OPEC News
Saudi Arabia cuts crude oil prices for Asia to 5-year low amid rising signs of surplus reserves — here are the details
OPEC member Saudi Arabia has slashed its crude oil selling price to Asia for January 2026 to a five-year low amid rising signs of surplus reserves in the oil market. The January Arab Light crude oil official selling price to Asia dropped to $0.60 a barrel above the Oman/Dubai average.
1 min read4 Dec 2025Trump likens homebuilders to OPEC keeping ‘oil prices high’; calls on federal lenders to ‘restore the American dream’
Donald Trump compares US homebuilders to OPEC, accuses them of hoarding land, and urges Fannie Mae and Freddie Mac to boost housing construction.
2 min read6 Oct 2025Mint Explainer | A decision by OPEC+ to increase output augurs well for India's $137-bn crude oil import bill
As OPEC+ considers raising production targets, India stands to gain significantly from easing prices. The International Energy Agency projects India will drive global oil demand growth through 2030.
2 min read5 Oct 2025Petroleum minister Puri talks to Opec about ensuring balance and predictable global oil market
At the Opec International Seminar in Vienna, Indian petroleum minister Hardeep Singh Puri met with Opec secretary general Haitham Al Ghais to discuss the need for a stable and predictable oil market.
2 min read10 Jul 2025Mint Quick Edit | Opec’s scramble is doing India a good turn
The oil cartel plans to increase supply yet again in a lunge for market share as crude prices sag. This suits India fine.
1 min read8 Jul 2025Oil prices fall 1% as OPEC+ announces increase in output
Members to raise production by 548,000 bpd in August, reversing cuts faster than expected; S&P says supply will outstrip demand by 1.2 million bpd in H2 2025.
2 min read7 Jul 2025Post-ceasefire hangover: The world is awash in crude oil right now
West Asia’s truce is tenuous and relations between Iran and Israel remain tense, but the world has more oil than it needs. Gulf and US shale producers have upped production. Expect prices to slump as the effects show up.
4 min read25 Jun 2025OPEC sees lower supply growth from rivals, keeps demand outlook steady
The cartel trimmed next year’s forecast for supply growth from the U.S. and other rivals while keeping its oil demand expectations unchanged as it continues to ramp up production.
2 min read16 Jun 2025Javier Blas: An Israel-Iran war may not rattle the oil market
Even though crude oil oversupply is evident, it’ll take nerves of steel to short the oil market after Israel’s Friday attack on Iran. Will it flare into a larger fireball if Tehran and Tel Aviv escalate hostilities and the US and Gulf suppliers are dragged in?
4 min read13 Jun 2025OPEC+ hikes oil output supply for third straight month by 4,11,000 bpd: Brent crude outlook weakens to $67 in 2025
OPEC+ includes OPEC members and allies such as Russia. They began their current round of output increases in April. While the eight are raising supply, some of them are being asked to temper those increases to compensate for overproducing in past months.
3 min read31 May 2025Popular Topics
Budget
The Union Budget contains details about the estimated receipts and the expenditure of the government for a particular fiscal year. The Budget is allotted for the upcoming fiscal year, which runs from 1st April to 31st March of the next year. Here is a quick guide on how the Union Budget is prepared
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