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  • How Putin, Khamenei and Saudi prince got OPEC deal done Dec 01, 2016 10:28 PM IST

    How Putin, Khamenei and Saudi prince got OPEC deal done

    Russian President Vladmir Putin played a crucial role in helping OPEC rivals Iran and Saudi Arabia set aside differences to forge the cartel's first deal with non-OPEC Russia in 15 years.

  • OPEC agrees to cut output by almost 1.2 bpd: Sources Nov 30, 2016 07:32 PM IST

    OPEC agrees to cut output by almost 1.2 bpd: Sources

    Abhishek Deshpande, oil market expert at Natixis says that a cut will be a positive news from the OPEC. A cut, if it actually comes, could also lead to non-OPEC countries cutting output.

  • OPEC deal shows members prioritised market stability: Platts Nov 30, 2016 03:39 PM IST

    OPEC deal shows members prioritised market stability: Platts

    Terming the development, which threatened to be stalemate earlier, as a big step forward, Mriganka Jaipuriyar, Associate Editorial Director of Platts, said the conciliatory tones taken by Iran, Iraq and Saudi Arabia show that market stability is on their minds. This is a positive for the markets, she added.

  • OPEC debates oil cuts amid deep disagreement Nov 30, 2016 03:08 PM IST

    OPEC debates oil cuts amid deep disagreement

    Ministers from the Organization of the Petroleum Exporting Countries met informally at 0700 GMT at the Vienna Park Hyatt hotel and were due to begin a formal gathering at OPEC headquarters at 0900 GMT.

  • OPEC begins debate on oil cuts amid deep disagreement Nov 30, 2016 01:40 PM IST

    OPEC begins debate on oil cuts amid deep disagreement

    Ministers from the Organization of the Petroleum Exporting Countries started an informal meeting at 0700 GMT at the Vienna Park Hyatt hotel and were due to begin a formal gathering at OPEC headquarters at 0900 GMT.

  • OPEC oil cut, if it comes, more face-saver than meaningful: Pros Nov 29, 2016 07:33 PM IST

    OPEC oil cut, if it comes, more face-saver than meaningful: Pros

    The Organization of the Petroleum Exporting Countries said in September it hoped to cut oil output to 32.5-33.0 million barrels per day from a record 33.64 million bpd to reduce a global supply overhang and bolster prices.

  • Iran, Iraq at loggerheads with Saudis ahead of OPEC meeting Nov 29, 2016 03:54 PM IST

    Iran, Iraq at loggerheads with Saudis ahead of OPEC meeting

    OPEC sources told Reuters a meeting of experts in Vienna on Monday failed to bridge differences between OPEC's de facto leader, Saudi Arabia, and the group's second- and third-largest producers over the mechanics of output cuts.

  • Iraq prime minister says his country will cut oil production Nov 29, 2016 12:46 PM IST

    Iraq prime minister says his country will cut oil production

    Al-Abadi's comments could be critical because Iraq along with Iran has been reluctant to go along with cuts, creating an obstacle for an OPEC deal, according to published reports.

  • Oil may rise $10 on a successful OPEC deal: Energy Aspect Nov 29, 2016 12:27 PM IST

    Oil may rise $10 on a successful OPEC deal: Energy Aspect

    Virendra Chauhan, Oil Analyst, Energy Aspects believes if the deal is struck then there could be an initial knee-jerk reaction and crude prices would rise by even USD 10 per barrel but if there is no deal then it could signal a death of OPEC in many ways and oil would sell off.

  • OPEC experts fall short of agreeing on Iran, Iraq oil output Nov 29, 2016 08:16 AM IST

    OPEC experts fall short of agreeing on Iran, Iraq oil output

    Ministers from the Organization of the Petroleum Exporting Countries gather on Wednesday in Vienna.

  • OPEC to debate oil output cut next week but Iraq, Iran hesitate Nov 22, 2016 09:37 PM IST

    OPEC to debate oil output cut next week but Iraq, Iran hesitate

    Three OPEC sources told Reuters a gathering of experts from the oil producer group in Vienna had decided on Tuesday to recommend that a ministerial meeting on Nov. 30 debate a proposal from member Algeria to reduce output by that amount.

  • OPEC experts' meeting makes progress on output talks Nov 22, 2016 07:52 AM IST

    OPEC experts' meeting makes progress on output talks

    The second meeting of the High-Level Committee began at 0930 GMT. The committee is a technical body comprised mainly of OPEC governors and national representatives - officials who report to their respective ministers.

  • Iraq to offer three proposals to implement OPEC production cut Nov 21, 2016 09:29 AM IST

    Iraq to offer three proposals to implement OPEC production cut

    The options will be consistent with OPEC policy and will bolster the unity of the group, the Journal reported citing Luaibi.

  • Iraq's oil contracts make joining OPEC output cut more painful Nov 18, 2016 02:10 PM IST

    Iraq's oil contracts make joining OPEC output cut more painful

    The compensation - stipulated in contracts - would compound the financial hit of losing much-needed revenue from crude sales, if the cash-strapped country were to yield to OPEC entreaties to curtail national production.

  • OPEC oil output hits new record on Nigeria, Libya: Survey Nov 01, 2016 07:50 AM IST

    OPEC oil output hits new record on Nigeria, Libya: Survey

    The rise in output could add to scepticism about OPEC's ability to finalise a plan agreed in September to limit supplies. Oil , which rallied to a 2016 high near USD 54 a barrel following the decision, has since slipped towards USD 48.

  • Iraq's oil minister calls for increasing oil output in 2017 Oct 09, 2016 03:13 PM IST

    Iraq's oil minister calls for increasing oil output in 2017

    Iraqi Oil Minister Jabar al-Luaibi has called on local and foreign companies operating in Iraq to continue increasing oil and natural gas output in 2017, the oil ministry said in a statement released on Sunday.

  • Rice prices to be 14-15% higher than last year: KRBL Aug 24, 2016 01:54 PM IST

    Rice prices to be 14-15% higher than last year: KRBL

    Even if the company does not receive any big order from the government, it will close at minimum growth of 10 percent, says Anil Mittal, CMD of the company.

  • Iraq undercuts Saudi in Q2 to grab top spot in India oil market Jul 19, 2016 11:55 AM IST

    Iraq undercuts Saudi in Q2 to grab top spot in India oil market

    State oil firm Saudi Aramco has traditionally been the main supplier to India and Riyadh could face pressure to deepen crude price cuts to regain market share, particularly ahead of the planned listing of Saudi Aramco.

  • IMF sets $5.3 billion program for Iraq Jul 08, 2016 07:28 AM IST

    IMF sets $5.3 billion program for Iraq

    The International Monetary Fund yesterday said the three-year loan will see USD 634 million immediately allocated to Baghdad, which needs the money to stabilize its balance of payments and ensure it can keep up with its debt obligations.

  • Iran's top leader rules out cooperation with US against IS Jun 03, 2016 08:12 PM IST

    Iran's top leader rules out cooperation with US against IS

    Trusting the US would be "a big mistake," said Supreme Leader Ayatollah Ali Khamenei, insisting that cooperation with America goes "against the independence" of Iran.

  • Crises may strike OPEC‘s weakest members this year Jun 01, 2016 05:42 PM IST

    Crises may strike OPEC‘s weakest members this year

    2016 maybe the "year of reckoning" for some OPEC member countries, RBC Capital Markets warned on Tuesday, ahead of the oil cartel's meeting in Vienna this week.

  • Wave of bombings in Baghdad kill 69 May 18, 2016 07:38 AM IST

    Wave of bombings in Baghdad kill 69

    The four separate bombings were a further challenge to the beleaguered government of Prime Minister Haider al-Abadi, who is struggling to prove that his forces can maintain security in Baghdad and elsewhere.

  • India 12th top foreign holder of US govt bonds May 17, 2016 07:30 PM IST

    India 12th top foreign holder of US govt bonds

    India is the 12th largest foreign holder of the US government securities with exposure to the tune of $118.9 billion as on March-end.

  • Iraq overtakes Saudi Arabia as biggest Indian exporter for April May 12, 2016 03:40 PM IST

    Iraq overtakes Saudi Arabia as biggest Indian exporter for April

    Saudi Arabia also lost its top spot in China, Asia's biggest oil consumer, last month when Russia overtook the world's biggest crude exporter due to strong purchases by Chinese independent refineries.

  • Obama boosts Islamic State fight, asks Europe to do the same Apr 26, 2016 07:56 AM IST

    Obama boosts Islamic State fight, asks Europe to do the same

    Obama's announcement of the American troops, which capped a six-day tour to the Middle East and Europe, reflected a steady deepening of US military engagement, despite the president's professed reluctance to dive further into another Middle East conflict.

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