OPEC+ talks about 2025 and extends oil curbs to the third quarter

04 Jun 2024 CW Team

As the organization works to support the market in the face of slowing global demand growth, increasing interest rates, and rising rival U.S. production, OPEC+ decided on Sunday to extend its severe oil output cuts till 2024 and was considering extending them into 2025, according to OPEC+ sources.

A barrel of oil currently trades for about $80, which is less than what many OPEC+ countries require to balance their budgets. The main oil importer, China, is experiencing moderate demand growth, which has put pressure on prices.

Since late 2022, OPEC+?the Organization of the Petroleum Exporting Countries and its allies led by Russia?have implemented a number of significant output reductions.

Members of OPEC+ are now reducing their output by 5.86 million barrels per day (bpd), or roughly 5.7% of the world market.

According to two OPEC+ sources, OPEC+ decided to continue voluntary cuts of 2.2 million bpd through the third quarter of 2024.

The people added that discussions over cuts for 2025 and the fourth quarter are still ongoing. Prior reports cited sources suggesting the group would carry over a portion of the 3.66 million bpd decrease until 2025.

Algeria, Iraq, Kazakhstan, Kuwait, Oman, Russia, Saudi Arabia, and the United Arab Emirates are the nations that have voluntarily made concessions that are more significant than those reached with the larger group.

On Sunday, the group met in person and virtually for a series of discussions that started at roughly 09:30 GMT with a meeting of OPEC ministers alone.

Infrastructure Urban

06 Nov 2025

Concord Control Systems Limited Reports ~85% YoY Growth in H1 FY26

Concord Control Systems Limited (BSE: CNCRD | 543619), India’s leading manufacturer of embedded electronic systems and critical electronic solutions, announced its unaudited financial results for the half year ended September 30, 2025.Financial Highlights – H1 FY26 (YoY Comparison)Revenue from Operations rose to ₹815.45 million, up from ₹497.53 million in H1 FY25, marking a 63.90% year-on-year growth.EBITDA increased to ₹217.34 million, compared to ₹142 million in the same period last year.EBITDA Margin stood at 26.65%, compared to 28.54% in H1 FY25, with the decline attributed to ..

Gateway Distriparks Announces Q2 FY25 Results

Gateway Distriparks Limited (GDL), one of India’s leading multimodal logistics providers, announced its financial results for the quarter ended 30 September 2025.For Q2, the company reported total revenue of INR 154.8 crore (H1: INR 316.9 crore), EBITDA of INR 20.56 crore (H1: INR 45.65 crore), PBT of INR –4.23 crore (H1: INR –0.28 crore), and PAT of INR –2.91 crore (H1: INR –0.37 crore). The company stated that these numbers reflect the consolidation of accounts following Snowman Logistics transitioning from an associate company to a subsidiary in December 2024.Commenting on the per..

Last-Mile Connectivity a Prime Focus, Says Ms. Ashwini Bhide,

The IMC Chamber of Commerce and Industry (IMC) hosted a high-impact Managing Committee session today on the theme “Mumbai Metro: Transforming Connectivity and Commuting.” The session featured an insightful address by Ms. Ashwini Bhide, Managing Director, Mumbai Metro Rail Corporation Ltd. (MMRCL), who shared updates on key transport infrastructure developments across Mumbai and the MMR region.Emphasising the city’s critical economic role, Ms. Bhide noted, “Mumbai is the economic powerhouse of Maharashtra, with more than 95% of the region’s population living in urban areas. As Maharas..