Page 9 - Opec

Big Russia presence in India Energy Summit indicates stronger ties

The European Union ban on seaborne Russian fuel shipments, coupled with earlier restrictions on the bloc's crude purchases, give more impetus for Moscow to ramp up the flows to India

India will take leading role in oil requirement till 2045: OPEC report

After China driving the initial demand growth, it is going to be India which will take the leading role in crude requirement, along with other Asian and African countries, as per an OPEC report

OPEC+ should get due recognition for constructive role: Secretary General

The main message from the OPEC+ panel that met last Wednesday was that the group would stay the course until the end of the agreement in 2023

Oil prices stable as market awaits Federal Reserve, OPEC decisions

WTI is trading in contango, which means front-month delivery contracts are trading higher than later deliveries, indicating current oversupply

Oil edges up in early trade as US crude inventories rise less than expected

Brent crude futures had risen 12 cents to $86.24 per barrel by 0119 GMT, while U.S. West Texas Intermediate (WTI) crude futures gained 30 cents to $80.45

Crude compulsions in Budget: Oil prices to put pressure on govt finances

Freeing the industry from administrative pricing could be the best way forward

Oil prices up amid forecasts of 2023 demand uptick from OPEC, IEA

Brent crude futures rose 76 cents, or 0.9%, to $81.44 per barrel by 1144 GMT, while U.S. West Texas Intermediate (WTI) crude futures were up 80 cents at $76.19

Oil prices rise after OPEC+ keeps output steady, Russian price cap imposed

At the same time, in a positive sign for fuel demand in the world's top oil importer, more Chinese cities eased COVID-19 curbs over the weekend

OPEC, allied producers' targets remain same amid sanctions against Russia

The Saudi-led OPEC oil cartel and allied producers, including Russia, did not change their targets for shipping oil to the global economy amid uncertainty about the impact of new Western sanctions against Russia that could take significant amounts of oil off the market. The decision at a meeting of oil ministers Sunday comes a day ahead of the planned start of two measures aimed at hitting Russia's oil earnings in response to its invasion of Ukraine. Those are: a European Union boycott of most Russian oil and a price cap of USD 60 per barrel on Russian exports imposed by the EU and the Group of Seven democracies. It is not yet clear how much Russian oil the two sanctions measures could take off the global market, which would tighten supply and drive up prices. The world's No. 2 oil producer has been able to reroute much, but not all, of its former Europe shipments to customers in India, China and Turkey. The impact of the price cap is also up in the air because Russia has said it ..

Oil prices remain steady ahead of OPEC+ meeting, EU Russian oil ban

Brent crude futures were up 14 cents, or 0.2%, at $87.02 per barrel by 1008 GMT. U.S. West Texas Intermediate (WTI) crude futures inched up 5 cents, or 0.1%, to $81.27 per barrel

Oil up over $2 on tighter supply but likelihood of OPEC+ talks limit gains

Brent crude futures rose $2.22, or 2.67% to $85.25 per barrel by 1340 GMT. The more active February Brent crude contract rose by 3.35% to $87.07

As Russia becomes India's premier oil supplier, Saudi is not losing sleep

Despite losing its place to Russia in India, the world's third biggest oil importer, the kingdom is confident it holds the cards for crude supplies in the long term

Oil prices rise as Saudi comments outweigh recession, China Covid concerns

Brent crude rose 37 cents, or 0.4%, to $87.82 by 0915 GMT. U.S. West Texas Intermediate (WTI) crude was up 46 cents, or 0.6%, at $80.50

Oil prices rise after Saudi Arabia denies report of OPEC+ supply increase

Brent crude futures rose 17 cents, or 0.2%, to $87.62 by 0007 GMT. U.S. West Texas Intermediate (WTI) crude futures for January began trading Tuesday, rising 7 cents, or 0.1%, to $80.11 a barrel

Opec cuts oil demand growth forecast again as economic challenges mount

The group, which recently cut production targets, will remain cautious, Saudi Arabia's energy minister was quoted as saying last week

Oil prices drop as coronavirus outbreaks in China dent fuel demand

Brent crude futures dropped by 22 cents, or 0.2%, to $94.45 a barrel at 0025 GMT after falling 1.5% in the previous session

Oil prices fall on China Covid-19 curbs and weak factory activity data

Chinese cities are stepping up zero-Covid curbs as outbreaks widen, dampening hopes of a rebound in demand

Opec raises long-term oil demand view, calls for $12.1 trillion investment

"Oil is expected to remain the number one fuel in the global primary energy mix," the report said

OPEC expected to stick to view of long-term global oil demand rise

Another decade or more of oil demand growth would be a boost for producers and OPEC, whose 13 members depend on oil income, and would justify continued investment in new supplies

Better for Indian policymakers to understand what makes oil prices move

India imports more than 85% of its crude, half of its gas, and 60% of the cooking fuel, and any uptick in rates reduces the purchasing power of Indian households, something that is called inflation