Page 15 - Opec

India doubles down on every major Russian oil variety as flows persist

India has a longstanding relationship with Russia that includes weapons buying, and purchasing of oil adds to the Kremlin's coffers while it tackles financial sanctions

Brent crude dips 3.4% to $109.22 as IMF cuts global growth outlook

Brent crude was down $3.94, or 3.4%, to $109.22 a barrel at 1338 GMT, having risen more than $1 to $114.21 earlier in the session

OPEC share of India's oil imports steadies after six-year slump

OPEC's share of India's oil imports for the 2021/22 financial year remained almost flat year on year, arresting sharp declines over the the past six years

Oil prices rise on supply concerns as Russia-Ukraine crisis deepens

Brent futures were up $1.50, or 1.3%, at $113.20 a barrel at 0030 GMT, and U.S. West Texas Intermediate futures rose 98 cents, or 0.9%, to $107.93 a barrel

Russia's Putin, Saudi's bin Salman discuss bilateral ties and oil

The Saudi readout of the call said the crown prince affirmed support for efforts that would lead to a political solution to the crisis in Ukraine

Oil extends gains with falling supplies in focus as Ukraine talks fail

Russian President Vladimir Putin on Tuesday blamed Ukraine for derailing peace talks and said Moscow would not let up on what it calls a 'special operation' to disarm its neighbour

Oil rises as Shanghai eases some Covid curbs, OPEC warns of tight supply

Brent crude futures were up $2.98 or 3.03% to $101.46 a barrel, and U.S. West Texas Intermediate was up $3 or 3.18% to $97.29 a barrel at 0640 GMT. Both contracts had settled down around 4% on Monday.

Oil opens higher as OPEC warns of tight supply and Russian sanctions loom

Brent crude futures were up 85 cents, 0.9%, to $99.33 a barrel, and U.S. West Texas Intermediate contracts were up $1.04, or 1.1%, to $95.33 a barrel at 0019 GMT.

Not possible to replace potential Russian oil supply loss, OPEC tells EU

EU representatives pointed out that OPEC has a responsibility to ensure balanced oil markets

It's not possible to replace potential Russian oil supply loss: OPEC to EU

In the meeting with OPEC, the EU said OPEC could provide more production from its spare capacity, according to an OPEC document seen by Reuters

India supports release of oil from reserves to cool prices: Minister

Oil prices plunged on Thursday on news that the United States was considering releasing up to 180 million barrels from its strategic petroleum reserve (SPR)

OPEC+ ditches IEA data for assessing compliance amid a deepening rift

The Organisation of Petroleum Exporting Countries, and its allies will no longer use oil data from the International Energy Agency to assess compliance with production quotas

OPEC sticks to modest boost in oil despite war jitters

OPEC and allied oil producers including Russia decided to stick to a modest increase in the amount of crude, a step that supports higher prices

OPEC likely to stick to modest oil boost despite war jitters

Analysts expect the group, known as OPEC+, to stay on its schedule of gradual increases to restore production cuts made during the depths of the coronavirus pandemic in 2020

Oil prices rise on tight supplies, stable demand

United Arab Emirates energy minister Suhail al-Mazrouei said on Tuesday that the mission of OPEC+ was to stabilise markets and come up with as much supply as possible

Emerging macro instability

Global economy is reeling from new supply shocks

India's oil imports surge as refiners boost runs to meet demand

Indian refiners typically buy oil two months ahead of processing. Refiners are raising runs to cash in on high margins to offset some of the losses incurred for selling fuels in the local markets.

India's oil demand likely to jump 8% to 5.15 mn barrels per day in 2022

India's oil demand rose from 4.51 million barrels per day in 2020 to 4.76 million bpd in 2021, recording a 5.61 per cent growth

Oil prices slide by about $4 per barrel, extending last week's decline

Oil prices extended last week's decline to fall by about $4 a barrel during early trade on Monday after a US official said Russia was showing signs of willingess to have negotiations over Ukraine

Oil rises but set for weekly loss as traders assess supply disruptions

US President Joe Biden said the G7 industrialized nations will revoke Russia's 'most favored nation' trade status, and announced a US ban on Russian seafood, alcohol and diamonds