Under the deal, non-OPEC countries Russia and Kazakstand can make small production increases
Recalls India's support to oil producing nations when global demand collapsed last May, and OPEC's promise to sustain normal supply when things got better
Retail petrol and diesel prices have been going through the roof
Pradhan said at the CERAWeek conference by IHS Markit that India, where fuel demand is recovering to pre-pandemic levels, would like to rely on reasonable and responsible oil prices
Oil prices gain as US fuel stocks drop, OPEC+ considers deal rollover
OPEC+ ministers hold a full meeting on Thursday
Organization of the Petroleum Exporting Countries and allies, known as OPEC+, has more than 7 million barrels of daily oil output sitting in reserve
OPEC Secretary General Mohammad Barkindo said the outlook for oil demand was looking more positive, particularly in Asia
Brent crude dropped 14 cents or 0.2% to $63.55 a barrel by 1145 GMT, after losing 1.1% the previous day
OPEC Secretary General Mohammad Barkindo said the outlook for oil demand was looking more positive, particularly in Asia
OPEC and other key exporters such as Russia, a grouping dubbed OPEC+, meet on Thursday and are expected to discuss allowing as much as 1.5 million barrels per day (bpd) back into the market
The group meets on Thursday and could discuss allowing as much as 1.5 million barrels per day (bpd) of crude back into the market
At 8.48 pm (IST), Brent crude was trading at $64.65 a barrel, up 0.36 per cent
NEW YORK (Reuters) - Oil prices fell on Friday as the U.S. dollar rose while forecasts called for crude supply to rise in response to prices climbing above pre-pandemic levels.
Brent crude futures for April, which expire on Friday, fell 74 cents, or 1.1%, to $66.14 a barrel
OPEC+ will have an important say in how the oil supercycle plays out. Oil prices are now at a level that could bring at least the smaller US operators back and even start to tempt renewed longer-cycle
LONDON/MOSCOW (Reuters) - OPEC+ oil producers will discuss a modest easing of oil supply curbs from April given a recovery in prices, OPEC+ sources said, although some suggest holding steady for now given the risk of new setbacks in the battle against the pandemic.
Private players struggle against excessive regulation. The result is loss of investment and employment opportunities in India
Oil prices have rallied over recent weeks also as supplies tighten
Brent futures fell 33 cents, or 0.5%, to settle at $61.14 a barrel, while U.S. West Texas Intermediate (WTI) crude fell 44 cents, or 0.8%, to settle at $58.24.