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24 May 2017

OPEC set to prolong oil output cuts by nine months

OPEC is likely to extend production cuts for another nine months, ministers and delegates said on Tuesday as the oil producer group meets this week to debate how to tackle a global glut of crude.

21 Mar 2016

Not clear of benefits to Rosneft on Essar stake buy: Moody's

Russia's top oil producer Rosneft may pay USD 2-3 billion to buy 49 per cent stake in Essar Oil, Moody's Investor Service said but raised doubt as to how will acquisition of non-controlling stake will create value for it

10 Jun 2015

US becomes biggest oil producer in 2014, surpasses Saudi Arabia

The United States has overtaken Saudi Arabia as the world's biggest oil producer in 2014 while India has recorded the highest growth in energy consumption among major economies.

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