Opec’s output cut to have muted impact
A $10 increase in global crude oil prices shaves off India's GDP by up to 30 bps.
Saudi delivers deeper cuts as OPEC+ oil producers back new pact
Brent oil rose 2 per cent to more than $64 a barrel after the announcement.
Oil on track for weekly gain as OPEC+ set to confirm supply cut
West Texas Intermediate oil futures fell 9 cents to $58.34 a barrel.
OPEC’s oil surprise came as skeptics were doubting price rise
Money managers “didn’t know that this OPEC decision was coming,” Rob Haworth, who helps oversee about $150 billion at U.S. Bank Wealth Management in Seattle, said Friday. “They have yet to price in the OPEC+ decision today.”
OPEC countries, Russia to cut oil output, pushing up prices
The group decided to cut output by an extra 500,000 barrels a day as they try to support the price of energy and bolster their revenues. But the decision was not easy: they do not want to hand over too much business to the United States, which keeps pumping more oil and flooding the market.
Oil steadies after price jump; investors wait on Opec meetings
West Texas Intermediate (WTI) crude futures fell 22 cents, or 0.4 per cent, to $58.21 a barrel.
Saudis offer carrot and stick to get Opec to defend oil prices
The potential reward for complying: Riyadh will lead the way in deepening curbs.
Oil rises, US crude trading near two-month high after OPEC cut
A panel of ministers representing OPEC and non-OPEC producers led by Russia recommended the cuts be made, according to Russian Energy Minister Alexander Novak on Thursday.
Oil companies' shares fall on OPEC output cut buzz
Shares of Indian Oil Corporation were down by 0.23 per cent to Rs 125.70 apiece.
OPEC and allies prepare to deepen oil output cuts
The Organization of the Petroleum Exporting Countries (OPEC) meets on Thursday in Vienna and with Russia and others, a grouping known as OPEC+, on Friday.
Opec and allies agree to deepest oil output cuts in a decade
The oil output cuts of 1.7 million bpd would amount to 1.7 per cent of global supply.
Oil jumps amid hopes for further Opec cuts, China factory growth
West Texas Intermediate (WTI) futures rose 75 cents, or 1.4 per cent, to $55.92 a barrel.
Saudi, Russia win over oil producers to deeper cuts
Benchmark Brent oil prices were steady on Friday near $63 per barrel.
Saudi Aramco prices shares at top of range in world's biggest IPO
Aramco may also exercise a 15% "greenshoe" option, allowing it to increase the size of the deal to a maximum of $29.4 billion.
Oil rises as Saudi Arabia pushes for further supply cuts
US West Texas Intermediate crude was up 25 cents, or 0.5 per cent, at $56.21 a barrel.
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