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OPEC+ agreed on Sunday a modest oil output hike for June, an increase that will remain largely on paper as long as the Iran war continues to disrupt Gulf oil supplies through the Strait of Hormuz. Seven OPEC+ countries will raise oil output targets by 188,000 barrels per day in June, the third consecutive monthly…
Last Updated:April 06, 2026, 09:02 IST Eight OPEC+ countries who had previously announced extra voluntary cuts in April and November 2023, met online on April 5 to review global market conditions. The Organization of the Petroleum Exporting Countries (OPEC) has decided to adjust oil production by 206,000 barrels per day, starting in May 2026. The…
Last Updated:June 20, 2025, 12:16 is Oil prices dipped on Friday as traders awaited the U.S. decision on involvement in the Israel-Iran conflict Crude oil prices softened on Friday (Representational image: AFP) Crude Oil Prices: Oil prices softened on Friday as traders awaited a decision from the United States regarding its potential involvement in the…
Last Updated:May 05, 2025, 18:17 is The US and UK central bank decisions of rate cuts later this week also triggered the fall in prices. The sun sets behind the Dora (Daura) Oil Refinery Complex in Baghdad. Oil prices slumped on May 5, 2025 after eight OPEC+ members announced a sharp increase in production, while…