Dec 01, 2016 10:28 PM IST
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.
- Nov 30, 2016 07:32 PM IST
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.
- Nov 30, 2016 03:39 PM IST
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.
- Nov 30, 2016 03:08 PM IST
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.
- Nov 30, 2016 01:40 PM IST
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.
- Nov 29, 2016 07:33 PM IST
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.
- Nov 29, 2016 03:54 PM IST
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.
- Nov 29, 2016 12:46 PM IST
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.
- Nov 29, 2016 12:27 PM IST
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.
- Nov 29, 2016 08:16 AM IST
Ministers from the Organization of the Petroleum Exporting Countries gather on Wednesday in Vienna.
- Nov 22, 2016 09:37 PM IST
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.
- Nov 22, 2016 07:52 AM IST
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.
- Nov 21, 2016 09:29 AM IST
The options will be consistent with OPEC policy and will bolster the unity of the group, the Journal reported citing Luaibi.
- Nov 18, 2016 02:10 PM IST
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.
- Nov 01, 2016 07:50 AM IST
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.
- Oct 09, 2016 03:13 PM IST
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.
- Aug 24, 2016 01:54 PM IST
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.
- Jul 19, 2016 11:55 AM IST
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.
- Jul 08, 2016 07:28 AM IST
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.
- Jun 03, 2016 08:12 PM IST
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.
- Jun 01, 2016 05:42 PM IST
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.
- May 18, 2016 07:38 AM IST
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.
- May 17, 2016 07:30 PM IST
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.
- May 12, 2016 03:40 PM IST
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.
- Apr 26, 2016 07:56 AM IST
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.