OPEC | The Asian Age

Wednesday, Apr 17, 2024 | Last Update : 04:36 AM IST

OPEC Page-7

Brent crude oil futures were trading at $83.24 per barrel at 0228 GMT, up 51 cents, or 0.3 per cent.

Brent crude oil hits four-year high ahead of Iran sanctions

Brent was pushed up by the looming sanctions against Iran, which will start targeting its oil sector from Nov 4.

01 Oct 2018 9:15 AM

Iran's Foreign Affairs Minister Mohammad Javad Zarif met his Indian counterpart, Sushma Swaraj, in New York on the sidelines of United Nations General Assembly. (Photo: AP)

India to continue import of oil from Iran: Iranian foreign minister

Washington is pushing allies to cut Iranian oil imports to zero once the sanctions start on November 4.

28 Sep 2018 10:17 AM

Decisive govt action needed on eco front

There’s no alternative in the immediate future but to curb imports of non-essential goods.

17 Sep 2018 1:25 AM

United States likely surpassed Russia and Saudi Arabia earlier this year to become the world’s largest crude oil producer.

Oil prices claw back on supply concerns though but demand worries drag

Brent crude was up 8 cents, or 0.1 per cent, at $78.26 a barrel by 0338 GMT, after falling 2 per cent on Thursday.

14 Sep 2018 10:51 AM

OPEC and Saudi Arabia do not have an official price target and are unlikely to adopt one formally.

Saudi Arabia aims to keep crude in USD 70 to USD 80 band: sources

Saudi Arabia still wants to keep oil prices as high as possible without offending Washington.

05 Sep 2018 9:41 AM

Brent crude oil LCOc1 was up 30 cents a barrel at $77.44 by 0745 GMT. US light crude CLc1 was 30 cents higher at $69.81.

Oil rises on Iran sanctions, lower US fuel inventories

US commercial crude inventories fell by 2.6 million barrels in the week to August 24, to 405.79 million barrels.

30 Aug 2018 1:49 PM

International Brent crude oil futures were at $75.75 per barrel at 0122 GMT, down 7 cents from their last close.

Oil stable as US-China trade row weighs, Iran sanctions cut supply outlook

OPEC member Iran has exported around 2.5 million barrels per day of crude oil so far this year.

27 Aug 2018 9:17 AM

OPEC exporting on average around 2.5 million barrels per day (bpd) of crude and condensate this year.

Oil prices rise on Iran sanctions, but US-China row mutes trading

Brent crude oil futures LCOc1 were at $75.07 per barrel at 0424 GMT, up 34 cents, or 0.5 per cent.

24 Aug 2018 10:39 AM

US commercial crude oil inventories fell by 5.8 million barrels in the week to August 17 to 408.36 million barrels.

International oil prices slip as trade spat escalates

International benchmark Brent crude oil futures were at $74.63 per barrel.

23 Aug 2018 11:11 AM

Iran produced around 3.65 million barrels per day of crude in July.

Oil prices slip on concerns over slowing economic growth

Brent crude futures, which act as a benchmark for international oil prices, were at $71.60 per barrel.

20 Aug 2018 11:24 AM

The OPEC report said it expected world oil demand to grow by 1.43 million bpd in 2019, down from 1.64 million bpd in 2018.

Oil prices inch up on Saudi output cut, but slowing economic growth drags

Brent crude oil futures LCOc1 were at $72.81 per barrel at 0515 GMT, up 20 cents, or 0.3 per cent.

14 Aug 2018 12:00 PM

WTI crude futures CLc1 were down 10 cents, or 0.15 per cent, at $66.71 per barrel.

Oil dips as US, China trade dispute expected to stall economic growth

US crude oil exports to China, seen as a tool to reduce America’s trade deficit with Asia’s biggest economy.

10 Aug 2018 9:17 AM

The main oil market price drivers of recent months have been output levels by top producers Russia.

Oil rises ahead of renewed US sanctions against Iran

Spot Brent crude oil futures were at $73.88 per barrel at 0241 GMT on Tuesday, up 13 cents, or 0.2 per cent.

07 Aug 2018 10:40 AM

Brent crude futures LCOc1 were down 13 cents, or 0.2 per cent at $73.32 a barrel by 0052.

Oil edges lower as supply concerns return

Oil prices tanked earlier this week when US govt reported that US inventories rose 3.8 mn barrels in prior week.

03 Aug 2018 9:10 AM

WTI futures set to decline 5.9 per cent to, the biggest monthly drop since March 2017.

Oil prices drop on oversupply concerns as OPEC output increased in July

OPEC hiked production by 70,000 barrels per day (bpd) to 32.64 million bpd, the most this year.

31 Jul 2018 10:22 AM

Iran is offering to insure oil cargoes to India after some local insurers stopped providing the service in the face of impending US sanctions, industry sources said, a move that would help Tehran continue supplying its second biggest oil client.

Iran offers India oil cargo insurance, ships to boost sales: sources

IOC is seeking to buy August cargoes from Tehran on similar terms, with Iran responsible for the delivery to Indian ports.

27 Jul 2018 2:26 PM

Organization of the Petroleum Exporting Countries President Suhail al-Mazrouei. (Photo: ANI)

Do not blame OPEC, oil producer group says of Trump criticism

Global oil prices LCOc1 have climbed steadily this year, helped by rising demand, and topped $80 per barrel in May.

10 Jul 2018 10:47 AM

Petrol is being sold in Delhi at Rs.76.36 per litre, as against Rs.76.13 on Sunday, while diesel is being sold at Rs.68.07 per litre, as against Rs. 67.86 on the previous day.

Petrol, diesel prices hiked for fifth consecutive day

In Mumbai, petrol prices have been hiked from Rs. 83.52 on Sunday, to Rs. 83.75 per litre on Monday.

09 Jul 2018 11:13 AM

A key driver of the rise in prices has been the OPEC-Russia deal to cut oil output, compounded by collapsing Venezuelan production and the US decision to end the Iran deal. (Representative image)

Oil prices fall after Trump demands OPEC 'reduce pricing now'

The escalating US-China trade row also cast a shadow over markets, as China warned it could introduce

05 Jul 2018 1:39 PM

Brent crude futures were at $77.70 per barrel at 0250 GMT, down 54 cents, or 0.7 per cent, from their last close.

Oil prices fall as Trump demands OPEC ‘reduce pricing now’

OPEC together with a group of non-OPEC producers led by Russia started to withhold output in 2017 to prop up prices.

05 Jul 2018 9:45 AM

7 of 11

Columns

Skand Tayal