Adani Enterp. 2472.20↑27.15(1.11%)
Adani Ports 739.70↑3.10(0.42%)
Apollo Hospitals 4984.65↑17.35(0.35%)
Asian Paints 3204.35↓-32.90(-1.02%)
Axis Bank 948.80↑22.70(2.45%)
B P C L 357.10↓-2.95(-0.82%)
Bajaj Auto 4700.05↑30.95(0.66%)
Bajaj Finance 7023.95↓0.05(0.00%)
Bajaj Finserv 1462.95↑5.70(0.39%)
Bharti Airtel 834.10↓-2.40(-0.29%)
Britannia Inds. 4695.00↑40.85(0.88%)
Cipla 967.35↑1.50(0.16%)
Coal India 230.70↓-0.20(-0.09%)
Divi's Lab. 3472.00↓-39.60(-1.13%)
Dr Reddy's Labs 4614.90↑4.45(0.10%)
Eicher Motors 3705.00↑5.60(0.15%)
Grasim Inds 1738.00↑27.45(1.60%)
H D F C 2655.40↑9.50(0.36%)
HCL Technologies 1145.50↑8.45(0.74%)
HDFC Bank 1610.20↑3.70(0.23%)
HDFC Life Insur. 577.75↑1.35(0.23%)
Hero Motocorp 2877.95↓-14.70(-0.51%)
Hind. Unilever 2696.25↓-20.45(-0.75%)
Hindalco Inds. 419.60↓-1.15(-0.27%)
ICICI Bank 949.85↑11.70(1.25%)
IndusInd Bank 1296.20↑8.00(0.62%)
Infosys 1308.25↑9.25(0.71%)
ITC 442.90↓-0.50(-0.11%)
JSW Steel 705.75↓-0.85(-0.12%)
Kotak Mah. Bank 1938.00↓-0.75(-0.04%)
Larsen & Toubro 2265.30↑30.75(1.38%)
M & M 1384.65↑43.25(3.22%)
Maruti Suzuki 9625.00↑139.65(1.47%)
Nestle India 21879.95↓-166.50(-0.76%)
NTPC 175.15↑0.60(0.34%)
O N G C 155.60↑0.90(0.58%)
Power Grid Corpn 235.80↑1.20(0.51%)
Reliance Industr 2464.70↑9.50(0.39%)
SBI Life Insuran 1211.45↑8.95(0.74%)
St Bk of India 587.55↑0.35(0.06%)
Sun Pharma.Inds. 1014.60↑15.00(1.50%)
Tata Consumer 793.50↓-2.55(-0.32%)
Tata Motors 547.10↑11.20(2.09%)
Tata Steel 108.45↑0.45(0.42%)
TCS 3311.45↑5.85(0.18%)
Tech Mahindra 1111.40↓-11.70(-1.04%)
Titan Company 2849.35↓-12.30(-0.43%)
UltraTech Cem. 7890.00↑39.35(0.50%)
UPL 686.00↑2.65(0.39%)
Wipro 404.85↓-0.10(-0.02%)

Opec weighs policy shift after US-led crude release pledge

Saudi Arabia, Russia consider pausing planned output hikes

Agencies

Premium

Photo: Bloomberg

3 min read Last Updated : Nov 25 2021 | 11:00 PM IST

Top oil producers Saudi Arabia and Russia are planning to put on hold their recent efforts to provide the world with more crude after Washington and other countries said they would release stored oil to help lower prices, a WSJ report said, attributing the development to people familiar with the discussions.

Riyadh and Moscow have led OPEC and a group of other oil-producing countries in coordinating output closely amid a demand shock last year caused by the pandemic. Other members of that cartel, including the UAE, aren’t convinced a pause is necessary, according to these people, the report stated.

This comes as oil prices steadied on Thursday, as investors eyed how major producers respond to the US-led emergency oil release designed to cool the market and with Organization of the Petroleum Exporting Countries (Opec) expecting the release to swell inventories.