Saudi Arabia goes alone at OPEC with million-barrel output cut: Report

The OPEC announced a surprise supply reduction of about 1.6 million barrels a day in early April, but since then weak economic data from China have weighed on oil futures, which fell 11% in New York in May.

India's imports from OPEC at all-time low as Russian oil buy peaks: Report

From a market share of less than 1% in India's import basket before the start of the Russia-Ukraine conflict in February 2022, Russia's share of India's imports rose to 1.67 million barrels per day in April, taking a 36% share.

Oil prices drop as US rate hike fears, weak China data offset supply cuts

Brent futures for July delivery were down 56 cents, or 0.7%, at $79.77 a barrel at 0547 GMT, while U.S. West Texas Intermediate crude lost 63 cents, a 0.8% drop, to trade at $76.15.

Oil prices rise to near $90/bbl on US crude stock drop

<ul><li>Brent crude futures rose $1.03, or 1.17%, to $89.39 a barrel at 0941 GMT, while U.S. West Texas Intermediate (WTI) crude futures gained 86 cents, or 1.06%, to $81.81 a barrel.</li></ul>

Will OPEC+ consider additional crude output cuts in their upcoming meeting?

In October, OPEC+ members agreed to cut oil production by 2 million barrels per day, the largest reduction since the pandemic began. The reduction is roughly equivalent to 2% of global oil demand.

Crude oil prices saw their second-biggest monthly gain in 2022

The surge in oil prices began after the OPEC+ agreed to cut oil production by 2 million barrels per day from November, the largest reduction since the pandemic began, and the reduction is roughly equivalent to 2% of global oil demand.

Supply cuts from OPEC+ could drive oil prices to above $100, say experts

Experts believe that the outcome of Monday's meeting could be a wait-and-see approach as large uncertainties about the revival of Iran's nuclear deal are hanging over the market, apart from where the demand will go from here.

Oil Set for First Monthly Decline This Year Before OPEC+ Meeting

Oil is heading for the first monthly decline since November as OPEC+ ministers prepare to gather to discuss the group’s supply policy.

'India's Russian oil imports jump 50 times; now accounts for 10% of all import'

India's Russian oil imports jump 50 times; now accounts for 10% of all import: official

Crude Oil Sinks Again as Specter of US Slowdown Alarms Investors

Oil retreated along with other key commodities as concern over a global economic slowdown intensified, with Federal Reserve Chair Jerome Powell warning that a US recession is possible.

Top Opec News

markets

Saudi Arabia goes alone at OPEC with million-barrel output cut: Report

markets

India's imports from OPEC at all-time low as Russian oil buy peaks: Report

markets

Oil prices drop as US rate hike fears, weak China data offset supply cuts

markets

Oil prices rise to near $90/bbl on US crude stock drop