Page 32 - Opec

Oil slips below $40 a barrel on record US crude inventories, Covid-19 fears

Investors are waiting to see if the producers, known as OPEC+, extend their record cut beyond July

India's May oil imports hit lowest since 2011 over drop in demand: Report

In May, India imported 3.18 million barrels per day (bpd) of oil, a decline of about 31% from April and about 26% from a year ago, the data showed

Oil prices reach $42/barrel as OPEC+ laggards pledge better compliance

A premium for oil for immediate delivery usually indicates tightening supply and encourages storage to be drawn down

Oil prices rise as supply cut hopes outweigh Covid-19 resurgence fears

Coronavirus cases rose to more than 8 million worldwide by Monday, with infections surging in Latin America

ONGC seeks crude price assurance of $45 per barrel, cuts capex by 15%

The largest domestic oil and gas producer had budgeted a capex of Rs 32,502 crore for the financial year, which has now been cut to around Rs 27,500 crore.

Oil prices slide on concerns about patchy demand recovery, record US stocks

Brent crude futures fell 2.0%, or 85 cents, to $40.88 a barrel, also giving up gains from Wednesday

Oil slides below $41 a barrel as US inventory rise revives glut worries

Crude stocks rose by 5.7 million barrels in the week to June 5 to 538.1 million barrels, according to a report from the USEnergy Information Administration.

Oil falls over 3% despite OPEC+ cuts as Gulf ends voluntary curbs

The group, known as OPEC+, agreed on Saturday to sustain those cuts, equal to about 10% of global supply, through July

Market Ahead, June 8: Top factors that could guide markets this week

The SGX Nifty is indicating a gap-up open today with the Nifty likely to open at around 10,260 levels on the back of firm global cues

OPEC, Russia to extend record oil cuts until end of July: Draft deal

OPEC+ had initially agreed in April that it would cut supply by 9.7 million barrels per day (bpd) during May-June to prop up prices that collapsed due to the coronavirus crisis.

Opec, Russia meet to extend record oil supply cuts, push for compliance

An extension to cuts was contingent on high compliance, three Opec sources told Reuters

OPEC+ to meet Saturday on extending cuts, push Iraq and Nigeria to comply

The producers known as OPEC+ previously agreed to cut supply by 9.7 million barrels per day (bpd) during May and June to prop up prices which collapsed due to the coronavirus crisis

OPEC+ to discuss output cut on Saturday as oil dips over uncertainty

Brent crude futures were down 8 cents, or 0.2%, at $39.91 a barrel as of 0106 GMT and US WTI crude futures fell 15 cents, or 0.4%, to $37.26 a barrel

Oil hits $40, cools off as doubts emerge over next step on Opec cuts

Saudi Arabia and Russia have a deal to extend the cuts by a month, but a policy meeting on Thursday rather than later in June is unlikely

Oil prices hit nearly three-month high over hopes for output cuts by OPEC+

US West Texas Intermediate crude (WTI) gained 33 cents, or 0.9%, at $37.14, also the highest since March 6

ATF price follows global trend; up 56.5% to Rs 33,575 for June first half

14.2-kg LPG cylinder costlier by Rs 11.5; while ATF prices are revised once in 15 days, LPG prices change on a monthly basis

Oil slides as US crude, gasoline, oil inventories rise more than expected

The decline extended losses from Wednesday on uncertainty about Russia's commitment to deep oil production cuts in the lead-up to a June 9 meeting of OPEC+

Oil at highest since March on lower US inventories, recovering demand

Crude prices have slumped in 2020, with Brent hitting a 21-year low below $16 a barrel in April as demand collapsed

Saudi Aramco plans $75-billion dividend even as profit plunges 25%

Saudi Aramco, the world's most valuable listed company, will pay a dividend of $18.75 billion for the first three months of 2020.

Coronavirus crisis: Texas regulators do not mandate oil production cuts

Global energy demand has tumbled amid coronavirus-related travel and business restrictions and a glut of oil from shale. U.S. crude collapsed to minus $37 a barrel on April 20