Modi's target of cutting India's import dependence by 10 per cent, Chairman Shashi Shanker has said.
Oil rebounds, as OPEC talks up cutting supply into 2018
Tue, May 09, 2017
Oil prices have been under pressure of late, amid investor concerns the global supply glut is not receding as fast as expected.
Oil markets remain cautious on record supplies
Fri, Apr 21, 2017
Oil opened the last day of a choppy trading week on a cautious note over doubts that an OPEC-led production cut was having the desired effect of restoring balance to a market that has been dogged by oversupply for more than two years.
OPEC, non-OPEC committee recommends extending output cut by six months
Sun, Mar 26, 2017
OPEC and rival oil producers are meeting in Kuwait to review progress with their global pact to cut supplies.
US oil rises after dropping below $50 for first time since December
Fri, Mar 10, 2017
US crude oil prices edged up on Friday for the first time after dropping below $50 per barrel since December in the previous session.
OPEC oil output falls from record high ahead of planned cuts: Reuters survey
Thu, Jan 05, 2017
OPEC`s oil output in December fell from a record high ahead of a deal to cut production, a Reuters survey found on Thursday, helped by attacks on Nigeria`s oil industry and top exporter Saudi Arabia trimming exports.
Oil extends gains on hopes for non-OPEC output cuts
Fri, Dec 09, 2016
Oil prices extended gains on Friday, buoyed by growing optimism that non-OPEC producers might agree to cut output following a cartel agreement to limit production.
Putin, Iran's Rouhani back OPEC bid to stabilise oil prices
Tue, Nov 29, 2016
Russian President Vladimir Putin and his Iranian counterpart Hassan Rouhani on Monday expressed support for OPEC`s plans to limit the cartel`s output ahead of a crucial meeting this week.
Russia aims to keep oil output around current level after OPEC deal
Thu, Sep 29, 2016
Russia is aiming to keep its oil production at near-record levels despite OPEC's decision to modestly reduce its output, Russian Energy Minister Alexander Novak said on Thursday.
Russian oil majors Rosneft, Gazprom Neft raise output of hard-to-recover crude
Mon, Sep 26, 2016
Russian oil majors Rosneft and Gazprom Neft are raising the share of production from hard-to-recover reserves, to counter declining conventional output, showing the complexities facing producer nations seeking to tackle a global oversupply of crude.
Oil edges lower amid scepticism about output freeze
Wed, Sep 07, 2016
Oil prices inched lower on Wednesday as market participants remained sceptical that producers will reach an agreement to freeze output to rein in a global supply glut.
Saudi Arabia, Russia sign oil pact; may freeze output in future
Tue, Sep 06, 2016
Saudi Arabia and Russia agreed on Monday to cooperate in world oil markets, saying they will not act immediately but could limit output in the future, sending prices higher on hopes the two top oil producers would work together to tackle a global glut.