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ONGC plans to raise oil output by 4 million tonnes by 2020

ONGC plans to raise oil output by 4 million tonnes by 2020

Sun, Oct 22, 2017

ONGC has drawn a blueprint to raise crude oil production by 4 million tonne (MT) and almost double natural gas output by 2020 to meet Prime Minister Narendra Modi's target of cutting India's import dependence by 10 per cent, Chairman Shashi Shanker has said.

Oil rebounds, as OPEC talks up cutting supply into 2018

Oil rebounds, as OPEC talks up cutting supply into 2018

Tue, May 09, 2017

Oil prices have been under pressure of late, amid investor concerns the global supply glut is not receding as fast as expected.

Oil markets remain cautious on record supplies

Oil markets remain cautious on record supplies

Fri, Apr 21, 2017

Oil opened the last day of a choppy trading week on a cautious note over doubts that an OPEC-led production cut was having the desired effect of restoring balance to a market that has been dogged by oversupply for more than two years.

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OPEC, non-OPEC committee recommends extending output cut by six months

OPEC, non-OPEC committee recommends extending output cut by six months

Sun, Mar 26, 2017

OPEC and rival oil producers are meeting in Kuwait to review progress with their global pact to cut supplies.

US oil rises after dropping below $50 for first time since December

US oil rises after dropping below $50 for first time since December

Fri, Mar 10, 2017

US crude oil prices edged up on Friday for the first time after dropping below $50 per barrel since December in the previous session.

OPEC oil output falls from record high ahead of planned cuts: Reuters survey

OPEC oil output falls from record high ahead of planned cuts: Reuters survey

Thu, Jan 05, 2017

OPEC`s oil output in December fell from a record high ahead of a deal to cut production, a Reuters survey found on Thursday, helped by attacks on Nigeria`s oil industry and top exporter Saudi Arabia trimming exports.

Oil extends gains on hopes for non-OPEC output cuts

Oil extends gains on hopes for non-OPEC output cuts

Fri, Dec 09, 2016

Oil prices extended gains on Friday, buoyed by growing optimism that non-OPEC producers might agree to cut output following a cartel agreement to limit production.

Putin, Iran's Rouhani back OPEC bid to stabilise oil prices

Putin, Iran's Rouhani back OPEC bid to stabilise oil prices

Tue, Nov 29, 2016

Russian President Vladimir Putin and his Iranian counterpart Hassan Rouhani on Monday expressed support for OPEC`s plans to limit the cartel`s output ahead of a crucial meeting this week.

Russia aims to keep oil output around current level after OPEC deal

Russia aims to keep oil output around current level after OPEC deal

Thu, Sep 29, 2016

Russia is aiming to keep its oil production at near-record levels despite OPEC's decision to modestly reduce its output, Russian Energy Minister Alexander Novak said on Thursday.

Russian oil majors Rosneft, Gazprom Neft raise output of hard-to-recover crude

Russian oil majors Rosneft, Gazprom Neft raise output of hard-to-recover crude

Mon, Sep 26, 2016

Russian oil majors Rosneft and Gazprom Neft are raising the share of production from hard-to-recover reserves, to counter declining conventional output, showing the complexities facing producer nations seeking to tackle a global oversupply of crude.

Oil edges lower amid scepticism about output freeze

Oil edges lower amid scepticism about output freeze

Wed, Sep 07, 2016

Oil prices inched lower on Wednesday as market participants remained sceptical that producers will reach an agreement to freeze output to rein in a global supply glut.

Saudi Arabia, Russia sign oil pact; may freeze output in future

Saudi Arabia, Russia sign oil pact; may freeze output in future

Tue, Sep 06, 2016

Saudi Arabia and Russia agreed on Monday to cooperate in world oil markets, saying they will not act immediately but could limit output in the future, sending prices higher on hopes the two top oil producers would work together to tackle a global glut.

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