Tag: OPEC

OPEC cuts India’s 2026 oil demand growth forecast to 40,000 barrels per day

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OPEC cuts India’s 2026 oil demand growth forecast to 40,000 barrels per day

OPEC trims oil demand growth forecast for 2026 | Photo Credit: Reuters The Organisation of the Petroleum Exporting Countries (OPEC) has lowered its forecast for India’s oil demand growth in 2026 to 40,000 barrels per day (b/d), from 60,000 b/d projected in its September report. On a year-on-year (YoY) basis, India’s oil demand is expected…

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Business

OPEC+ agrees in principle on small oil output quota hike without UAE, sources say

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OPEC+ agrees in principle on small oil output quota hike without UAE, sources say

The increase ⁠is similar to last month’s hike of 206,000 bpd minus the ​share of ‌the United Arab Emirates. OPEC logo for representation | Photo Credit: Reuters Seven OPEC+ countries have an agreement ​in principle to raise oil ‌output targets by about 188,000 ​barrels per day ⁠in June, pressing on with plans despite the departure…

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World

Abu Dhabi’s OPEC exit begins its ascent of ‘peak oil’

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Abu Dhabi’s OPEC exit begins its ascent of ‘peak oil’

The UAE’s actual announcement took observers by surprise’ | Photo Credit: AFP Although in recent years the United Arab Emirates (UAE) has frequently threatened to leave the Organization of the Petroleum Exporting Countries (OPEC), its actual announcement, on April 28, took observers by surprise. It was also conspicuous in its context. It provided only three…

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World