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Saudi Arabia to hike oil output above 10 million bpd in April after OPEC+ deal collapse

Saudi Arabia to hike oil output above 10 million bpd in April after OPEC+ deal collapse

Mon, Mar 09, 2020

Saudi Arabia, the world`s top oil exporter, plans to raise its crude oil production significantly above 10 million barrels per day (bpd) in April, after the collapse of OPEC`s supply cut agreement with Russia, two sources told Reuters on Sunday

Oil Price: OPEC, Russia moving closer to big oil cut as coronavirus hits demand

Oil Price: OPEC, Russia moving closer to big oil cut as coronavirus hits demand

Wed, Mar 04, 2020

Oil Price: A panel of OPEC and its allies recommended cutting oil output by an extra 1 million barrels per day (bpd) on Tuesday.

Oil prices jump 4% after reports of coronavirus drug breakthrough

Oil prices jump 4% after reports of coronavirus drug breakthrough

Thu, Feb 06, 2020

Oil prices jumped about 4% on Wednesday on media reports that scientists had found a drug breakthrough for the fast-spreading coronavirus, an outbreak that continues to weigh heavily on global economic activity and oil demand

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Oil futures rise on talk of further OPEC+ supply curbs

Oil futures rise on talk of further OPEC+ supply curbs

Tue, Dec 03, 2019

Oil eased off session highs as Wall Street dropped after data showed U.S. factory activity contracted in November and after U.S. President Donald Trump unexpectedly announced plans to reimpose tariffs on steel and aluminium from Argentina and Brazil.

OPEC and allies may deepen oil cut deal to 1.6 million bpd - Iraq

OPEC and allies may deepen oil cut deal to 1.6 million bpd - Iraq

Mon, Dec 02, 2019

Iraq will exceed 100% commitment with the supply deal as of Sunday, Ghadhban also said, adding that an agreement capping production from the semi-autonomous Kurdistan region will also help the country`s compliance.

OPEC'S share of Indian oil imports in October hits lowest since 2011

OPEC'S share of Indian oil imports in October hits lowest since 2011

Tue, Nov 19, 2019

OPEC`S share of India`s oil imports fell to 73% in October, its lowest monthly share since at least 2011, tanker data from sources showed.

OPEC cuts 2020 global oil demand forecast, urges effort to avert new glut

OPEC cuts 2020 global oil demand forecast, urges effort to avert new glut

Wed, Sep 11, 2019

OPEC, in the report, lowered its forecast for world economic growth in 2020 to 3.1% from 3.2% and said next year`s increase in oil demand would be outpaced by "strong growth" in supply from rival producers such as the United States.

Crude oil prices slip, but supported by hopes US-China trade tensions could ease

Crude oil prices slip, but supported by hopes US-China trade tensions could ease

Tue, Aug 20, 2019

A rally in equity markets around the world from growing expectations that global economies would take action to counteract slowing growth also supported oil prices, which often follow stocks.

Oil prices rise on European stock draw despite demand slowdown forecast

Oil prices rise on European stock draw despite demand slowdown forecast

Sat, Aug 10, 2019

The IEA said global oil demand to May from January grew at its slowest since 2008, hurt by mounting signs of an economic slowdown and a ramping up of the U.S.-China trade war.

Commodity Superfast: Know about action in commodities market, 09th August, 2019

Commodity Superfast: Know about action in commodities market, 09th August, 2019

Fri, Aug 09, 2019

This segment of Zee Business brings to you top big news stories related to commodity market. Watch this video to know more.

Oil prices dip on demand worries despite OPEC cut extension till March 2020

Oil prices dip on demand worries despite OPEC cut extension till March 2020

Tue, Jul 02, 2019

OPEC is slated to meet with Russia and other producers, an alliance known as OPEC+, later on Tuesday to discuss supply cuts amid surging US output.

OPEC close to reaching an agreement on extending production cuts: UAE Energy Minister

OPEC close to reaching an agreement on extending production cuts: UAE Energy Minister

Wed, Jun 12, 2019

Members of the Organization of the Petroleum Exporting Countries are close to reaching an agreement on extending production cuts, the energy minister of the United Arab Emirates said on Tuesday.

WTI Crude: Oil prices stablise on OPEC's withholding supply hopes

WTI Crude: Oil prices stablise on OPEC's withholding supply hopes

Tue, Jun 11, 2019

Oil prices stabilised on Tuesday on expectations that producer group OPEC and its allies will keep withholding supply to prevent prices from tumbling amid a broad economic slowdown.

WTI Crude: Oil Prices rise 1 pct on ease in US-Mexico trade tariff tension

WTI Crude: Oil Prices rise 1 pct on ease in US-Mexico trade tariff tension

Fri, Jun 07, 2019

Oil prices rose around 1% on Friday to move further away from five-month lows hit earlier in the week, buoyed by a report that Washington could postpone trade tariffs on Mexico.

Oil prices fall amid economic slowdown, despite ongoing OPEC supply cuts

Oil prices fall amid economic slowdown, despite ongoing OPEC supply cuts

Tue, Jun 04, 2019

Oil prices fell on Tuesday amid a global economic slowdown that is starting to hit oil demand, triggering calls in producer club OPEC for supply cuts to be extended.

Brent oil rises above $70 as OPEC cuts, US sanctions outweigh trade war worries

Brent oil rises above $70 as OPEC cuts, US sanctions outweigh trade war worries

Tue, May 28, 2019

OPEC and some allies including Russia are due to meet on June 25 and 26 to discuss output policy.

Oil prices stable amid OPEC supply cuts, but US-China trade tensions remain drag

Oil prices stable amid OPEC supply cuts, but US-China trade tensions remain drag

Mon, May 27, 2019

Oil prices were stable on Monday amid ongoing supply cuts by producer club OPEC, although markets remained tense amid concerns the Sino-U.S. trade war could trigger a broad economic slowdown.

Oil prices up on rising Middle East tension, ongoing OPEC supply cut

Oil prices up on rising Middle East tension, ongoing OPEC supply cut

Tue, May 21, 2019

Oil prices edged up on Tuesday on signs that producer club OPEC will continue withholding supply this year and as tensions between the United States and Iran escalated.

Oil prices pares gains as fears ease on Venezuelan exports

Oil prices pares gains as fears ease on Venezuelan exports

Wed, May 01, 2019

Oil prices pared their gains on Tuesday, after global benchmark Brent crude rose above $73 a barrel, as the market grew less worried that a rebellion against Venezuelan President Nicolas Maduro would hit the country`s crude exports.

Brent down 3 pc; boost output: Donald Trump to OPEC

Brent down 3 pc; boost output: Donald Trump to OPEC

Sun, Apr 28, 2019

Global oil benchmark Brent fell nearly 3 per cent to $71 a barrel on Saturday after US President Donald Trump asked oil cartel OPEC to boost production and cool off the surging oil prices.

Global Markets: Oil price rises on US pressure on India, China to curb Iranian oil imports

Global Markets: Oil price rises on US pressure on India, China to curb Iranian oil imports

Mon, Apr 22, 2019

The United States demanded a cut off of Iranian oil exports to major importers like China and India who had been granted exemptions from sanctions.

Oil prices rise amid supply cuts, economic slowdown looms

Oil prices rise amid supply cuts, economic slowdown looms

Tue, Mar 26, 2019

Oil prices firmed on Tuesday, pushed up by ongoing supply cuts led by producer club OPEC and by U.S. sanctions on Iran and Venezuela, but analysts warned that signs of a sharp economic slowdown could soon drag on crude markets.

Oil slips but holds near 2019 peak as supplies tighten

Oil slips but holds near 2019 peak as supplies tighten

Thu, Mar 21, 2019

Oil edged lower on Thursday but held near 2019 highs, supported by a sharp tightening of global stocks, OPEC production cuts and US sanctions on key producers Iran and Venezuela.

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