SAUDI OIL
Brent crude crosses $90-mark for the first time in 2023 as Saudi, Russia extend production cut Oil traded near nine-month highs as investors digested a decision by OPEC+ leaders Saudi Arabia and Russia to extend supply curbs through the end of the year. The strategy from Riyadh and Moscow aims to drain inventories further and was felt across ...
06 Sep, 2023, 10.29 PM ISTOil surges on surprise OPEC+ output cut; Vandana Hari of Vanda Insights explains Oil prices soared almost six percent in Asian trade Monday morning after major producers led by Saudi Arabia announced a surprise cut of more than one million barrels per day. Is it desperation by OPEC+ to protect market share amid Russia deals? Van...
03 Apr, 2023, 09.14 AM ISTOPEC+ cuts oil production: US 'will take action' against Saudi Arabia, says Joe Biden President Joe Biden vowed the U.S. "will take action" against Saudi Arabia after the Riyadh-led OPEC+ alliance moved to cut oil production. Biden made the comments as he left the White House for a three-state tour out West. (AP)OPEC+ cuts oil produc...
12 Oct, 2022, 10.09 PM IST
Oil on the boil: Brent crude hits $70 for first time since COVID pandemic began after Saudi attack Oil prices rose Monday as Saudi Arabian oil facilities were targeted by drone strikes just days after the largest crude exporting nations in the world said they would not increase output. Brent crude, the international standard, surpassed $70 per ba...
08 Mar, 2021, 08.01 PM ISTPM Modi interacts with CEOs, experts of global oil and gas sector amid high fuel prices Prime Minister Narendra Modi on Wednesday interacted with CEOs and experts of global oil and gas sector. The meeting was attended by heads of major global oil companies including Saudi Aramco President and CEO Amin Nasser, and Rosneft CEO Igor Sechi...
20 Oct, 2021, 10.13 PM ISTOPEC, allies agree to keep oil production cuts in place, prices jump Members of oil producer cartel OPEC and allied countries have agreed to leave most of their existing oil production cuts in place as the spread of new coronavirus variants prolongs concerns about economic weakness. OPEC countries led by Saudi Arabia...
05 Mar, 2021, 08.14 AM ISTCrude Crashes by most since 1991 as Saudi Arabia launches price war Oil markets crashed more than 31 per cent after the disintegration of the Opec+ alliance triggered an all-out price war between Saudi Arabia and Russia that is likely to have sweeping political and economic consequences.Brent futures suffered the se...
09 Mar, 2020, 08.28 AM ISTOil surges after Opec and allies ink historic deal The world’s top oil producers pulled off a historic deal to cut global petroleum output by nearly a 10th, putting an end to the devastating price war between Saudi Arabia and Russia.After a week-long marathon of bilateral calls and four days of vide...
13 Apr, 2020, 10.06 AM ISTOil prices jumps as attack on Saudi facility disrupts output An attack on Saudi Arabia's largest oil processing plant pushed crude prices sharply higher Monday, though its longer-term impact depends on how long production is disrupted and the attack's future implications.US crude oil jumped $5.61 per barrel, ...
16 Sep, 2019, 03.40 PM ISTReliance to sell 20% stake in oil to chemicals business to Saudi Aramco Reliance Industries (RIL) Chairman Mukesh Ambani on Monday announced a deal with Saudi Aramco, which he termed as India's largest foreign direct investment till date. Reliance to sell 20% stake in oil to chemicals business to Saudi Aramco
12 Aug, 2019, 12.04 PM ISTReliance to sell 20% stake in oil to chemicals business to Saudi Aramco Reliance Industries (RIL) Chairman Mukesh Ambani on Monday announced a deal with Saudi Aramco, which he termed as India's largest foreign direct investment till date. Reliance to sell 20% stake in oil to chemicals business to Saudi Aramco
12 Aug, 2019, 12.03 PM ISTSensex drops 100 pts on oil spike, Nifty slips below 11,000 Benchmark indicies opened lower on Tuesday following the drone attacks on key oil facilities in Saudi Arabia, the world's biggest oil exporter. The S&P BSE Sensex dipped 100 pts to 37,025. Axis Bank, HCL Tech, HDFC, ICICI Bank, and Tech Mahindra wer...
17 Sep, 2019, 09.53 AM ISTQatar to exit Opec amid tension with Saudi Arabia Qatar said it will leave OPEC next month in a move that threatens to fracture the group’s unity just as it tries to maintain a global coalition to control the oil market. Qatar, a member since 1961, is leaving to focus on its natural gas production ...
03 Dec, 2018, 07.13 PM ISTCrude oil price at fresh highs after Saudi Arabia seek hike Oil surged today close to 3.5-year peaks on simmering Mideast tensions and keen US demand, while London stocks rose with drugmaker Shire boosted by a reported takeover move. World oil prices extended yesterday's gains on the back of data showing a d...
19 Apr, 2018, 06.47 PM ISTSaudi purge takes oil to 2 year high Oil reached levels last seen more than two years ago as Saudi Arabian Crown Prince Mohammed bin Salman's anti-corruption drive shook the world's biggest crude exporter just weeks before major producers gather to discuss prolonging historic productio...
07 Nov, 2017, 01.20 PM ISTOPEC meet: Probable outcomes and what's at stake A meeting to be held at OPEC's headquarters in Vienna on June 22 together with non-OPEC member and top producer Russia to discuss changing output policy. As the world keenly eyes the crucial OPEC meet in Vienna on Friday, ET Now's Avanne Dubash tell...
21 Jun, 2018, 01.13 PM ISTTrump slams Opec as crude oil prices near $80 a barrel Trump’s fresh Twitter intervention in the oil market comes before a meeting of ministers from the Organization of Petroleum Exporting Countries and its allies in Algeria on Sunday.Trump slams Opec as crude oil prices near $80 a barrel
21 Sep, 2018, 08.49 AM ISTOil falls to a 5-week low to $76 as Saudi vows to meet the demand Brent crude, the global benchmark, was down 80 cents to $75.64 a barrel at 0930 GMT. It fell earlier to $75.11, the lowest since Aug. 24. While U.S. sanctions on Iran are expected to tighten supplies, other producers, notably top exporter Saudi Arab...
24 Oct, 2018, 10.39 PM ISTBrent oil jumps to four-year high near $81 after OPEC rebuffs Trump Brent oil soared Monday close to $81, reaching the highest level since November 2014 after OPEC and other global producers snubbed pressure from US President Donald Trump to dampen prices. A committee comprised of the Organization of the Petroleum E...
24 Sep, 2018, 05.11 PM ISTSaudi Aramco signs $44 bn deal for refinery complex in Maharashtra Saudi Aramco, the world's biggest oil company, on Wednesday announced a $44-billion deal to build a giant refinery complex in India with three Indian oil majors. The refinery at Ratnagiri in Maharashtra will be handle up to 1.2 million barrels of oi...
12 Apr, 2018, 04.20 PM IST