Topics: OPEC

Saudi Arabia cabinet asks OPEC+ countries to reduce oil production rate

The cabinet of Saudi Arabia has urged the OPEC+ countries to reduce the rate of oil production to restore balance in global crude markets. Quoting...

Market Analysis: OPEC+ agrees to a historic production cut

OPEC+ agreed to the largest production cut ever of 9.7 mbpd which accounts for 10% of the daily global crude supply. US, Brazil, and...

Market Analysis: Dow ends above 23,000 mark for the first time in a month

The Dow gained 3.4% to close above the 23,000 mark for the first time in a month despite the US seeing the largest number...
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Iran OPEC envoy: "Tehran would back majority decision to cut oil output"

Iran would support a majority decision by members of the Organization of the Petroleum Exporting Countries (OPEC) to cut oil production, the country's OPEC...

Mohammad Barkindo says, “OPEC and its allies are committed to maintain oil market stability beyond 2020”

The Organization of the Petroleum Exporting Countries and its allies are committed to maintaining oil market stability beyond 2020, with physical supplies relatively tight...

Saudi Arabia’s King Salman appoints his son Prince Abdulaziz bin Salman as energy minister

Saudi Arabia's King Salman has appointed his son, Prince Abdulaziz bin Salman, as energy minister on September 8, replacing Khalid al-Falih and for the...
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Crude oil futures gains 0.65 percent on a global trend

Crude oil futures rose by Rs 30 to Rs 4,623 per barrel on Tuesday as speculators created fresh positions, tracking a firm trend at...

“Absolutely not,” says Saudi on changes in oil trading policy in dollars.

Saudi Arabia's Energy Minister Khalid al-Falih said that "there is no change in the Kingdom's long-standing policy." Speaking with the media on Monday, Khalid al-Falih...
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