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VOLUNTARY OUTPUT CUTS
Why is the UAE, OPEC’s third-largest oil producer, leaving OPEC? Will Iraq or Kuwait leave next, and what it means for oil prices and the cartel’s futureWhy is UAE leaving OPEC, will Iraq or Kuwait leave next? Nearly 3.5 million barrels per day are now at stake. The Organization of the Petro...28 Apr, 2026, 07.39 PM IST- India craves a sweet fix for crude addiction. Can it work?India is rapidly expanding its use of ethanol, a sugar-based fuel. This strategy aims to cut reliance on imported crude oil and boost farme...23 Apr, 2026, 03.47 PM IST
- OPEC+ hikes oil production quotas, issues warningOPEC+ will boost oil production by 206,000 barrels daily from May. The cartel warns that repairing damaged energy facilities from conflicts...05 Apr, 2026, 09.34 PM IST
- OPEC+ to further speed up oil output hikes, four sources sayOPEC plus is likely to increase oil production further. The group may reverse voluntary output cuts by October. This decision follows conce...04 May, 2025, 04.26 PM IST
- Oil prices slip despite OPEC+ production cut extensionOil prices fell as OPEC+ extended output cuts, impacting Brent and WTI futures. Goldman Sachs analysts view meeting as bearish. Gaza confli...03 Jun, 2024, 07.43 AM IST
- OPEC+ extends oil cuts to third quarter, discusses 2025, sources sayOPEC+ agrees to extend deep oil output cuts into 2024 and considers further extension into 2025 to stabilize the market amidst weak global ...02 Jun, 2024, 05.47 PM IST
- Oil prices tick up on tighter supply outlookThe market is watching wildfires in remote western Canada that could disrupt the country's oil supply, Tony Sycamore, market analyst with I...14 May, 2024, 06.42 AM IST
- OPEC+ unlikely to change output policy before June meetingOPEC+ to maintain oil output policy until June; next meeting likely swift. Members agree on 2.2M bpd cuts until Q2 end. Oil prices strong, ...26 Mar, 2024, 09.21 PM IST
- Oil steadies after expected OPEC+ cut extensionOil prices remain stable as OPEC+ extends output cuts. Brent futures reach $83.74 a barrel, while WTI rises to $80.03. Brent spreads widen ...04 Mar, 2024, 11.19 PM IST
- OPEC+ members extend oil output cuts to second quarterSaudi Arabia, the de facto leader of the Organization of the Petroleum Exporting Countries (OPEC), said it would extend its voluntary cut o...03 Mar, 2024, 10.08 PM IST
- Oil prices steady amid OPEC+ cut doubts, Mid-East tensionBrent crude futures edged up 13 cents to $78.16 a barrel by 0106 GMT, while U.S. West Texas Intermediate crude futures were up 18 cents at ...05 Dec, 2023, 07.36 AM IST
- Oil prices fall, extend slide after OPEC+ cuts underwhelmBrent crude futures for February fell 14 cents, or 0.2%, to $80.72 a barrel by 0005 GMT. U.S. West Texas Intermediate crude futures fell 12...01 Dec, 2023, 07.44 AM IST
- Russia to continue voluntary cut of oil and oil product exports until year-endRussia has agreed to undertake two separate reductions in oil supply: in April it decided to cut crude output by 500,000 barrels per day (b...05 Nov, 2023, 09.01 PM IST
- Saudi Arabia to continue voluntary oil output cut of one million bpdSaudi Arabia, OPEC's de-facto leader, first implemented the additional voluntary cut in July and has been renewing it monthly. The kingdom ...04 Oct, 2023, 02.04 PM IST
- Oil prices edge higher on supply woes as Saudi, Russia extend output cutsBrent crude futures rose by 17 cents, or 0.2%, to $90.21 a barrel at 00:08 GMT. It crossed the $90 mark for the first time since November o...06 Sep, 2023, 07.55 AM IST
- Saudi Arabia, other OPEC+ producers announce voluntary oil output cutsThe UAE said it would cut production by 144,000 bpd, Kuwait announced a cut of 128,000 bpd while Iraq said it would cut output by 211,000 b...03 Apr, 2023, 11.32 AM IST
- OPEC+ alliance announces surprise cuts of around 1.15 mbpd from May to year-endThe prosecutor, based in the Swiss capital Bern, is looking into potential breaches of the country's criminal law by government officials, ...02 Apr, 2023, 09.50 PM IST
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