Page 13 - Opec

Asia's thirst for cheap Russian oil hits Opec's No 2 producer Iraq

The Iraqi grades are an outlier in Asia, where robust demand led to an earlier-than-usual start of the trading cycle for physical crude buying

India faces near-term challenges; better placed to deal with them: FinMin

India's medium-term growth prospects remain bright as pent-up capacity expansion in the private sector is expected to drive capital formation, employment generation in rest of this decade, says report

OPEC keeps forecast for 2022 oil demand to exceed pre-Covid levels

OPEC leaves 2022 oil demand growth forecast at 3.36 mbpd, cuts 2022 Russian output forecast, leaves US shale steady

OPEC delegates see global oil demand growth slowing in 2023: Report

High crude prices have eaten into growth projections for 2022 and fed into expectations for slower growth in 2023.

Saudi Arabia cuts oil flows to China while meeting other requests

State-run marketer Saudi Aramco typically doesn't provide buyers with a reason why volumes are cut

G7 calls on Opec to play key role to ease global energy supplies

Opec and its allies, a group known as Opec+, has so far rebuffed Western calls for a faster increase in oil production to lower surging prices

Global stocks shaky as hawkish Reserve Bank of Australia heightens worries

Reserve Bank of Australia raised rates by most in 22 years and flagged more tightening to come as it battles to restrain surging inflation, driving a brief spike in the Aussie and hitting local shares

Oil tops $120 a barrel on Saudi raising prices despite OPEC+ deal

US West Texas Intermediate (WTI) crude futures rose 8 cents, or 0.1%, to $118.95 a barrel after hitting a three-month high of $120.99. The benchmark fell by $1 earlier in the session.

Global stocks, dollar firm ahead of rate meetings, crude hits $120

The European Central Bank meets on Thursday, though it is not expected to begin raising interest rates until July, with rate setters at the US Federal Reserve and Bank of England gathering next week

What should investors keep in mind as RBI MPC meets?

Ahead of the RBI's policy decision, OPEC+ decided to increase the size of its oil-supply hikes by about 50%. Our next report talks about these macro concerns and how investors should trade.

Oil prices gain slightly after Opec+ agrees to increase production

U.S. crude was heading for a sixth weekly gain on tight U.S.supply, which has prompted talk of fuel export curbs or a windfall tax on oil and gas producers

Oil prices steady on doubts OPEC+ hike can make up Russian deficit

Oil prices were roughly unchanged on Friday, clinging to gains made in the previous session

OPEC+ brings forward oil output rises as Joe Biden's Saudi visit looms

US President Biden's looming visit to Saudi Arabia seen as trigger for decision

Oil prices rise after US crude inventories drawdowns, supply tightness

US crude oil stockpiles fell last week by 5.1 million barrels to 414.7 million barrels, compared with analysts' expectations in a Reuters poll for a 1.3 million-barrel drop.

Oil little changed after OPEC-plus agrees to boost output by 648,000 bpd

Oil prices could get more support later on Thursday if analysts' forecasts are correct that US crude inventories declined by around 1.4 million barrels last week

US pump prices at record high as OPEC+ producers gather for meeting

The OPEC oil cartel and allied countries including major exporter Russia are weighing how much oil to produce as U.S. gasoline prices hit another record high. Thursday's meeting comes amid speculation that the 23-member alliance, known as OPEC+, may consider breaking from its cautious series of increases and agree to pump more oil starting in July amid fears that high energy prices could slow the global economy. Higher oil and gas prices have contributed to the inflation that is plaguing the U.S. and Europe and sapping consumer purchasing power. The group has been adding a steady 432,000 barrels per day each month, under a road map to gradually restore production cuts made during the depths of the pandemic recession in 2020. OPEC, whose de facto leader is Saudi Arabia, has thus far taken the stance that it can't supply more oil to make up for production lost due to sanctions against Russia. That, along with a European Union agreement to end most oil imports from Russia over its ...

Oil prices fall on prospect of OPEC offsetting Russian crude output loss

Brent crude was down $2.07, or 1.8%, at $114.22 a barrel at 0649 GMT, having risen 0.6% the previous day.

World shares steady as oil drops on Saudi Arabia's talk of output boost

Derivative markets pointed to a positive start later in the United States following losses on Wednesday when economic data failed to ease angst over rate hikes to fight inflation.

Oil skids $3 a barrel as investors take profits ahead of Opec+ meeting

The benchmarks have marched higher for several weeks as Russian exports are being squeezed by EU and US sanctions

Russia likely to get suspended by Opec from oil-production deal

Moscow shuts gas supply to Denmark