Page 21 - Opec

India takes up high oil prices with OPEC, producers, demands low rate

India has taken up the issue of high oil prices with producer nations and OPEC, demanding affordable rates, Minister of State for Petroleum and Natural Gas Rameswar Teli told the Lok Sabha on Monday.

Oil prices fall more than 1% after OPEC+ agrees to boost supply

Brent crude was down $1, or 1.4%, at $72.59 a barrel by 0037 GMT, after falling nearly 3% last week

OPEC+ agrees to boost oil output after Saudi Arabia, UAE end standoff

OPEC+ ministers agreed on Sunday to boost oil supply from August to cool prices which have climbed to 2-1/2 year highs as the global economy recovers from the coronavirus pandemic

OPEC+ meets to agree quick oil supply boost to address soaring prices

OPEC+ ministers are meeting on Sunday in another attempt to agree a quick oil supply boost to address soaring prices as the global economy recovers from the coronavirus pandemic

Covid resurgence, OPEC supplies hike could come to India's aid

The increase in Covid cases globally have made the oil market uncertain as it has the potential to erode demand quickly

OPEC+ plans new oil output policy meeting on Sunday, says report

Sunday's meeting will be held virtually as have all such discussions since last year

Crude set for worst week since March on OPEC+ anxiety, shows data

Futures in New York fell 0.6 per cent toward $71 a barrel after closing at the lowest in a month on Thursday

Oil prices up, but remain on track for biggest weekly drop in months

U.S. crude for August rose 42 cents, or 0.6%, to $72.07 a barrel, on track for a 3.4% decline, its largest weekly drop since April.

OPEC sees world oil demand reaching pre-pandemic level in 2022

OPEC stuck to its forecast for a strong recovery in world oil demand in the rest of 2021, predicted oil use would rise further in 2022 similar to pre-pandemic rates, led by growth in China and India.

Oil falls over 1%; extends losses as investors brace for more supplies

Oil prices fell more than 1% on Thursday, extending losses as investors braced for more supplies following a compromise between top OPEC producers and as US fuel stocks rose

Oil prices drop after Saudi Arabia and UAE reach output compromise

Under the compromise with Saudi Arabia, the UAE's baseline production will rise to 3.65 million barrels per day after the current pact expires in April 2022

OPEC+ impasse risks price war as demand surges for oil, says IEA

The IEA said market volatility stoked by the impasse served neither producers nor consumers and that while higher fuel prices could provide an impetus to developing more renewable energy

OPEC+ yet to make progress in resolving impasse preventing deal: Sources

OPEC+ is yet to make progress closing divisions between Saudi Arabia and United Arab Emirates that last week prevented a deal to raise oil output, making another policy meeting this week less likely

Oil prices rise for the second straight day as US inventories decline

US West Texas Intermediate futures were up $1.41, or 1.9 per cent, at $74.35.

Oil mixed as US crude, gasoline inventories draw offset by OPEC+ standoff

Oil prices were mixed after a boost from a drop in US crude and gasoline inventories, but were still set for a weekly decline on concerns that an OPEC+ impasse could swell global crude supplies

Oil prices fall in volatile trade as investors seek OPEC+ clarity

Oil prices fell more than $1 a barrel on Wednesday in another seesaw trading session, as investors feared what this week's collapse in Opec+ talks meant for worldwide production

Oil on the boil

Domestic production of oil and gas has been lagging

Oil rises to $75 after tumble but OPEC+ uncertainty clouds outlook

A failure of OPEC+ talks on Monday means a planned output rise for August has yet to be agreed

Oil price gains threaten central banks' transitory inflation narrative

OPEC+ brinkmanship has taken oil prices towards $80 a barrel, the highest since 2018, threatening to upend central banks' transitory inflation narrative as well as the post-pandemic economic recovery

Oil prices steady after steep drop as market awaits OPEC+ clarity

Brent crude was up 3 cents at $74.56 a barrel by 0115 GMT, after slumping more than 3% on Tuesday. US oil was up 7 cents at $73.44 a barrel, having declined by more than 2% in the previous session