OPEC+ unlikely to increase production to curb rising oil prices: Goldman Sachs

The world’s most traded commodity got a major boost from the gas crunch in Europe and Asia, prompting forecasters to update their forecasts. One of the most bullish of all observers has been Goldman Sachs, whose commodity analysts have stuck to their price target of $80 for Brent crude regardless of the resurgence of Covid-19 in many key […]

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”We’ll see $200 a barrel Oil”: Saudi Arabia, Russia, OPEC ministers blast IEA’s Net Zero Plan

If the world were to follow the International Energy Agency’s controversial road map, which said investment in new fields would have to stop immediately to achieve net-zero carbon emissions by 2050, “the price for oil will go to, what, $200? Gas prices will skyrocket,” said the Russian Deputy Prime Minister Alexander Novak at the St Petersburg International […]

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Reliance Industries to start gas production from three projects in KG basin very soon

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Reliance Industries plans to start the delayed production from the second wave of discoveries in its eastern offshore KG-D6 block of Krishna Godavari basin in November/December, the company said in an investor presentation.  Reliance is working on three projects in the Krishna Godavari basin KG-D6 block, where production from older fields stopped in February this year. […]

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