Page 2 - Opec Oil

Opec+ agrees to accelerate oil output hike for June despite weak demand

Oil prices fell to a four-year low in April below $60 per barrel after Opec+announced a bigger-than-expected production boost for May

Oil is cheap but still not a bargain as risks loom over market outlook

Oil has dropped 20% to a four-year low since Trump took office-but that still doesn't make it a bargain

Opec+ likely to proceed with planned May oil output hike amid steady prices

Opec+ is a group that includes Opec and allied producers led by Russia, and pumps over 40 per cent of the world's oil. The group is scheduled to raise output by 135,000 barrels per day in May

Opec maintains global oil demand growth forecasts for year 2025, 2026

The Organization of the Petroleum Exporting Countries, in a monthly report, said world oil demand will rise by 1.45 million barrels per day (bpd) in 2025 and by 1.43 million bpd in 2026

Opec+ continues gradual oil output increase, excludes US EIA data sources

The meeting comes after Trump imposed tariffs on Mexico, Canada and China, America's top trading partners, in a move that roiled financial markets and gave oil prices some support

Oil prices waver as markets await clarity on Trump's Canada, Mexico tariffs

Investors are also looking ahead to a ministerial meeting by the Organization of the Petroleum Exporting Countries and its allies, together called Opec+, scheduled for Feb 3

Oil falls as Donald Trump reiterates call for Opec to reduce prices

Opec and its allies including Russia have yet to react to Trump's call, with Opec+ delegates pointing to a plan already in place to start raising oil output from April

Opec's share in India's annual oil imports rises after 8 year drop

India imported 4.84 million barrels per day of oil in 2024, up 4.3% from the previous year, the data showed

Opec cuts forecast for oil demand growth in again due to 'challenges'

In a monthly report, OPEC said it expects 2024 global oil demand to rise by 1.61 million barrels per day (bpd), down from 1.82 million bpd last month

Extension of production cuts by Opec+ won't impact India: Govt officials

Earliest reversal of production cuts pushed back to March 2025 on Thursday

OPEC+ production cuts may support oil prices in near term: Goldman Sachs

OPEC+, which includes members of the OPEC and allies such as Russia, is discussing a further delay to a planned oil output hike that was due to start in January

Crude oil to remain volatile in Samvat 2081 amid OPEC+ production cuts

Brent crude oil prices saw a considerable decline from the beginning of Samvat 2080 (November 12) until October 28, dropping by 12.33 per cent from $82.52 to $72.34 per barre

India's oil demand set to plateau by mid- 2040s: BP Chief Economist

Global oil demand will flatline till 2035 before falling, as Chinese demand slows

China's commodity imports show economy struggling for momentum: Report

China, world's biggest importer of crude, has seen arrivals slump this year, with imports of 10.90 mn bpd in first seven months of year, down 2.9 per cent from 11.22 mn bpd over same period in 2023

Crude oil strategy for June 11: Trend remains weak, WTI eyes support at $76

Oil prices are moving higher after posting three straight weekly declines following Opec+ decision on June 2

US House lawmakers seek antitrust probe of OPEC, other oil companies

Major oil producers appear to be colluding with each other and foreign cartelsto keep prices high, padding their profits at the expense of American consumers, lawmakers said

Further output cut by Opec+ may not affect India's oil supply: Officials

Officials said that temporary fluctuations in oil price as a result of soaring logistics costs and piracy risks may affect Indian oil supplies more

Crude oil prices steady, signal bearish outlook in near term; here's why

Crude oil prices have corrected significantly after posting 16 per cent gains for Q1-2024. However, since April the oil prices have lost roughly 7 per cent of their value, amid the easing of tensions

Shortage of heavy oil spells higher cost for shippers, road builders

Prolonged OPEC supply cuts and international sanctions on Venezuela, Iran and Russia had already led to shortages of heavier crude

US approves Exxon-Pioneer deal, alleges shale founder colluded with Opec

Former Pioneer CEO Scott Sheffield coordinated efforts with U.S. shale oil producers to constrain their output and raise energy prices, the Federal Trade Commission said