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Canada wildfires: Alberta declared a state of emergency on Saturday in response to wildfires that have displaced nearly 30,000 people.
Published on May 09, 2023 05:44 AM IST
Here are today’s top news, analysis, and opinion. Know all about the latest news and other news updates from Hindustan Times.
The OPEC+ group has agreed to ease oil output by 350,000 barrels per day (bpd) in May, another 350,000 bpd in June, and a further 400,000 bpd or so in July.
Under Thursday's deal, cuts implemented by the OPEC+ would be just above 6.5 million bpd from May, compared with slightly below 7 million bpd in April.
Published on Apr 01, 2021 10:36 PM IST
Reuters | , London, Dubai, Moscow
The increasing economic importance of India’s hinterlands is influencing business expansion plans and accelerating a trend of more service stations being opened in the countryside.
Published on Mar 01, 2021 03:30 PM IST
The real challenge for India’s energy diplomacy is preparing the ground for a post-oil future in a manner that ensures oil markets abet rather than disrupt this larger transition
Brent crude was up 68 cents, or 1.5%, at $45.03 a barrel by 1:43 p.m. EDT (1743 GMT). US West Texas Intermediate crude rose 26 cents, or 0.6%, to $42.60.
Published on Aug 25, 2020 12:03 AM IST
New York |Reuters | Posted by Arpan Rai
Futures lost 3.2% to drop below $39 a barrel, erasing all of the gains from the previous session. US crude inventories unexpectedly rose last week, even as oil production fell, while gasoline stockpiles also saw a surprise expansion.
Published on Jun 11, 2020 11:29 AM IST
The use of LPG brings direct health benefits. Air pollution exposure from biomass cooking fires increases the risk and severity of infection, a harmful situation particularly during the Covid-19 spread
Updated on May 06, 2020 06:50 AM IST
Production cuts have pushed up oil prices, but conditions still favour buyers
The gains extended Friday’s more-than-3% surge after a US air strike in Iraq killed top Iranian commander Qassem Soleimani on Friday. The killing has heightened concerns of a widening Middle East conflict that could disrupt oil supplies from a region that accounts for nearly half of the world’s oil production.
Updated on Jan 06, 2020 05:30 PM IST
The index was dragged down by coal mining which came in at minus 20.5 per cent. The figures for the same month last year stood at 4.3 per cent.
Updated on Oct 31, 2019 06:07 PM IST
New Delhi |Asian News International
The September 14 attacks on the two giant oil facilities in Saudi Arabia caused raging fires and damage that halved the crude output of the world’s top oil exporter, by shutting down 5.7 million barrels per day of production.
Updated on Sep 24, 2019 06:16 AM IST
Energy Minister Prince Abdulaziz bin Salman, who was only appointed to the role earlier this month, said that the world’s top energy exporter had dipped into its strategic reserves to maintain supply to clients.
Updated on Sep 18, 2019 10:38 AM IST
Jeddah |Agence France-Presse
Preliminary investigations showed that Iranian weapons were used in the attack, which knocked out more than half of Saudi Arabia’s oil production and damaged the world’s biggest crude processing plant, the ministry statement said.
Published on Sep 17, 2019 10:22 AM IST
About 50% of Saudi Arabia’s oil production, representing about 5.7 million barrels per day, has been halted for now due, SPA news agency said, citing the kingdom’s Energy Minister Abdulaziz bin Salman
Updated on Jun 30, 2020 12:27 AM IST
Bloomberg |Nayla Razzouk and Javier Blas
Ghawar in Saudi Arabia, the world’s largest conventional oil field, can produce a lot less than almost anyone believed.
Updated on Apr 03, 2019 08:55 AM IST
Oil prices fell 1 percent on Monday after US companies added rigs for the first time this year, a signal that crude output may rise further, and as China, the world’s second-largest oil user, reported additional signs of an economic slowdown.
Updated on Jan 28, 2019 03:33 PM IST
In November 2016, OPEC countries, along with Russia, decided to reduce their crude oil production by around 1.5 million barrels per day (mbd).
Updated on Dec 10, 2018 06:57 PM IST
Hindustan Times, New Delhi |Vineet Sachdev
OPEC members are meeting to agree on their response to recent declines in oil prices, with analysts predicting a cut in production of at least 1 million barrels per day.
Updated on Dec 06, 2018 04:53 PM IST
At the meeting, the Oil Ministry made a presentation showing that 149 smaller fields of Oil and Natural Gas Corp (ONGC), Oil India Ltd (OIL) and other explorers accounted for just 5 per cent of the domestic crude oil production.
Published on Dec 02, 2018 01:37 PM IST
New Delhi |Press Trust of India
Oil production has surged this year. The International Energy Agency expects non-OPEC output alone to rise by 2.3 million bpd this year. Oil demand next year, meanwhile, is expected to grow by 1.3 million bpd.
Published on Nov 23, 2018 07:31 PM IST
Though there is enough oil production, the unique features of marketing in the oil sector have pushed up the oil prices, says Prime Minister Narendra Modi.
Saudi Arabia, which has been pumping around 10 million barrels per day, holds the largest spare capacity in the world and is the only country that can add substantial supply to the market.
Washington has said it wants to pressure Iran to change its behaviour by taking away all revenue Tehran generates from crude sales, part of the confrontational approach adopted by President Donald Trump, who pulled out of the historic nuclear pact in May.
Updated on Jul 03, 2018 08:08 PM IST
Geneva |Agence France-Presse
The US pulled out of the Iran nuclear deal in May and initially said it wanted allies to stop buying Iranian crude entirely. The State Department said Monday it would examine waivers on a “case-by-case basis” as it re-imposes sanctions.
Updated on Jul 03, 2018 05:57 PM IST
Associated Press, Tehran |Associated Press
The preliminary accord allows for an additional 600,000 barrels a day of oil to flow onto the market, about 0.5% of global supply, according to a delegate at the OPEC meet in Vienna. That reflects a 1 million barrel-a-day adjustment on paper to the production cuts.
Updated on Jun 22, 2018 06:34 PM IST
Bloomberg |Golnar Motevalli, Javier Blas and Wael Mahdi
The Joint Ministerial Monitoring Committee, which includes Russia and Saudi Arabia, recommended a supply boost despite the Iranian oil minister walking out of the meeting.
Updated on Jun 22, 2018 04:01 PM IST
Bloomberg |Grant Smith , Elena Mazneva , Annmarie Hordern and Salma El Wardany
Taking care of your hair doesn’t always involve an elaborate ritual. Sometimes, all you need is to master a few basic dos and dont’s. Here they are.
Updated on Jun 14, 2018 10:42 AM IST
Indo Asian News Service, New Delhi |Indo Asian News Service
Oil is near a two-month low after Saudi Arabia and Russia indicated they’re ready to restore production in the second half of this year to offset potential supply disruptions in Iran and Venezuela.
Published on Jun 11, 2018 04:38 PM IST
Bloomberg |Tsuyoshi Inajima and Grant Smith