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Crude oil settles lower as Russia downplays additional OPEC+ cuts
Fri, May 26, 2023
Brent crude futures settled down $2.10, or 2.7%, to $76.25 a barrel. U.S. West Texas Intermediate crude (WTI) settled down $2.51, or 3.4%, to $71.83. At their session low, both benchmarks were down by more than $3.
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India's imports from OPEC at all-time low as Russian oil buy peaks
Sun, May 07, 2023
Russia continued to be the single largest supplier of crude oil, which is converted into petrol and diesel at refineries, for a seventh straight month by supplying more than one-third of all oil India imported.
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Crude oil prices decline 1% after scaling multi-month highs on OPEC's demand warning
Fri, Apr 14, 2023
The Organization of the Petroleum Exporting Countries (OPEC) flagged downside risks to summer oil demand in a monthly report on Thursday, highlighting rising inventories and challenges to global growth.
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OPEC+ output cut may lead to higher oil prices, push up India's import bill: IEA
Tue, Apr 11, 2023
Global oil markets were already set to tighten in the second half of 2023, with the potential for a substantial supply deficit to emerge, said Fatih Birol, head of the Paris-based energy watchdog.
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ONGC, Oil India shares rise after OPEC+ surprise action lifts crude oil rates
Mon, Apr 03, 2023
Most energy stocks such as Oil and Natural Gas Corporation (ONGC), Oil India Limited (OIL), Mangalore Refinery & Petrochemicals (MRPL), and Chennai Petroleum Corporation were in demand during Monday's trading session on the exchanges.
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How latest OPEC+ move to cut oil output may impact you: Know what experts have to say
Mon, Apr 03, 2023
Due to the upheaval brought on by the bankruptcy of a Silicon Valley bank and the bailout of Credit Suisse AG, oil prices last month reached a 15-month low. When the financial crisis began to show signs of stabilisation, prices had regained the majority of those losses.
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Commodities Live: Important Meeting Of OPEC+ On December 4; Will There Be A Decision On Reducing Oil Production?
Fri, Dec 02, 2022
There will be an important meeting of OPEC+ countries on December 4. What will happen in OPEC+ meeting? Will there be a decision on reducing oil production? How much price will be fixed for Russian oil? Why world's eyes on this meeting? Watch Commodities Live to know experts opinion.
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Saudi Arabia defends output cut, says OPEC+ doing right job for stable market
Sat, Oct 22, 2022
OPEC+ alliance "is doing the right job", said Saudi Energy Minister Abdulaziz bin Salman here. The minister is on a day-long visit to prepare the ground for Saudi Prime Minister and Crown Prince Mohammed bin Salman's trip to India next month.
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India will buy oil from wherever it wants, no one has told us not to buy from Russia: Petroleum minister Hardeep Singh Puri
Sat, Oct 08, 2022
Oil price rise in India is way below global price hikes, said Union Minister of Petroleum and Natural Gas Hardeep Singh Puri, asserting that no country has told India to stop buying oil from Russia.
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Power Breakfast: Break On 2 Days US Market Rally, Twitter Stocks Sluggish After Jumping 22%, Crude Rises After OPEC+ Meeting
Thu, Oct 06, 2022
The global markets traded mixed, as the US indices pause two days gaining streak to end negative on Wednesday. Dow Jones fell 40 points, Nasdaq, S&P 500 also fell. Twitter shares were sluggish yesterday after jumping 22 per cent on Tuesday on the back of Elon Musk’s claim to buy the social media platform at the previous price. Crude Oil picks up after OPEC+ meeting.
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Commodities Live: Oil Jumps as OPEC+ Mulls Biggest Production Cut Since Pandemic
Mon, Oct 03, 2022
Brent Crude has jumped more than 4% to reach near $89 and WTI Crude has reached nearly $83. The price of crude oil in the domestic market has reached nearly Rs 6,800. OPEC + countries are meeting on October 5 in which a decision can be taken to cut oil production by 5-10 lakh barrels per day.
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Commodities Live: Oil Prices Lose Over 3% On Global Demand Concerns
Tue, Sep 06, 2022
In MCX, Crude fell by 3% to Rs 6,900. Brent Crude fell below $ 93 per barrel and WTI crude fell below $ 86.65 per barrel. Why did crude oil prices fall sharply? What are 7 key points about the OPEC+ decision? Watch Commodities Live to know the expert's opinion.
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Power Breakfast: Slight Gains In Asian Markets, Crude Oil Jumps On OPEC+'s Decision
Tue, Sep 06, 2022
Today there is a slight gains in the Asian market. SGX Nifty is seen trading above 17,700 with gains. China has taken steps to increase Forex Liquidity. Euro, Britain's pound are under pressure. OPEC+'s decision to cut production by 1 lakh barrels per day from October has led to a jump in Crude Oil. Brent Crude is close to $ 95 a barrel and WTI is close to $ 90 a barrel.
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Power Breakfast: Despite Strong Jobs Data US Market Fell Sharply, All Eyes On OPEC Meeting, US Market Will Remain Closed Today
Mon, Sep 05, 2022
US markets will remain closed today. Dow Jones dropped 340 points on Friday, Whereas, the Nifty closed down 1.3 percent. The unemployment rate rose from 3.5% to 3.7% in August. Europe markets are up by 2-3%. SGX Nifty is trading with a fall of 50 points. Today there is meeting of OPEC. Before the OPEC meeting, buying in crude oil was seen from the lower level. Brent rose 1.5% to close at $95 a barrel.
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