OPEC+ meeting delayed amidst Saudi discontent, oil prices drop
The eagerly anticipated OPEC+ meeting, initially scheduled for this weekend, has been deferred due to complications.
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Oil prices could rise further this year, but 2024 demand to slow sharply: IEA
IEA and OPEC have moved further apart on 2024 demand growth view
Oil prices rise 2% ahead of OPEC+ summit
The Brent October on the Intercontinental Exchange was trading at $95.54 at 14:15 IST, an increase of 2.71% from its previous close. The price of a barrel of West Texas Intermediate on the NYMEX increased 2.56% to $89.09.
Crude oil prices fall amid concerns that inflation will reduce demand
Global crude oil prices fell on Tuesday after reaching their highest levels in a month the previous session.
Oil prices drop as concerns of impending OPEC+ output cut fade
Against analysts' expectations of a drop of 900,000 barrels, U.S. crude stockpiles decreased by about 5.6 million barrels for the week ended August 19, according to market sources citing American Petroleum Institute figures on Tuesday.
Oil prices increased to about $97 as Saudi Arabia suggested that OPEC (Oil Producers) would reduce output
Tuesday saw a little increase in oil prices after Saudi Arabia indicated that OPEC would reduce output to reverse a recent decline in oil futures.
India’s oil demand expected to surge more than 8% in 2022: Report
The Organization of Petroleum Exporting Countries (OPEC) in its recent monthly oil market report estimated the world’s third-biggest energy buyer to add 0.39 million barrels per day (bpd) of crude oil demand in 2022.
India to release nearly 5 million barrels of crude oil from its reserves
India collects around 38 million barrels of crude oil in underground caverns at three places on the east and west coast. Out of this, nearly 5 million barrels will be released, beginning as early as 7-10 days.
OPEC+ sources state oil output policy will remain steady: Report
According to Reuters, OPEC and its allies are expected to stick to their existing agreement to add 400,000 barrels per day of oil to the market in November.
Petrol prices cut by Rs 10-15 paise across country, Diesel rates also dips
Petrol & diesel prices have been reduced by 13-15 paise across metro cities.
European markets decline by 1% as COVID-19 cases continue to increase
In Asia, Alibaba slid about 3 percent on the MSGI Index.
Crude oil production likely to be boosted as OPEC+ meets on Sunday
A spat between Saudi Arabia and UAE at a meeting earlier this month had foiled an earlier agreement, which is crucial as global oil prices continue to increase.
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