The price of a gallon of diesel fuel is shown electronically on a pump at a QuikTrip station in Greenwood Village, Colo. (Photo: AP)
Business

Major oil exporters agree to keep production steady in November

The fighting with Iran, which began with US and Israeli attacks on Feb. 28, has disrupted global oil supplies and driven prices higher.

AP

DUBAI: Seven major oil-exporting countries agreed Sunday to keep production steady in November at a time when the Iran war has driven the price of benchmark Brent crude oil above $100 a barrel.

The so-called OPEC+ subgroup Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman will meet again on November 1 to review conditions in the oil market.

The fighting with Iran, which began with US and Israeli attacks on Feb. 28, has disrupted global oil supplies and driven prices higher.

The Group of Seven wealthy democracies said Friday that they plan to release 100 million barrels of oil and fuel products in the coming weeks, starting with “substantial” amounts of diesel.

Diesel prices recently hit record highs in the United States, squeezing farmers, truckers and consumers who depend on the fuel.

The G7 promised a “frontloaded substantial release” of diesel within the next 20 days and the rest over four months.

Tamil Nadu government eyes land along HC road to double Fort-Beach line

Food allowance under noon meal scheme unpaid for 6 months

One arm of Perungalathur ROB done after 26 yrs, now forest-land dispute keeps it out of public reach

All not well as harvested paddy piling up at DPCs across Delta

Southern Railway turns to software simulations to find fix for Adambakkam MRTS platform issue

SCROLL FOR NEXT