Vienna/Washington: OPEC Plus, a group which includes the world’s leading fuel-producing countries, has decided to decrease crude oil production by two million barrels per day. This decision is considered to be a significant diplomatic victory for Russia. The United States has strongly reacted to this, and the Biden administration has criticised the announcement as protecting […]
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Washington/ Vienna: A meeting of OPEC, the leading organization of fuel-producing countries, and OPEC Plus, which includes other producing countries, was held on Wednesday. Given the signs of global recession and other factors, a decision may have been taken to cut fuel production in this meeting. However, the United States has started strong efforts to […]
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Vienna: Crude oil prices have once again gone past $100 per barrel after the Organization of the Petroleum Exporting Countries (OPEC) and other oil-producing countries signalled to cut oil production. This is coupled with looming uncertainty over the Iran nuclear deal. Analysts have warned that if OPEC Plus cuts oil production, the oil prices will […]
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Vienna: OPEC+, an organisation of petroleum export countries, has a meeting to agree on increasing oil production from September by 100000 barrels per day. In the last session, for July and August, OPEC + decided to increase oil production by 600000 barrels per day. Hence the latest increase planned for September is relatively minimal compared […]
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Dubai: – Suhail Mohammed Faraj Al Mazroui, Fuel Minister of United Arab Emirates (UAE), asserted that Russia producing 10 million barrels of crude oil per day, is a crucial member of the OPEC Plus and no other country can replace it. Al Mazroui also claimed a need for Russian fuels on the international level and […]
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London/New York – The problems faced by the OPEC member countries in oil production and the harsh winter in the United States has caused the crude oil rates to spurt once again. Prices of Brent crude and the US WTI crude have reached $93 per barrel. Analysts have warned that the crude oil rates will […]
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Washington / Riyadh – The decision to maintain the fuel supply limit was taken at a recent meeting of the OPEC and OPEC Plus groups of fuel-producing countries. As a result, crude oil prices have continued to rise; they have crossed the $80 per barrel mark in the international market. On Friday, the crude oil […]
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Washington/Riyadh: – As fuel prices in the United States continue to rise, the Biden administration has instructed the OPEC group of fuel-producing countries to increase production. However, in its monthly report, OPEC has indicated that it will reject the US demand for increased production. At the same time, the International Energy Agency (IEA) has warned […]
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Riyadh/Dubai – It has been reported that the dispute between Saudi Arabia and United Arab Emirates (UAE) flared up in the OPEC meeting. Because of this dispute, the meeting of OPEC and OPEC Plus members ended without coming to any firm agreement. The repercussions of this dispute in the OPEC meeting were felt in the […]
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New Delhi: Union Petroleum Minister Dharmendra Pradhan appealed to the OPEC countries to invest in India. Pradhan said, ‘The OPEC countries should take cognisance of the changes in the oil and other energy sectors after the Coronavirus crisis. Obstacles have been created in the supply chain due to the Coronavirus crisis in this sector, and […]
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