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Organisation of Petroleum Exporting Countries News

World oil markets

01 Jun 2016

Iran says markets have absorbed its rising oil exports

Tehran: World oil markets have seen no negative impact from a doubling of Iranian exports following the lifting of international sanctions, the country's oil minister said today.

04 Jun 2015

India asks OPEC to stop charging premium from Asian buyers

Reiterating New Delhi's decade-old demand, Oil Minister Dharmendra Pradhan said the OPEC is not justified in asking Asian buyers to pay more so that transportation cost to distant consumers particularly in the West can be subsidised.

17 Mar 2015

OPEC daily basket price drops

The basket of 12 crude oils of the Organisation of Petroleum Exporting Countries (OPEC) closed at $49.46 a barrel on Monday, compared to $51.66 last Friday, dropping over $2, the organisation`s secretariat said.

19 Jan 2015

Iran seeks OPEC cooperation to stop oil price slump

Iran Monday sought cooperation among the member states of the Organisation of Petroleum Exporting Countries (OPEC) to prevent the global oil prices from falling further.

21 Dec 2014

Gulf oil producers stand firm on OPEC output

Oil-rich Arab Gulf countries stood firm against non-OPEC crude producers on Sunday, vowing they will not cut output nor hold an emergency cartel meeting to support slumping prices.

11 Sep 2014

No need for urgent OPEC meet on lower oil price: Kuwait

OPEC member Kuwait said on Thursday there was no need to call an emergency meeting for the producers` cartel to discuss sliding oil prices after crude hit a 17-month low.

23 Jun 2014

Oil prices firm on Iraq tensions

US benchmark West Texas Intermediate was up 31 cents to USD 107.14, while Brent crude gained 35 cents to USD 115.16 in mid-morning trade.

10 Jun 2014

OPEC daily basket price closes higher

The basket of 12 crude oils of the Organisation of Petroleum Exporting Countries (OPEC) stood at USD105.72 a barrel on Monday.

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