OPEC

Timelines
Excise duty on petrol, diesel hiked Rs. 3 per liter

14 Mar 2020

Excise duty on petrol, diesel hiked Rs. 3 per liter

The government on Friday announced an increase in excise duty on petrol and diesel by Rs. 3 per liter, the steepest hike in eight years.

Petrol, diesel prices fall; check new rates here

09 Mar 2020

Petrol, diesel prices fall; check new rates here

The prices of petrol and diesel fell for the fifth consecutive day on Monday as the global coronavirus outbreak had a ripple effect on crude oil rates.

Oil plunges 30% as Saudis begin price war with Russia

09 Mar 2020

Oil plunges 30% as Saudis begin price war with Russia

Oil prices crashed by 30% on Monday after Saudi Arabia slashed prices launching a price war against Russia.

Fuel prices witness sharp rise; petrol gets costlier by 23p

20 Jan 2019

Fuel prices witness sharp rise; petrol gets costlier by 23p

Fuel prices on Sunday witnessed a sharp hike for the fourth straight day as state-run oil companies increased the rate of petrol by 23 paise a liter while diesel became costlier by 29-31 paise per liter across the four major metro cities in India.

Saudi Arabia to cut oil exports by 10% in January

10 Jan 2019

Saudi Arabia to cut oil exports by 10% in January

OPEC kingpin Saudi Arabia will slash its oil exports in January by 10% compared to November, its energy minister said yesterday as producers move to shore up tumbling prices.

Oil-producers to review cuts impact, sign pact in April: UAE

12 Dec 2018

Oil-producers to review cuts impact, sign pact in April: UAE

Oil producers, who earlier agreed to trim production to boost prices, will meet in April to review the impact and sign a long-term pact, the UAE's Energy Minister said.

Rupee falls 54 paise, touches 71 level against US dollar

06 Dec 2018

Rupee falls 54 paise, touches 71 level against US dollar

The rupee depreciated by 54 paise and hit the 71 per dollar mark in early trade today, amid the strengthening of American currency and a weak opening in the domestic equity market.

Qatar to quit OPEC in January 2019

03 Dec 2018

Qatar to quit OPEC in January 2019

On Monday, Qatar announced that it would withdraw from the Organization of the Petroleum Exporting Countries (OPEC), effective January 2019.

Rupee falls 10p to 70.89 against USD in early trade

28 Nov 2018

Rupee falls 10p to 70.89 against USD in early trade

The rupee depreciated by 10 paise to 70.89 against USD in early trade today at the interbank foreign exchange amid strengthening of the USD against some currencies overseas.

Saudi Minister calls for 1mn bpd global oil output cut

12 Nov 2018

Saudi Minister calls for 1mn bpd global oil output cut

Following a drop in crude prices, oil producing countries should cut output by one million barrels per day (bpd) to re-balance the market, Saudi Arabia's energy minister Khalid al-Falih told at an energy conference in Abu Dhabi today.

Iran accuses Donald Trump of destabilizing the oil market

08 Jul 2018

Iran accuses Donald Trump of destabilizing the oil market

Iran today accused US President Donald Trump of destabilizing the oil market with his flurry of tweets taking aim at the OPEC cartel.

Petrol, diesel prices hiked for first time after a month

05 Jul 2018

Petrol, diesel prices hiked for first time after a month

Petrol and diesel prices were today hiked for the first time in more than a month on the back of rising international rates and weakening rupee.

Asia energy firms dive with oil-prices; Trump-Kim summit revives hope

28 May 2018

Asia energy firms dive with oil-prices; Trump-Kim summit revives hope

Energy firms plunged with oil prices in Asia today after Saudi Arabia and Russia signaled they could lift output, while indications that Donald Trump's summit with North Korean leader Kim Jong-un could be back on provided support to equity markets.

Petrol/diesel prices hiked for 5th day; expected to increase further

18 May 2018

Petrol/diesel prices hiked for 5th day; expected to increase further

Another day, another hike - petrol and diesel prices have now risen for the fifth consecutive day.

PM calls for responsible pricing for affordable energy to all

11 Apr 2018

PM calls for responsible pricing for affordable energy to all

Addressing the International Energy Forum in Delhi, PM Narendra Modi on Wednesday called for reasonable and responsible pricing to provide easy access to affordable energy to all.

US calls on Arab countries to ease Qatar blockade

10 Jun 2017

US calls on Arab countries to ease Qatar blockade

The US has called on Saudi Arabia, UAE, Egypt and Bahrain to ease their blockade on Qatar.

Petrol prices to change daily across India from June 16

08 Jun 2017

Petrol prices to change daily across India from June 16

Starting June 16, state-run oil marketing companies including Indian Oil would start daily revision of prices of petrol and diesel in the entire country, reported ANI.

Qatar's isolation marks the beginning of end to terrorism: Trump

07 Jun 2017

Qatar's isolation marks the beginning of end to terrorism: Trump

Weighing in on the ongoing Middle East diplomatic crisis, President Trump stated that his trip to Middle East was already paying off, referring to Arab countries hardening stance against funding extremism.

India to leverage market size for OPEC deals

22 May 2017

India to leverage market size for OPEC deals

Sources have confirmed that India would attempt to leverage its market size at the upcoming meeting of OPEC ministers in Vienna, to secure better deals for oil.

Iraq surpasses Saudi to top Indian oil supplies

18 May 2017

Iraq surpasses Saudi to top Indian oil supplies

Iraq has surpassed Saudi Arabia, to become the top supplier of Oil to India, according to Reuters.

Petrol, diesel prices to change every day from May 1

12 Apr 2017

Petrol, diesel prices to change every day from May 1

From May 1 petrol and diesel prices in five Indian cities will change every day to synchronize them with international rates.

IT, pharma cautious, gold investors rejoice over Trump temper

13 Feb 2017

IT, pharma cautious, gold investors rejoice over Trump temper

Uncertainties surrounding US President Donald Trump's trade policies have reinforced Indians' faith in gold being a safe asset.