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Mr Putin said he expected the world oil market soon to be balanced.

Vladimir Putin wants oil output cut to continue

Participants are showing confidence about glut erosion.

5 Oct 2017 3:58 AM IST

The oil market is balanced in terms of supply and demand, Qatars Energy Minister Mohammed al-Sada said on Sunday. (Photo: AFP)

Oil market is balanced, says Qatar energy minister

Oil prices have been rising as US sanctions against Iran's crude exports are set to start next month.

8 Oct 2018 10:54 AM IST

The ship, KOTI, was seized at Pyeongtaek-Dangjin port. (Photo: AFP/Representational)

When Iran exports fall after US sanctions, Saudi to open its oil tap

Saudi is only producer with significant spare capacity of around 2 million bpd that can be tapped to compensate loss of...

4 Nov 2018 1:37 PM IST

Members of the Organisation of the Petroleum Exporting Countries (OPEC) are seeking a close balance between supply and demand, Khalid al-Falih said.

Saudi Arabia happy with oil market, won't let another glut form

The world's biggest exporter of oil will not sit by and let another supply glut surface.

11 April 2018 2:49 PM IST

Oil prices fell in early Asian trading on Wednesday . (AFP Photo)

Oil falls amid concerns about second wave of virus, rise in...

Traders shrugged off a further call by Saudi Arabia for larger production cuts to balance the market following a...

13 May 2020 8:29 AM IST

Oil prices dipped on Tuesday on jitters that a rise in coronavirus infections. (AFP Photo)

Oil prices drop as coronavirus infections rise

Production from seven major U.S. shale formations is likely to drop to close to a two-year low of 7.63 million barrels...

16 Jun 2020 9:02 AM IST

Oil prices climbed on Tuesday as the easing of coronavirus lockdown measures across the globe lifted trader hopes for a swift recovery in demand. (APF Photo)

Oil prices rise as easing of lockdown spurs fuel demand

U.S. crude and gasoline inventories are estimated to have fallen by 1.5 million barrels and about 100,000 barrels...

9 Jun 2020 11:37 AM IST

OPEC, Russia and allies agreed on Saturday to extend record oil production cuts until the end of July. (AFP Photo)

OPEC, Russia extend record oil cuts to end of July

OPEC+ also demanded countries such as Nigeria and Iraq to compensate with extra cuts in July to September

7 Jun 2020 8:44 AM IST

Oil rises after surprise drop in U.S. inventories offsets demand concerns. (AFP Photo)

Oil prices inch higher after sharp drop in US crude inventories

Inventories of crude oil in the US dropped by 6.8 million barrels last week to 531 million barrels

29 July 2020 9:12 AM IST

Oil prices fell more than 2% on Tuesday. (AFP Photo)

Oil prices drop on demand recovery fears, OPEC+ easing expectations

The market will be watching next move from OPEC+ whose Joint Monitoring Committee will meet on Wednesday to recommend...

14 July 2020 11:34 AM IST

The booming aviation market has also pushed up the profit margins.

Aviation, OMC stocks surge as crude oil weakens

The BSE benchmark Sensex surged 240.61 points to end at 35,165.48.

28 May 2018 7:51 PM IST

Government is planning to phase out LPG susbidy by March 2018. (Photo: PTI)

LPG price up Rs 2 per cylinder, jet fuel hiked by steep 7 per cent

A household is entitled to 12 cylinders of 14.2-kg each at subsidised rates in a year.

1 Jun 2018 3:48 PM IST