Organisation Of The Petroleum Exporting Countries

India, the world's third biggest oil importer and consumer, relies on overseas supplies for over 80 percent of its oil needs.

OPEC says determined to avoid an 'energy crisis'

The Organisation of the Petroleum Exporting Countries will pursue this policy 'despite current troubles in several of its member countries.'

Crude may hit $45/bbl if OPEC opposes output cut: Jaipuriyar

Many important decisions have to be made at the OPEC meet, like the amount of production cuts to be made and the countries which will be exempt from cuts, says Jaipuriyar.

Crude could hit USD 60 by fourth quarter of FY17: Energy Aspects

Talking about the Organisation of Petroleum Exporting Countries (OPEC) meeting scheduled for June 2, Amrita Sen expects no "fireworks" from it and says that there is a slim chance that all members would agree on a production level.

Oil glut 'may ease' by 2017 as non-cartel supply drops: OPEC

OPEC on May 13 said a global crude glut that has squeezed the market and sent prices plunging over the past year "may be easing" as a result of countries outside the oil producing cartel dropping their production

Oil heads for eighth straight week of falls

US benchmark West Texas Intermediate (WTI) for October delivery, a new contract, lost 49 cents to USD 40.83 a barrel in late-morning trade, while Brent crude for October tumbled 56 cents to USD 46.06 a barrel.

Oil prices languish as supply concerns linger

Oil prices fell in Asia on Monday on persistent concerns about the global supply glut after the OPEC cartel's indication that it will not budge from its current lofty output levels, analysts s

Oil prices down in Asia on Friday

US benchmark West Texas Intermediate for September delivery fell 32 cents to USD 48.20 and Brent crude for September shed 24 cents to USD 53.07 a barrel in afternoon trade. Both contracts tumbled yesterday, snapping two consecutive days of gains.

Oil prices rebound in Asia but crude oversupply weighs

Oil prices rose in Asia on Friday following recent losses but analysts said the rebound is unlikely to be sustained because of a global crude glut.

Oil drops in downbeat start to week

World oil prices fell today after the OPEC crude producers' cartel left its output ceiling unchanged last week in an oversupplied market, dealers said.

Iran deputy oil min says OPEC unlikely to cut output

The Organisation of the Petroleum Exporting Countries (OPEC) is unlikely to implement a production cut at its next meeting in June.

Oil falls as OPEC mulls raising supply target

Oil prices fell on Thursday after a delegate from the Organization of the Petroleum Exporting Countries (OPEC) said the cartel was considering an increase in its supply target in a bid to temper prices.