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Oil Price News
Oil prices stable after two-day decline, but rising U.S. output drags
Wed, Mar 14, 2018
U.S. crude oil production has risen by almost a quarter since mid-2016 and output soared past 10 million bpd in late 2017, overtaking production by top exporter Saudi Arabia.
Saudi oil minister hopes OPEC, allies will ease output cuts in 2019
Sat, Feb 24, 2018
OPEC is reducing output by about 1.2 million barrels per day as part of a deal with Russia and other non-OPEC producers
Asia stocks down, dollar on defensive, gripped by risk aversion
Wed, Sep 06, 2017
Asian stocks tracked Wall Street`s slide overnight to slip on Wednesday while the dollar was on the defensive with tensions in the Korean Peninsula showing little signs of abating.
Global stocks tumble, yen gains after North Korea fires missile over Japan
Tue, Aug 29, 2017
North Korea has conducted dozens of ballistic missile tests under young leader Kim Jong-Un, the most recent on Saturday, but firing projectiles over mainland Japan is rare.
Oil price may once again fall below $45 per barrel: How does it bode for India?
Fri, May 12, 2017
OPEC and other major producers had been enjoying higher prices since agreeing in November to slash production, a strategy designed to rid global markets of excess supply. But now the strategy appears to be not working.
Oil ticks up on weaker dollar, stalled Russian output cuts
Fri, Mar 03, 2017
The dollar slipped on Friday from its highest in seven weeks against a basket of currencies, although still holding close to a level that anchors Brent crude near $55 a barrel and West Texas Intermediate (WTI) just under $53.
Consumer price inflation set to see upside pressure: Crisil
Tue, Feb 14, 2017
The fuel component of CPI rose afresh on rising crude oil prices and weaker rupee. Meanwhile, the persistent stickiness in core inflation is contrary to the refrain that demonetisation had materially dented core demand. Core inflation (CPI excluding food) rose to 5.1% in January from 5% in December, the report said.
Oil rises on OPEC-led cuts, but market remains range-bound
Tue, Feb 14, 2017
"The usually fairly volatile oil price has barely budged for two months, the reason being conflicting dynamics in the market," said Dutch bank ABN Amro.
Global oil&gas industry to see modest rebound in 2017: Moody's
Thu, Dec 08, 2016
"Outlook is stable for integrated oil and gas companies as their Ebitda will rise by about 5%, buoyed by stabilizing capex and a substantial re-alignment of cost structures," Moody's said in a note issued from New York.
Oil, dollar and bond yields sharply higher after OPEC deal
Thu, Dec 01, 2016
The Organization of the Petroleum Exporting Countries on Wednesday agreed to its first output cut since 2008, with Saudi Arabia accepting "a big hit" on its production. Non-OPEC Russia will also join output reductions for the first time in 15 years to help OPEC prop up oil prices.
Asia stocks at 1-week highs on U.S. gains; oil up
Tue, Nov 22, 2016
Asian stocks struck one-week highs with investors undeterred by a powerful earthquake in Japan on Tuesday, but after Wall Street closed at a record peak they were also wary of chasing prices higher until President-elect Donald Trump picks his economic team.
Oil may rise to $55 if all producers cooperate - Iran
Sat, Nov 19, 2016
"We are receiving positive signals that increase the likelihood of agreement at the meeting ... and I`m optimistic about the situation," Zanganeh told state television by telephone, after meeting OPEC Secretary-General Mohammed Barkindo in Tehran ahead of the Nov. 30 meeting.
Oil prices fall on rise in U.S. drilling, strong dollar
Mon, Oct 17, 2016
Oil prices fell early on Monday, pulled down by a rising rig count in the United States, a strong dollar and record OPEC-output which comes amid slowing global economic growth that could erode fuel demand.
Oil edges up on record Indian imports, hopes of producer cut
Wed, Oct 12, 2016
India`s oil imports rose 4.4% in September from the previous month to a record high 4.47 million barrels per day (bpd) as the country expanded its refining capacity to meet growing fuel demand in an expanding economy, shipping data showed.
Asian stocks slip as Deutsche Bank drags Wall Street
Fri, Sep 30, 2016
Japan`s Nikkei retreated 1.5% after sluggish consumption data.
Asian shares, bonds skid by US Fed Reserve risks
Mon, Sep 12, 2016
Shanghai followed with a fall of 1.5%, while Australian stocks sank 2%.
Oil prices dip on stronger dollar; rise in U.S. crude stocks data
Wed, Aug 31, 2016
Crude oil futures fell in early trade on Wednesday as the U.S. dollar held around three-week highs and industry stocks data indicated a build in U.S. crude inventories.
Oil prices fall over 1%, on strong dollar, Iraq output
Tue, Aug 30, 2016
Oil prices settled down more than 1 percent on Monday, snapping two consecutive days of gains, on renewed concerns about an oil glut, a stronger dollar and expectations that Nigerian rebels will stop hampering that country`s crude output.
Petrol Price Cut: Are you paying less than global Indian crude basket price?
Tue, Aug 16, 2016
With a Re 1 for petrol and Rs 2 cut for diesel on August 15, 2016, Oil Marketing Companies (OMCs) in India have brought down petrol prices four times in the past two months.
Oil falls on oversupply as calls for producer talks draw scepticism
Wed, Aug 10, 2016
"Oil eased lower as another round of proposed production freeze talks by OPEC failed to excite investors," ANZ Bank said.