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Brent Crude Oil Price Falls Below $80 For First Time Since February
Brent crude oil prices fell to below $80 a barrel on Monday for the first time since February, after an OPEC+ meeting in which members agreed that countries could starting phasing out voluntary output cuts starting in October.
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"India To Keep Diversifying Oil Supply": Minister Amid Red Sea Attacks
Supply cuts by OPEC , costly shipments from some traditional Middle East suppliers and geopolitical tension is driving India, the world's third biggest oil importer, to diversify its crude sources and accelerate its energy transition
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Resistance To COP28 Plegde To Phase Out Fossil Fuels After OPEC Pushback
Some countries are resisting a pledge to phase-out fossil fuels in a COP28 climate deal, jeopardising attempts for UN climate talks to deliver a hard commitment for the first time in 30 years on ending the use of oil and gas.
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Putin, Saudi Prince Urge OPEC+ Powers To Join Oil Cuts For Economy
Saudi Arabia and Russia, the world's two biggest oil exporters, on Thursday called for all OPEC+ members to join an agreement on output cuts for the good of the global economy just days after a fractious meeting of the producers' club.
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Brazil Set To Join OPEC From Next Year
Major producer Brazil will join OPEC+ from next year, the oil cartel announced on Thursday.
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India To Buy Venezuelan Oil? What Minister Said
Indian refiners can process Venezuelan oil and the nation may buy it provided that it is available cheaply, Oil Minister Hardeep Singh Puri said on Wednesday, days after the US temporarily lifted sanctions on OPEC member Venezuela's oil sector.
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Explained: Why Is OPEC Cutting Crude Oil Output
The Organization of the Petroleum Exporting Countries and allies including Russia, a group known as OPEC+ which pumps around 40% of the world's crude, agreed on a new oil output deal on Sunday.
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Saudi Arabia Announces Fresh Output Cut To Boost Oil Price
Riyadh on Sunday announced it would slash output further by one million barrels per day in a bid to prop up prices, despite fears of a recession.
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India's OPEC Imports At All-Time Low As Russian Oil Provides Alternative
Oil producers cartel OPEC's share in India's oil imports fell to an all-time low of 46 per cent in April as purchases of cheaper Russian oil peaked, industry data showed.
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Russian Oil Imports Cut OPEC's Share Of Indian Market To 22-Year Low
OPEC's share of India's oil imports fell at the fastest pace in 2022/23 to the lowest in at least 22 years, as intake of cheaper Russian oil surged, data obtained
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Nirmala Sitharaman Speaks On Adani Row, Jobs, Oil And Crypto
Finance Minister Nirmala Sitharaman said India could buy Russian crude oil near or past the price cap imposed by the G-7 if the recent OPEC+ output cut increases energy costs.
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Recession Odds, Inflation Fears Jump as US-Saudi Oil Pact Breaks Down
Just three years ago, when OPEC+ oil giants fell out, the US found itself playing the role of peacemaker. Now it looks more like their target.
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Russia To Slash Crude Oil Output By 5% Over West's Price Cap
Russia will slash its crude oil output by five percent next month, Deputy Prime Minister Alexander Novak announced Friday, in response to a price cap imposed by Western countries.
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Relationship With India Is Solid: OPEC Secretary General
OPEC Secretary General Haitham Al Ghais said that most OPEC countries have very strong and historical ties with India and OPEC stands ready to continue supplying India with its requirements of oil.
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Oil Producers Likely To Stick To View Of Long-Term Oil Demand Rise
OPEC's view that world oil demand will keep rising for longer than many other forecasters predict is not expected to change much in its forthcoming major report, despite the growing role of renewables and electric cars.
-
Brent Crude Oil Price Falls Below $80 For First Time Since February
Brent crude oil prices fell to below $80 a barrel on Monday for the first time since February, after an OPEC+ meeting in which members agreed that countries could starting phasing out voluntary output cuts starting in October.
-
"India To Keep Diversifying Oil Supply": Minister Amid Red Sea Attacks
Supply cuts by OPEC , costly shipments from some traditional Middle East suppliers and geopolitical tension is driving India, the world's third biggest oil importer, to diversify its crude sources and accelerate its energy transition
-
Resistance To COP28 Plegde To Phase Out Fossil Fuels After OPEC Pushback
Some countries are resisting a pledge to phase-out fossil fuels in a COP28 climate deal, jeopardising attempts for UN climate talks to deliver a hard commitment for the first time in 30 years on ending the use of oil and gas.
-
Putin, Saudi Prince Urge OPEC+ Powers To Join Oil Cuts For Economy
Saudi Arabia and Russia, the world's two biggest oil exporters, on Thursday called for all OPEC+ members to join an agreement on output cuts for the good of the global economy just days after a fractious meeting of the producers' club.
-
Brazil Set To Join OPEC From Next Year
Major producer Brazil will join OPEC+ from next year, the oil cartel announced on Thursday.
-
India To Buy Venezuelan Oil? What Minister Said
Indian refiners can process Venezuelan oil and the nation may buy it provided that it is available cheaply, Oil Minister Hardeep Singh Puri said on Wednesday, days after the US temporarily lifted sanctions on OPEC member Venezuela's oil sector.
-
Explained: Why Is OPEC Cutting Crude Oil Output
The Organization of the Petroleum Exporting Countries and allies including Russia, a group known as OPEC+ which pumps around 40% of the world's crude, agreed on a new oil output deal on Sunday.
-
Saudi Arabia Announces Fresh Output Cut To Boost Oil Price
Riyadh on Sunday announced it would slash output further by one million barrels per day in a bid to prop up prices, despite fears of a recession.
-
India's OPEC Imports At All-Time Low As Russian Oil Provides Alternative
Oil producers cartel OPEC's share in India's oil imports fell to an all-time low of 46 per cent in April as purchases of cheaper Russian oil peaked, industry data showed.
-
Russian Oil Imports Cut OPEC's Share Of Indian Market To 22-Year Low
OPEC's share of India's oil imports fell at the fastest pace in 2022/23 to the lowest in at least 22 years, as intake of cheaper Russian oil surged, data obtained
-
Nirmala Sitharaman Speaks On Adani Row, Jobs, Oil And Crypto
Finance Minister Nirmala Sitharaman said India could buy Russian crude oil near or past the price cap imposed by the G-7 if the recent OPEC+ output cut increases energy costs.
-
Recession Odds, Inflation Fears Jump as US-Saudi Oil Pact Breaks Down
Just three years ago, when OPEC+ oil giants fell out, the US found itself playing the role of peacemaker. Now it looks more like their target.
-
Russia To Slash Crude Oil Output By 5% Over West's Price Cap
Russia will slash its crude oil output by five percent next month, Deputy Prime Minister Alexander Novak announced Friday, in response to a price cap imposed by Western countries.
-
Relationship With India Is Solid: OPEC Secretary General
OPEC Secretary General Haitham Al Ghais said that most OPEC countries have very strong and historical ties with India and OPEC stands ready to continue supplying India with its requirements of oil.
-
Oil Producers Likely To Stick To View Of Long-Term Oil Demand Rise
OPEC's view that world oil demand will keep rising for longer than many other forecasters predict is not expected to change much in its forthcoming major report, despite the growing role of renewables and electric cars.
