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Saturday, Dec 10, 2022

OPEC

OPEC NEWS

Saudi, UAE back OPEC cuts as US envoy warns of ''uncertainty''

October 31, 2022 3:06 pm

While cordial, the comments at the Abu Dhabi International Petroleum Exhibition and Conference showed the stark divide between the United States and Gulf Arab countries it supports militarily in the wider Middle East.

Saudi Arabia pushed other OPEC+ nations into oil cut, White House claims

October 14, 2022 6:03 pm

The OPEC+ decision was adopted through consensus, took into account the balance of supply and demand and was aimed at curbing market volatility, the Saudi foreign ministry said in a statement on Thursday.

Saudis say US sought 1 month delay of OPEC+ production cuts

October 14, 2022 9:05 am

A statement issued by the Saudi Foreign Ministry didn't specifically mention the Nov. 8 elections in which US President Joe Biden is trying to maintain his narrow Democratic majority in Congress.

Saudi Arabia says OPEC+ oil cut 'purely economic'

October 13, 2022 10:00 am

The OPEC+ decision was adopted through consensus, took into account the balance of supply and demand and was aimed at curbing market volatility, the Saudi foreign ministry said in a statement on Thursday.

India will buy oil from wherever it has to, says Union Minister Hardeep Singh Puri

October 08, 2022 3:13 pm

This comes two days after the Organization of Petroleum Exporting Countries decided to cut oil production by two million barrels a day

Joe Biden’s choice after OPEC cuts: Woo Saudi Arabia, or retaliate?

October 07, 2022 10:30 am

The announcement by the Saudi-led OPEC+ energy cartel that it would pump 2 million fewer barrels a day was widely seen in Washington as a stab in the back of Biden, who just three months ago jettisoned his vow to make Saudi Arabia a “pariah".

No respite from inflation: OPEC+ decision to cut oil supplies will tighten the market

October 06, 2022 11:04 pm

For oil importing countries like India – the country imports around 80 per cent of its requirements – elevated crude oil prices pose problems at multiple levels. A reversal in prices will increase the cost of oil imports, exerting pressure on the current account deficit. High crude oil prices will also be inflationary

How will OPEC+ cuts affect oil prices, inflation?

October 06, 2022 10:51 pm

The decision by the OPEC+ alliance to cut 2 million barrels a day starting next month comes as the Western allies are trying to cap the oil money flowing into Moscow's war chest after it invaded Ukraine.

What is NOPEC, the US bill to pressure the OPEC+ oil group?

October 06, 2022 6:18 pm

OPEC+, which groups the Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia, on Wednesday agreed to steep production cuts, curbing supply in an already tight market.

UPSC Essentials: One word a day – OPEC+, an international organisation

October 06, 2022 4:21 pm

What is OPEC+? Know about this word often seen in news. Explore beyond the word to briefly understand three related essential questions for prelims or mains. Don't miss the MCQ and Post Read Q&A.

OPEC VIDEOS

Fuel prices at an all-time high: News in Numbers

June 22, 2020 6:17 pm

How the government is explaining the rise in petrol and diesel prices. Take a look in today’s News in Numbers.

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