Dec 07, 2016 at 14:01 | Source: Reuters
OPEC agreed last week to reduce output by around 1.2 million barrels per day beginning in January in a bid to reduce global oversupply and prop up oil prices. It hopes non-OPEC countries will contribute a further 600,000 bpd of cuts to the effort. Russia has said it will reduce output by around 300,000 bpd.
Dec 06, 2016 at 14:56 | Source: PTI
The ministry told AFP that Russian Energy Minister Alexander Novak would be taking part in the meeting, which comes after Moscow said it was ready to reduce crude output by 300,000 barrels a day in the first half of 2017.
Dec 06, 2016 at 14:11 | Source: CNBC
Oil output has reached a record high ahead of an OPEC cut deal, Reuters reported. OPEC members are meeting non-OPEC countries, including Russia, later this week to determine details of an output cap.
Dec 05, 2016 at 16:19 | Source: CNBC-TV18
Keen on the Indian growth story, Anil Agarwal, Chairman of Vedanta said that he wants to meet the country's growing demand and aims to produce 50 percent of India's oil needs.
Dec 05, 2016 at 13:28 | Source: PTI
Power Minister Piyush Goyal said the expansion of retail outlets network by oil marketing companies (OMCs) throughout the country is a continuous process to ensure adequate availability of motoring fuels like petrol and diesel in thye upcoming urban as well as rural areas.
Dec 02, 2016 at 14:49 | Source: Moneycontrol.com
Rising oil inventory and stressed financials was the driving force that pushed the Organisation of Petroleum Exporting Countries (OPEC) to see reason in cutting production. The oil industry was literally running out of storage space and had to act fast on cutting production.
Dec 02, 2016 at 14:46 | Source: Reuters
The main price driver was an agreement reached by the Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC oil production giant Russia to cut crude output in order to rein in global oversupply that has dogged markets for more than two years.
Dec 02, 2016 at 11:46 | Source: Moneycontrol.com
According to Achiievers Equities, Crude oil gained as prices were boosted after the Organization of the Petroleum Exporting Countries reached an agreement to cut production.
Dec 02, 2016 at 08:26 | Source: PTI
The marine sector employs 4,800 people in 34 countries, with Norway the most significant with 1,900 workers. The division designs ships and systems, largely for the oil and gas market.
Dec 01, 2016 at 13:48 | Source: CNBC
Investors continue concerned with political uncertainty in Italy ahead of a key referendum on Sunday and its implications on the banking system. The Italian central bank warned Wednesday that the country's top three banks would need to hold further capital against their assets from 2018.