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Gulf OPEC News

06 Mar 2021

India should use oil it purchased last year at cheaper rates: Saudi Arabia

India had purchased 16.71 million barrels of crude in April-May, 2020 The average cost of that crude purchase was USD 19 per barrel Excise duty was raised by Rs 13 and Rs 16 per litre on petrol and diesel between March 2020 and May 2020

Gulf OPEC members

01 Jun 2016

Gulf OPEC members seek to revive global oil output deal

Vienna: Gulf OPEC members including Saudi Arabia are looking to revive the idea of coordinated oil-output action by major producers when the group meets on Thursday, a senior OPEC source said, but Iran signalled the country was not ready for any such pact.

12 Jan 2015

OPEC price war in Asia intensifies as oil falls below $50

The United Arab Emirates (UAE) last week joined Kuwait and Iraq in pricing crude they sell to Asia below that of OPEC`s top producer Saudi Arabia.

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