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Oil markets going through 'great fluctuations': OPEC secretary general

OPEC secretary general Haitham Al Ghais said the goal of the OPEC and producers outside the organisation is to maintain market stability.

Oil markets are going through a stage of great fluctuations, OPEC secretary general Haitham Al Ghais said.(Reuters file photo. )
Published on Oct 16, 2022 05:51 PM IST
Reuters |

US says Saudi forced OPEC nations into oil cut amid escalating war of words

The 13-member Organization of the Petroleum Exporting Countries and its allies, which include Russia, lowered their production target by 2 million barrels per day last week.

The United States presented Saudi Arabia with an analysis showing there was no market basis to lower oil production before the OPEC decision to cut output.(REUTERS)
Published on Oct 14, 2022 02:15 PM IST
Reuters | | Posted by Nisha Anand

India asks OPEC to restore oil supply to calm inflation

In a consultation meeting with Mohammed Sanusi Barkindo, OPEC secretary general, Union minister Dharmendra Pradhan flagged concerns over the increasing crude oil prices and its impact on consumers.

Due to a spike in international oil rates, petrol and diesel have become costlier by <span class='webrupee'>₹</span>7.36 and <span class='webrupee'>₹</span>7.57 per litre, respectively, since May 4.(Reuters)
Updated on Jun 25, 2021 06:09 AM IST
ByRajeev Jayaswal, Hindustan Times, New Delhi

India looks at non-Opec options to tame oil prices

India is the world’s third largest crude oil importer after the US and China. Hence oil producers cannot ignore India for long without losing their market share to other competing countries, the officials said

India is witnessing a spike in auto fuel rates due to rising international oil prices.. (AP Photo/Eric Gay, File)(AP)
Published on Jun 21, 2021 07:08 AM IST
ByRajeev Jayaswal, New Delhi

‘Want oil firms to synergise imports for better prices’ says Tarun Kapoor

Tarun Kapoor said the oil producers’ cartel has been artificially raising international oil prices by resorting to output cuts

Benchmark Brent crude, which fell to $19.33 a barrel on April 21, 2020, gradually rose to over $50 per barrel in early 2021(AFP)
Published on Jun 19, 2021 05:59 AM IST
ByRajeev Jayaswal, New Delhi
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