Petroleum Exporting Countries

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.

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.

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.

Oil prices fell on Wednesday, taking a breather from a nearly 4 per cent surge the previous day on receding fears of an imminent output cut by the Organization of the Petroleum Exporting Countries and allies, a group known as OPEC .

OPEC Secretary General, Nigeria's Mohammad Barkindo, has died unexpectedly at the age of 63, it was announced on Wednesday, leaving the oil cartel without a head at a tumultuous time for the markets.

Saudi Arabia and the UAE have been seen as the only two countries in the Organization of the Petroleum Exporting Countries (OPEC) with spare capacity to make up for lost Russian supply and weak output from other member nations.

Saudi Arabia and the UAE have been perceived as the only two countries in the Organization of the Petroleum Exporting Countries (OPEC) with spare capacity to boost global deliveries that could reduce prices.

Country's exports increased 24.18 per cent to $9.39 billion during June 1-7

Country's exports rose by 21.1 per cent to $23.7 billion during May 1-21, on account of healthy growth in various sectors like petroleum products

The market sold off dramatically after the Organization of the Petroleum Exporting Countries and its allies known as OPEC+ issued a bit of a surprise by sticking to plans to boost output monthly by 400,000 barrels per day.

Country's exports in August 2021 touched $52.2 billion, showing 34 per cent jump over last year's corresponding period when it was $38.96 billion.

The Organization of the Petroleum Exporting Countries and their allies, known as OPEC+, reached a compromise on Sunday to increase oil supply from August.

The move follows the Indian government's call to cut dependence on crude from the Middle East in an escalating stand-off between India and Saudi Arabia

Saudi Arabia's reduction in supplies come as the Organization of the Petroleum Exporting Countries (OPEC) and its allies, a group known as OPEC+, decided earlier this month to extend most of its supply cuts into April.

Amid surging fuel prices in the country, Union Petroleum and Natural Gas and Steel Minister Dharmendra Pradhan on Sunday termed "less fuel production by manufacturing countries to gain more profit" as one of the reasons behind the price hike.

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.

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.

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.

Oil prices fell on Wednesday, taking a breather from a nearly 4 per cent surge the previous day on receding fears of an imminent output cut by the Organization of the Petroleum Exporting Countries and allies, a group known as OPEC .

OPEC Secretary General, Nigeria's Mohammad Barkindo, has died unexpectedly at the age of 63, it was announced on Wednesday, leaving the oil cartel without a head at a tumultuous time for the markets.

Saudi Arabia and the UAE have been seen as the only two countries in the Organization of the Petroleum Exporting Countries (OPEC) with spare capacity to make up for lost Russian supply and weak output from other member nations.

Saudi Arabia and the UAE have been perceived as the only two countries in the Organization of the Petroleum Exporting Countries (OPEC) with spare capacity to boost global deliveries that could reduce prices.

Country's exports increased 24.18 per cent to $9.39 billion during June 1-7

Country's exports rose by 21.1 per cent to $23.7 billion during May 1-21, on account of healthy growth in various sectors like petroleum products

The market sold off dramatically after the Organization of the Petroleum Exporting Countries and its allies known as OPEC+ issued a bit of a surprise by sticking to plans to boost output monthly by 400,000 barrels per day.

Country's exports in August 2021 touched $52.2 billion, showing 34 per cent jump over last year's corresponding period when it was $38.96 billion.

The Organization of the Petroleum Exporting Countries and their allies, known as OPEC+, reached a compromise on Sunday to increase oil supply from August.

The move follows the Indian government's call to cut dependence on crude from the Middle East in an escalating stand-off between India and Saudi Arabia

Saudi Arabia's reduction in supplies come as the Organization of the Petroleum Exporting Countries (OPEC) and its allies, a group known as OPEC+, decided earlier this month to extend most of its supply cuts into April.

Amid surging fuel prices in the country, Union Petroleum and Natural Gas and Steel Minister Dharmendra Pradhan on Sunday termed "less fuel production by manufacturing countries to gain more profit" as one of the reasons behind the price hike.