24 May 17
Oil prices rise as market expects extended output cut led by Opec
01:43 PM
Oil prices rose on Wednesday, supported by a confidence that the Organisation of the Petroleum Exporting Countries (Opec)-led output cut aimed at tightening supply would be extended to all of 2017 and the first quarter of next year.
23 May 17
UAE heads to OPEC, backs oil output cut extension
12:46 PM
The United Arab Emirates supports extending oil output cuts for another term, Energy Minister Suhail bin Mohammed al-Mazroui said on Tuesday, saying ahead of an OPEC meeting he was optimistic about meetings held between Saudi Arabia and Russia.
Stop charging premium from Asian buyers: India to Opec
01:21 AM
India on Monday once again asked Organization of the Petroleum Exporting Countries (Opec) to stop charging the premium from its Asian buyers saying oil producers should not subsidise others at the expense of countries like India.
09 May 17
Oil curbs could extend beyond 2017, says Saudi Arabia
06:17 AM
Saudi Arabia’s oil minister said he’s confident that an agreement by producers to curb crude output and shrink a market glut will be extended into the second half of the year and possibly beyond.
08 May 17
Opec, non-Opec discuss extending supply cut by 9 months or more: Sources
11:07 PM
Organisation of the Petroleum Exporting Countries (Opec) and non-member oil producers are considering extending a global supply cut for nine months or more to avoid a price-sapping output increase in the first quarter of next year, when demand is expected
27 Apr 17
Global oil discoveries fell to record low in 2016, says IEA
02:14 PM
Global oil discoveries fell to a record low in 2016 as companies continued to cut spending and conventional oil projects sanctioned were at the lowest level in more than 70 years, according to the International Energy Agency (IEA), which warned that both
22 Apr 17
Opec recommends 6-month extension of oil output cuts
06:06 AM
An Opec and non-Opec technical committee recommended that producers extend a global deal to cut oil supplies for another six months from June, a source familiar with the matter said, in an effort to clear a glut of crude that has weighed on prices.
21 Apr 17
Oil prices flat in choppy trade, output cut signal
03:19 AM
A gas flare on an oil production platform in the Soroush oil fields is seen alongside an Iranian flag in the Persian Gulf, Iran.
India's crude oil demand to grow by 5% per year till 2020: Study
12:51 AM
The report by S&P Global Platts, released on Thursday, has forecast eight per cent annual gross domestic product (GDP) growth over the next few years.
13 Apr 17
Oil set for longest gain since 2012
02:28 AM
Oil advanced for an eighth day in London, the longest gain since 2012, on speculation Saudi Arabia will support an extension to Opec-led output cuts just as stockpiles show signs of shrinking.
12 Apr 17
OPEC's war on oil overhang starts to bear fruit
02:07 AM
OPEC appears to be slowly winning the battle against a global overhang of crude and oil products as inventories in onshore and floating storage decline.
05 Apr 17
Here's why India decided to cut Iranian oil purchases in row over gas field
07:46 PM
The context to the apparently sudden dispute between India and Iran on oil has much more to do with expected trend in pricing of crude and less to do with the delay on the terms of Farzad B gas field.
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