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Friday, July 25, 2025
TopicOPEC

Topic: OPEC

Oil prices fall for the second time in a week post Saudi Arabia’s decision to cut output

Oil prices rose last week as Saudi announced to cut its oil output by 1 million barrels a day to support flagging crude oil prices.

Russian oil slashes OPEC’s share of Indian market to 22-year low

India shipped in about 1.6 million barrels per day (bpd) of Russian oil in 2022/23, the data showed, about 23% of its overall 4.65 million bpd imports.

OPEC+ to cut oil production by 1.15 million barrels a day. What it means for India

Announcement by oil-producing cartel Sunday sent global markets into flux, with crude prices surging high. Experts say India will only feel effects in medium to long term.

OPEC+ surprise production cuts surges oil prices by $5 per barrel

Organization of Petroleum Exporting Countries and their allies, including Russia, shook markets by announcing output cuts of about 1.16 million barrels/day on Sunday.

How India could ride out oil price rise thanks to cheap supplies from Russia & more FDI

With its fleet of hurriedly assembled tankers, Moscow is likely to defy EU oil sanctions. Moreover, eased US sanctions on Venezuelan crude to help New Delhi meet energy demand.

India to diversify oil imports after surprise output cuts by OPEC, its allies

Oil minister Hardeep Singh Puri warned that these cuts could tip the world into recession. He also informed that Indian firms have signed new oil supply deals with Colombia and Brazil.

Production cut on the cards as OPEC+ gears up for 1st in-person meet since pandemic, Ukraine war

Russia, backed by Saudi Arabia, has been lobbying for the 23-member group to cut oil supplies by 1 million barrels per day.

OPEC’s second largest producer Iraq hit as cheap Russian oil flows into Asia

Basrah Medium & Heavy crude, Iraq's main exported grades, face a threat in international markets as major buyers, India & China prefer discounted Russian crude oil after Ukraine invasion.

Oil advances ahead of OPEC+ meet after surging on EU’s Russian oil ban

The EU plans to ban Russian oil over the next six months and refined fuels by the end of the year, to increase pressure on Vladimir Putin over his invasion of Ukraine.

How US & allies’ potential sanctions on Russian oil & gas could hit life in Europe

Sanctions on energy imports from Russia could have complicated effects on oil & gas supply chains globally, and in Europe, living standards and economic activity could be impacted.

On Camera

Mumbai blasts acquittal must not set a precedent. It’ll hurt both agencies and judiciary

Several terror attack cases have been concluded by following the methods Maharashtra ATS used in the 7/11 case. It’s surprising that the high court didn’t find them worthy of legal scrutiny.

India-US set to ink mini trade deal soon, reach understanding on agricultural & dairy products

Mini deal will likely see no cut in 10% baseline tariff on Indian exports announced by Trump on 2 April, it is learnt, but additional 26% tariffs are set to be reduced.

During Operation Sindoor, Pakistan likely used NATO-style aerial tactics taught by China

The Chinese are said to have hired ex-fighter pilots & air force operators from NATO countries over the past several years to help them fine-tune their operational & flying capabilities.

Strategic partner one day, tactical nightmare the next: India’s learning Trumplomacy the hard way

Public, loud, upfront, filled with impropriety and high praise sometimes laced with insults. This is what we call Trumplomacy. But the larger objective is the same: American supremacy.