Primary Country (Mandatory)

United States

Other Country (Optional)

Set News Language for United States

Primary Language (Mandatory)
English
Other Language[s] (Optional)
No other language available

Set News Language for World

Primary Language (Mandatory)
English
Other Language(s) (Optional)

Set News Source for United States

Primary Source (Mandatory)
CNN
Other Source[s] (Optional)

Set News Source for World

Primary Source (Mandatory)
AajTak
Other Source(s) (Optional)
  • Countries
    • India
    • United States
    • Qatar
    • Germany
    • China
    • Canada
    • World
  • Categories
    • National
    • International
    • Business
    • Entertainment
    • Sports
    • Special
    • All Categories
  • Available Languages for United States
    • English
  • All Languages
    • English
    • Hindi
    • Arabic
    • German
    • Chinese
    • French
  • Sources
    • India
      • AajTak
      • NDTV India
      • The Hindu
      • India Today
      • Zee News
      • NDTV
      • BBC
      • The Wire
      • News18
      • News 24
      • The Quint
      • ABP News
      • Zee News
      • News 24
    • United States
      • CNN
      • Fox News
      • Al Jazeera
      • CBSN
      • NY Post
      • Voice of America
      • The New York Times
      • HuffPost
      • ABC News
      • Newsy
    • Qatar
      • Al Jazeera
      • Al Arab
      • The Peninsula
      • Gulf Times
      • Al Sharq
      • Qatar Tribune
      • Al Raya
      • Lusail
    • Germany
      • DW
      • ZDF
      • ProSieben
      • RTL
      • n-tv
      • Die Welt
      • Süddeutsche Zeitung
      • Frankfurter Rundschau
    • China
      • China Daily
      • BBC
      • The New York Times
      • Voice of America
      • Beijing Daily
      • The Epoch Times
      • Ta Kung Pao
      • Xinmin Evening News
    • Canada
      • CBC
      • Radio-Canada
      • CTV
      • TVA Nouvelles
      • Le Journal de Montréal
      • Global News
      • BNN Bloomberg
      • Métro
Banarasi Art Silk Saree Buy Now
Men's Slim Fit Blazer Buy Now
Kanjivaram Silk Saree Buy Now
Polarized Sports Sunglasses 3-Pack Buy Now
Kanjivaram Soft Silk Saree Buy Now
Rihero Women's Leather Sandals Buy Now
Sefwon Phantom Black Unlocked Android Smartphone Buy Now
Linen Wide Leg Pants Buy Now
Men's Manicure & Pedicure Kit Buy Now
Ultrasonic Pest & Insect Repeller Buy Now
THE GYM PEOPLE Joggers Buy Now
Small Crossbody Shoulder Bag for Women Buy Now
Knitted Turtleneck Buy Now
Ginasy Faux Leather Leggings for Women Buy Now
Summer Satin Dress Elegant Sleeveless Buy Now
CRZ Yoga Pima Cotton Cropped Tank Buy Now
Hanes Women's V-Neck Tee Buy Now
Blisset 3 Pack High Waisted Leggings for Women Buy Now
2 in 1 Running Shorts Quick Dry Athletic Shorts Buy Now
Michael Kors Oversized Runway Watch Buy Now
MoreBack to News Headlines
OPEC+ producers announce voluntary oil output cuts from May to end of 2023

OPEC+ producers announce voluntary oil output cuts from May to end of 2023

The Hindu
Monday, April 3, 2023 2:34 AM GMT

Saudi Arabia, Russia and other OPEC+ oil producers announced cuts in oil production amounting to around 1.16 million barrels per day

Saudi Arabia and other OPEC+ oil producers on Sunday announced further cuts in their production amounting to around 1.16 million barrels per day in a surprise move they said was aimed at supporting market stability.

The development comes a day before a virtual meeting of an OPEC+ ministerial panel, which includes Saudi Arabia and Russia, and which had been expected to stick to 2 million bpd of cuts already in place until the end of 2023.

Oil prices last month fell towards $70 a barrel, the lowest in 15 months, on concern that a global banking crisis would hit demand. Still, further action by OPEC+ to support the market was not expected after sources downplayed this prospect and crude recovered towards $80.

Oil prices jumped about $5 a barrel on Monday’s open, jolted by a surprise announcement by the OPEC+.

Sunday’s pledges bring the total volume of cuts by the Organization of the Petroleum Exporting Countries, Russia and other allies to 3.66 million bpd according to Reuters calculations, equal to 3.7% of global demand.

“OPEC is taking pre-emptive steps in case of any possible demand reduction,” Amrita Sen, founder and director of Energy Aspects, said on Sunday.

Last October, OPEC+ had agreed to an output cut of 2 million bpd from November until the end of the year, a move that angered Washington as tighter supply boosts oil prices.

Read full story on The Hindu
Share this story on:-
Run 3 Space | Play Space Running GamePlay Run 3, the ultimate space tunnel running game with 300+ challenging levels!Adv.
Traffic Jam 3D | Online Racing GameTraffic Jam 3D is a game where you’ll be driving through heavy traffic.Adv.
Duck Hunt | Play Old Classic GamePlay the classic 1984 light gun shooter game Duck Hunt on your browser.Adv.
More Related News
Smarter, faster, stronger: how AI is transforming manufacturing

AI is transforming Indian manufacturing, increasing efficiency, reducing waste, and enhancing competitiveness in a rapidly evolving global market.

Global stocks mostly fall as Trump ramps up tariff threats

Trump's trade war threats impact global markets, with Bitcoin surging and European stocks dropping.

Sensex, Nifty tumble nearly 1% on selling in IT, auto stocks

Global market trends and tariff uncertainties led to a significant drop in Sensex and Nifty, impacting major stocks.

Rupee falls 7 paise to close at 85.77 against U.S. dollar

Rupee weakens against dollar on trade tariff uncertainty, global risk-off sentiments; India negotiating trade agreement with U.S.

How can cat bonds plan for a natural disaster? | Explained

Cat bonds offer a unique solution to disaster risk insurance, transferring risk to financial markets for post-disaster relief.

Glenmark Pharma shares surge after its U.S arm, AbbVie ink pact for investigational cancer drug

Glenmark Pharmaceuticals' share prices surge 10% on exclusive licensing agreement with AbbVie for ISB 2001 trispecific antibody.

India revises proposed retaliatory duties against U.S. over steel, aluminium tariffs: WTO

India has revised its proposal to impose retaliatory duties under the WTO (World Trade Organisation) norms against the U.S. over American tariffs on steel and aluminium in view of the further hike in duty by the Trump administration

Google to discount cloud computing services for U.S. government: Report

Google will heavily discount cloud computing services for the United States government, the Financial Times reported.

Nvidia CEO Jensen Huang to meet Trump before China trip, source says

Nvidia CEO Jensen Huang will meet U.S. President Donald Trump at the White House on Thursday.

Markets decline in early trade dragged down by selling pressure in IT stocks

Sensex and Nifty decline due to selling pressure in IT stocks post TCS earnings, impacting market sentiment.

Elon Musk’s Tesla to open first India store in Mumbai on July 15

Tesla to open first showroom in Mumbai on July 15, marking its entry into the Indian market.

EU unveils AI code of practice to help businesses comply with bloc’s rules

The European Union has released a code of practice on general purpose artificial intelligence.

Snap, crackle, sale: Nutella maker Ferrero plans to buy WK Kellogg for $3 billion

Ferrero Group to acquire WK Kellogg for $3.1 billion, expanding U.S. presence with iconic cereal brands.

Parking Slot | Free Parking GamePlay Parking Slot, the best online 3D car driving and parking game.Adv.
Slope Ball Run - Play OnlineSlope Game takes you on an exciting journey of a ball on special paths.Adv.
Vedanta's donations to BJP increase nearly four times to ₹97 crore in FY25: Annual Report

Vedanta details political donations and brand fees paid to parent company Vedanta Resources Plc, totaling ₹2,397 crore in 2024-25.

Indian Bank hands over sanction letters worth ₹1,011 cr to over 3,000 women

Indian Bank supports 3,000 women with ₹1,011 crore in SHG financing, promoting financial inclusion in Tamil Nadu.

Mercedes-Benz India mulls price hike by 1-1.5% in September

Mercedes Benz India to increase prices by 1-1.5% in September due to currency fluctuations, says CEO Santosh Iyer.

PNGRB wants GST on CNG vehicles to be lowered, no excise on CBG 

PNGRB proposes changes to boost CNG vehicle usage in India, including GST reduction and excise duty waivers for natural gas.

What is the state of inequality in India? Premium

Debate on inequality in Indian economy: World Bank report highlights low consumption inequality, but high income and wealth inequality.

IIFL Home Finance gets $100 million from AIIB

IIFL Home Finance secures $100 million from AIIB to boost affordable housing and green building initiatives.

India’s poor have bank accounts but are increasingly going to money lenders for loans, data shows

Government's financial inclusion program has increased bank account access, but many low-income households resort to expensive informal borrowing.

STPI aims to spread IT sector growth nationwide

STPI driving digital transformation in India by promoting tech growth, entrepreneurship, and job creation in tier two and three cities.

Need to accelerate domestic Natural Rubber production: Arun Mammen, Chairman, ATMA

Accelerating domestic natural rubber production to meet rising consumption, a strategic priority for India's tyre industry.

Titan Company announces top level rejigs

Titan Company announces new leadership appointments effective January 1, 2026, with changes in Jewellery and Watches Divisions.

Centre earmarks ₹500 crore for e-truck purchases under PM E-Drive scheme

PM E-Drive initiative offers ₹500 crore for 5,600 electric trucks, with a fifth dedicated to Delhi, promoting electric mobility.

Government net direct tax collections up to July 10 down 1.3% on higher refunds

Central Government's net direct tax collections for 2025 show a decrease compared to the previous year, led by lower corporate taxes.

© 2008 - 2025 Webjosh  |  News Archive  |  Privacy Policy  |  Contact Us