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Morning brief: Saudi, Russia plan to cut oil production. Will it impact India?

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People walk by an oil refinery operated by Bharat Petroleum Corp. Ltd., in Mumbai, India.(Bloomberg)
Published on Apr 12, 2023 08:57 AM IST

Saudi's plan to cut oil production will put burden on India: Energy body

The IEA executive director said India is an energy importer country and the majority of oil consumed in the country is imported.

IEA director Fatih Birol(AP)
Updated on Apr 12, 2023 08:24 AM IST
BySnehashish Roy

How markets behaved in India over 2022-23

The Indian Rupee declined by 8.4% against the US dollar over the last fiscal, followed by Chinese yuan (8.3%), Korean won (7.9%) and Taiwan dollar (7.1%)

The Bombay Stock Exchange in Mumbai. (Bloomberg Photo)
Updated on Apr 07, 2023 03:35 PM IST

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
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