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Saudi Arabia to hike oil output above 10 million bpd in April after OPEC+ deal collapse
Mon, Mar 09, 2020
Saudi Arabia, the world`s top oil exporter, plans to raise its crude oil production significantly above 10 million barrels per day (bpd) in April, after the collapse of OPEC`s supply cut agreement with Russia, two sources told Reuters on Sunday
Oil Price: OPEC, Russia moving closer to big oil cut as coronavirus hits demand
Wed, Mar 04, 2020
Oil Price: A panel of OPEC and its allies recommended cutting oil output by an extra 1 million barrels per day (bpd) on Tuesday.
Oil prices jump 4% after reports of coronavirus drug breakthrough
Thu, Feb 06, 2020
Oil prices jumped about 4% on Wednesday on media reports that scientists had found a drug breakthrough for the fast-spreading coronavirus, an outbreak that continues to weigh heavily on global economic activity and oil demand
Oil futures rise on talk of further OPEC+ supply curbs
Tue, Dec 03, 2019
Oil eased off session highs as Wall Street dropped after data showed U.S. factory activity contracted in November and after U.S. President Donald Trump unexpectedly announced plans to reimpose tariffs on steel and aluminium from Argentina and Brazil.
OPEC and allies may deepen oil cut deal to 1.6 million bpd - Iraq
Mon, Dec 02, 2019
Iraq will exceed 100% commitment with the supply deal as of Sunday, Ghadhban also said, adding that an agreement capping production from the semi-autonomous Kurdistan region will also help the country`s compliance.
OPEC'S share of Indian oil imports in October hits lowest since 2011
Tue, Nov 19, 2019
OPEC`S share of India`s oil imports fell to 73% in October, its lowest monthly share since at least 2011, tanker data from sources showed.
OPEC cuts 2020 global oil demand forecast, urges effort to avert new glut
Wed, Sep 11, 2019
OPEC, in the report, lowered its forecast for world economic growth in 2020 to 3.1% from 3.2% and said next year`s increase in oil demand would be outpaced by "strong growth" in supply from rival producers such as the United States.
Crude oil prices slip, but supported by hopes US-China trade tensions could ease
Tue, Aug 20, 2019
A rally in equity markets around the world from growing expectations that global economies would take action to counteract slowing growth also supported oil prices, which often follow stocks.
Oil prices rise on European stock draw despite demand slowdown forecast
Sat, Aug 10, 2019
The IEA said global oil demand to May from January grew at its slowest since 2008, hurt by mounting signs of an economic slowdown and a ramping up of the U.S.-China trade war.
Commodity Superfast: Know about action in commodities market, 09th August, 2019
Fri, Aug 09, 2019
This segment of Zee Business brings to you top big news stories related to commodity market. Watch this video to know more.
Oil prices dip on demand worries despite OPEC cut extension till March 2020
Tue, Jul 02, 2019
OPEC is slated to meet with Russia and other producers, an alliance known as OPEC+, later on Tuesday to discuss supply cuts amid surging US output.
OPEC close to reaching an agreement on extending production cuts: UAE Energy Minister
Wed, Jun 12, 2019
Members of the Organization of the Petroleum Exporting Countries are close to reaching an agreement on extending production cuts, the energy minister of the United Arab Emirates said on Tuesday.
WTI Crude: Oil prices stablise on OPEC's withholding supply hopes
Tue, Jun 11, 2019
Oil prices stabilised on Tuesday on expectations that producer group OPEC and its allies will keep withholding supply to prevent prices from tumbling amid a broad economic slowdown.
WTI Crude: Oil Prices rise 1 pct on ease in US-Mexico trade tariff tension
Fri, Jun 07, 2019
Oil prices rose around 1% on Friday to move further away from five-month lows hit earlier in the week, buoyed by a report that Washington could postpone trade tariffs on Mexico.
Oil prices fall amid economic slowdown, despite ongoing OPEC supply cuts
Tue, Jun 04, 2019
Oil prices fell on Tuesday amid a global economic slowdown that is starting to hit oil demand, triggering calls in producer club OPEC for supply cuts to be extended.
Brent oil rises above $70 as OPEC cuts, US sanctions outweigh trade war worries
Tue, May 28, 2019
OPEC and some allies including Russia are due to meet on June 25 and 26 to discuss output policy.
Oil prices stable amid OPEC supply cuts, but US-China trade tensions remain drag
Mon, May 27, 2019
Oil prices were stable on Monday amid ongoing supply cuts by producer club OPEC, although markets remained tense amid concerns the Sino-U.S. trade war could trigger a broad economic slowdown.
Oil prices up on rising Middle East tension, ongoing OPEC supply cut
Tue, May 21, 2019
Oil prices edged up on Tuesday on signs that producer club OPEC will continue withholding supply this year and as tensions between the United States and Iran escalated.
Oil prices pares gains as fears ease on Venezuelan exports
Wed, May 01, 2019
Oil prices pared their gains on Tuesday, after global benchmark Brent crude rose above $73 a barrel, as the market grew less worried that a rebellion against Venezuelan President Nicolas Maduro would hit the country`s crude exports.
Brent down 3 pc; boost output: Donald Trump to OPEC
Sun, Apr 28, 2019
Global oil benchmark Brent fell nearly 3 per cent to $71 a barrel on Saturday after US President Donald Trump asked oil cartel OPEC to boost production and cool off the surging oil prices.