Crude output has increased from OPEC+ as group accelerated output hikes to regain market share

Traders eyeing New Delhi's responses to Washington pressure to stop buying Russian oil

Possibility of further US sanctions, tariffs on Russian oil buyers hangs over market

Markets on the lookout for ceasefire as US President threatens secondary sanctions on Russian oil buyers if peace talks stall

LONDON, July 24 — Oil prices rose more than one per cent on Thursday, buoyed by optimism over United States (US) trade negotiations that would ease pressure on the global economy and a sharper-than-expected decline in US crude inventories.

MOSCOW, May 14 — The Organisation of the Petroleum Exporting Countries (OPEC) has kept its forecast for the global oil demand growth in 2025 unchanged at 1.3 million barrels per day (BPD) and expects it at the level of 105 million barrels per day, according to its new report released on Wednesday.

WASHINGTON, May 8 — United States (US) President Donald Trump's administration has imposed sanctions on a third Chinese independent - or "teapot" - oil refinery, and port terminal operators in China for purchases of Iranian oil.

LONDON, May 6 — Oil gained more than US$1.50 per barrel on Tuesday, rebounding on technical factors and bargain hunting after a decision by OPEC+ to boost output sent prices down in the previous session, although concerns about a market surplus persisted.

KUALA LUMPUR, March 22 — The ringgit is anticipated to trade within the 4.42–4.45 range against the US dollar next week, with short-term volatility contingent upon broader market dynamics.

HOUSTON, Jan 1 — Oil prices fell around three per cent in 2024, slipping for a second straight year, as the post-pandemic demand recovery stalled, China's economy struggled, and the United States (US) and other non-OPEC producers pumped more crude into a well-supplied global market.

VIENNA, Sept 6 — Eight OPEC+ member countries have agreed to extend their voluntary oil production cuts by two months, pushing the deadline to the end of November in response to declining oil prices, reported Xinhua.

VIENNA, Aug 2 — The Joint Ministerial Monitoring Committee (JMMC) of Opec+, the Organisation of the Petroleum Exporting Countries (Opec) and its allies, yesterday confirmed the oil-producer group’s commitment to its current output policy, reported Xinhua.

LONDON, July 10 — Oil prices rebounded today following three days of declines after an industry report showed the United States' (US) crude and fuel stockpiles falling last week, indicating steady demand and the outlook for interest rate cuts improved.

SINGAPORE, June 13 — Singapore is offering refiners and petrochemical companies rebates of up to 76 per cent for its planned carbon tax for 2024 and 2025 to help them ease cost stress and remain competitive versus rivals elsewhere, four sources familiar with the matter said.

ANKARA, March 14 — Oil prices increased today following data indicating increased demand in the United States (US), the world's biggest oil consumer, and supply concerns stemming from the ongoing conflict in the Middle East, reported Anadolu.

JAKARTA, July 18 — The lifting of oil and gas in Indonesia between January and June fell below target due to some unplanned shutdowns and delays in starting projects, upstream regulator SKK Migas said today.

VIENNA, June 5 — The Organisation of the Petroleum Exporting Countries (OPEC) and its allies, a group known as OPEC+, on Sunday (June 4) agreed to adjust their overall production level to 40.46 million barrels per day (bpd) next year, reported Xinhua.

MOSCOW, March 14 — OPEC has upgraded its forecast for the global oil demand growth in 2023 by 30,000 barrels per day to 2.3 million barrels per day, according to its fresh report published on Tuesday as reported by Sputnik.

KUALA LUMPUR, March 10 — The Malaysian rubber market ended lower today, dragged by declining crude oil prices, said a dealer.

SINGAPORE, June 20 — China's crude oil imports from Russia soared 55 per cent from a year earlier to a record level in May, displacing Saudi Arabia as the top supplier, as refiners cashed in on discounted supplies amid sanctions on Moscow over its invasion of Ukraine.