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The Business Standard

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June 19, 2026

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FRIDAY, JUNE 19, 2026

Global Oil Industry

Global Oil Industry

Photo: Reuters

Oil prices rise on OPEC+ cuts, record China imports

On Saturday, OPEC+ agreed to extend the deal to withdraw almost 10 percent of global supplies from the market by a third month to end-July

FILE PHOTO: Flames emerge from flare stacks at Nahr Bin Umar oil field, north of Basra, Iraq September 16, 2019. REUTERS/Essam Al-Sudani/File Photo

A month after negative oil prices, US crude contract expiry looms

FILE PHOTO: Iranian President Hassan Rouhani speaks during a meeting, as the spread of coronavirus disease (COVID-19) continues, in Tehran, Iran, April 5, 2020. Official Presidential website/Handout via REUTERS/File Photo

Iran says it will fare better than others after oil crash amid battered economy

FILE PHOTO: Crude oil storage tanks are seen from above at the Cushing oil hub, in Cushing, Oklahoma, March 24, 2016. REUTERS/Nick Oxford

Ships, trains, caves: Oil traders chase storage space in world awash with fuel

A view shows branded oil tanks at Saudi Aramco oil facility in Abqaiq, Saudi Arabia October 12, 2019. Reuters/Maxim Shemetov

Aramco offers struggling refiners sweeter terms for crude

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