Tag Archives: OPEC+

Oil prices rise on slow OPEC oil output increase

SINGAPORE: Oil prices rose on Tuesday as key producer group OPEC undershot its expected pace of output increases last month, while the world’s top oil consumer China ramped up operating rates to meet a spike in diesel demand. Brent crude … Continue reading

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Oil prices fall as industry data shows big build in US inventory

SINGAPORE: Oil prices fell on Wednesday as industry data pointed to a big build in crude oil and distillate stocks in the United States, the world’s largest oil consumer, and as pressure mounted on OPEC to increase supply. Brent crude … Continue reading

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Oil falls after China releases reserves of gasoline, diesel

TOKYO: Oil prices fell on Monday after China said it released reserves of gasoline and diesel to boost supply, while investors unwound long positions ahead of an OPEC+ meeting on Nov. 4. China released reserves of the two fuels to … Continue reading

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Saudi to supply full crude volumes to at least 4 Asia buyers in June: Sources

Saudi Arabia, the world’s top crude oil exporter, will supply full volumes of crude as requested by at least four Asian refiners in June, five people with knowledge of the matter said on Tuesday. The OPEC kingpin started easing supply … Continue reading

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View: The end of Opec is here

By Julian Lee Opec may not survive to celebrate its own 60th birthday later this year. Saudi Arabia’s decision to abandon output restraint and flood the market with cheap crude signals the end for a group dubbed the world’s most … Continue reading

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Is the next big fall in oil coming soon?

By Prathamesh MallyaIn the past three months (June to August), crude oil prices consolidated with the brent trading in the price range of $37 and $46 range. WTI traded in the range of $34-$44, while the MCX crude oil prices … Continue reading

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Oil has longest run of weekly gains since 2015 amid supply pinch

Oil posted the longest stretch of weekly advances since 2015 as OPEC+ producers only modestly supply the market and as U.S. crude supplies shrink. Crude futures rose 1.5% Friday in New York, up for a ninth straight week. President Joe … Continue reading

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Petrol, diesel price hiked for 1st time in more than a month

Petrol and diesel prices were today hiked for the first time in more than a month on the back of rising international rates and weakening rupee. The increase of 16 paisa a litre in petrol and 12 paisa per litre … Continue reading

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India should avoid knee-jerk reaction to oil price hike, says oil minister

Oil Minister Dharmendra Pradhan said Saturday India as a stable economy should avoid any knee-jerk reaction to volatile crude oil prices, indicating no cut in taxes on fuel despite petrol breaching the Rs 80 per litre level in the Capital. … Continue reading

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Iran becomes India’s No. 2 oil supplier, ahead of Saudi Arabia

Iran was the second-biggest oil supplier to Indian state refiners between April and June, India’s oil minister said on Monday, replacing Saudi Arabia as companies took advantage of steeper discounts offered by Tehran. India, Iran’s top oil client after China, … Continue reading

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