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India is concerned that the rallying oil prices are hurting its economy.

OPEC agreed to a modest rise in oil production from next month.

The idea to bump output has been advocated by Saudi Arabia and Russia.

The group equally stated they will meet again on December 4. 2018 to review their decision and its impacts on the market.

The governments of Iran and Oman signed an agreement in 2013 for the construction of the 400-kilometre pipeline.

The request to halt Japanese imports signals a tougher stance than in 2012.

The major producers appear to have consumers’ interests in mind more than they have in the past.

Iran started swapping oil with Iraq’s Kirkuk on June 3.

Oil production at Kazakhstan'.s Kashagan field will not be increased in 2018 to 370.000 barrels per day.

Redistribution of quotas between countries to reduce oil production would become main issue at the meeting.