Oil prices down 2% as China widens COVID curbs NEW YORK: Oil prices slid about 2% on Friday after top crude importer China widened its COVID-19 curbs, though the... Updated 28 Oct, 2022 08:57pm
Print Turkey says not right for US to pressure Saudi Arabia ISTANBUL: Turkish Foreign Minister Mevlut Cavusoglu said on Friday it was not right for the United States to ... Updated 22 Oct, 2022 09:45am
Markets Turkey says not right for US to pressure Saudi Arabia over oil output ISTANBUL: Turkish Foreign Minister Mevlut Cavusoglu said on Friday it was not right for the United States to... Published 21 Oct, 2022 06:31pm
Opinion Over a barrel, Biden faces tough options with Saudis Joe Biden has vowed consequences for Saudi Arabia over its explosive slash in oil output but, like previous US... Published 18 Oct, 2022 06:02am
Markets OPEC cuts 2022, 2023 oil demand growth view as economy slows LONDON: OPEC on Wednesday cut its 2022 forecast for growth in world oil demand for a fourth time since April and... Published 12 Oct, 2022 05:52pm
Markets OPEC+ supply cuts loom over already tight oil market LONDON/GENEVA: OPEC+ producers look set to cut output when they meet on Wednesday, squeezing supply in an oil market... Published 04 Oct, 2022 07:01pm
Markets OPEC+ mulls largest cuts since 2020 pandemic crisis LONDON: The OPEC+ group of oil producers is discussing output cuts of more than 1 million barrels per day (bpd),... Published 03 Oct, 2022 05:20pm
Markets India's future crude oil supplies will mostly come from Gulf: oil minister MILAN: India's minister of petroleum and natural gas, Hardeep Singh Puri, said most of his country's crude oil... Updated 06 Sep, 2022 12:27pm
Markets Oil falls as demand fears return after OPEC-led rally LONDON: Oil fell on Tuesday after a two-day rally as concern returned about weaker demand and the prospect of more... Updated 06 Sep, 2022 07:15pm
Markets Russian oil cap will be ‘source of uncertainty’: Moscow MOSCOW: A plan by the G7 nations to cap Russian oil prices in the wake of Moscow’s military operations in Ukraine... Published 05 Sep, 2022 10:01pm
Markets OPEC+ agrees oil output cut to prop up prices VIENNA: The OPEC+ oil cartel agreed Monday to cut production for the first time in more than a year as it seeks to... Published 05 Sep, 2022 06:07pm
Markets With Iran deal looming, OPEC+ weighs oil cuts DUBAI: Potential OPEC+ production cuts mooted this week by Saudi Arabia may not be imminent and are likely to... Published 23 Aug, 2022 08:35pm
Markets OPEC+ might have to raise oil output so market doesn’t overheat, Kazakhstan says NUR-SULTAN/LONDON: OPEC+ might have to raise oil production to avoid market overheating, OPEC+ member Kazakhstan... Published 03 Aug, 2022 05:24pm
Markets OPEC+ to weigh holding oil output steady or small hike, sources say LONDON: OPEC and its allies will consider keeping oil output unchanged for September when they meet next week,... Published 28 Jul, 2022 09:21pm
Markets Iraq can boost oil output by 200,000 bpd this year if asked: BOC BASRA: Iraq has the capacity to increase its oil production by 200,000 barrel per day (bpd) this year if asked, an... Published 22 Jul, 2022 09:55pm
World Biden says will see Saudi crown prince, won't push directly on oil MADRID: US President Joe Biden said on Thursday he would see Saudi Arabia's king and crown prince during a visit to... Published 30 Jun, 2022 07:27pm
Markets Oil falls 2% on uncertainty over future OPEC+ output, recession fears NEW YORK: Oil prices sank about 2% on Thursday as OPEC+ confirmed it would only increase output in August as much as... Updated 30 Jun, 2022 09:08pm
Markets OPEC+ meets with little prospect of pumping more oil LONDON: OPEC and OPEC+ began two days of meetings on Wednesday with sources saying a big policy change was unlikely... Published 29 Jun, 2022 08:51pm
Markets OPEC+ crude oil output boost undershoots targets in May LONDON: OPEC+ produced 2.695 million barrels per day below its crude oil targets in May because of production... Published 16 Jun, 2022 05:26pm
Print OPEC+ brings forward oil output rises as Biden’s Saudi visit looms DUBAI/LONDON/RIYADH: Saudi Arabia and other OPEC+ states agreed to bring forward oil production rises to offset... Published 03 Jun, 2022 05:56am
Markets US oil output rises 3% in March to highest since November: EIA NEW YORK: US crude oil production rose in March by more than 3% to the highest since November, according to a... Published 31 May, 2022 09:25pm
Markets OPEC’s May oil-output boost hits target on Nigeria rebound-survey LONDON: The increase in OPEC oil output in May exceeded the rise planned under a deal with allies for the first time... Published 31 May, 2022 08:34pm
Markets Russian oil output slightly up at 10.17mn bpd, TASS reports Russia raised oil production slightly to 10.17 million barrels per day (bpd) between May 1 and 29, TASS news agency... Published 30 May, 2022 05:20pm
Markets OPEC authorises Iraq to increase output to 4.5mn bpd from June Iraq's representative at OPEC said the organisation had agreed to the country increasing its output to 4.5 million... Published 14 May, 2022 07:35pm
Markets OPEC+ likely to stick to existing deal and raise June output LONDON/DUBAI: OPEC+ is likely to stick to its existing deal and agree another small output increase for June when it... Published 28 Apr, 2022 06:07pm
Markets IEA countries to tap 60mn barrels of oil on top of US release WASHINGTONG: Member countries of the International Energy Agency besides the United States have agreed to release 60... Published 06 Apr, 2022 09:35pm
Markets Kazakhstan cuts 2022 oil output outlook to 85.7mn t NUR-SULTAN: Kazakhstan has cut its oil output forecast to 85.7 million tonnes this year from the previous target of... Published 05 Apr, 2022 10:05am
Markets OPEC+ sticks to modest oil output increase despite Western pressure VIENNA: The OPEC group of oil producing countries and its Russia-led allies agreed on another modest oil output... Published 31 Mar, 2022 06:28pm
Markets Iran says ready to raise oil output once sanctions lifted TEHRAN: Oil-rich Iran says it is ready to step up its crude exports once US sanctions are lifted if talks to revive... Published 03 Mar, 2022 07:40pm
Markets 'Not our war': Gulf states resist pressure to raise oil output Gulf countries, which had suffered from declines in oil prices since 2014, now seem all the more reluctant to take immediate action as they benefit from the short-term price surge Published 03 Mar, 2022 05:40pm