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Global Oil Prices

Global oil prices would have hit the roof if India had not bought oil from Russia: Minister Hardeep Puri

Global oil prices would have hit the roof if India had not bought oil from Russia: Minister Hardeep Puri

Sat, Nov 09, 2024

The minister noted that India's decision to source oil from Russia has been instrumental in ensuring a balance between energy affordability, availability, and sustainability, a difficult "trilemma" that many nations have struggled with.

Global oil prices: India watching situation very carefully, says Hardeep Singh Puri

Global oil prices: India watching situation very carefully, says Hardeep Singh Puri

Mon, Oct 07, 2024

But supplies are not impacted and India, the world's third largest oil consuming and importing nation, is confident of being able to navigate any situation."I am confident, we will be able to navigate as we did previously," he said.Puri said there is no shortage of oil and India is confident of sourcing its requirement.

Inflation alert! Bangladesh increases petrol price by over 50%, diesel price goes up by 42% | What led to this steep hike

Inflation alert! Bangladesh increases petrol price by over 50%, diesel price goes up by 42% | What led to this steep hike

Sun, Aug 07, 2022

The South Asian country`s $416 billion economy has been one of the fastest-growing in the world for years.

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Oil prices rise as traders await OPEC+ meeting

Oil prices rise as traders await OPEC+ meeting

Tue, Nov 02, 2021

Oil prices advanced on Monday as traders are awaiting a key meeting of the Organization of the Petroleum Exporting Countries and its allies, collectively known as OPEC+.

Global oil prices rise to multi-month high levels over falling US inventories, rising demand

Global oil prices rise to multi-month high levels over falling US inventories, rising demand

Mon, Sep 27, 2021

Crude oil futures increased on Monday over dwindling inventories with US stockpiles near a three-year low while demand picking up rapidly post the pandemic waves and projections suggesting that it would be stronger than expected in the near term.

WTI Crude: Oil prices fall but hold near three-month high on trade deal agreement

WTI Crude: Oil prices fall but hold near three-month high on trade deal agreement

Mon, Dec 16, 2019

WTI Crude: Oil prices fell but remained near three-month highs on Monday after the United States and China agreed to an initial trade deal, a move market participants said could stoke oil demand and boost trade flows.

Oil prices slip on uncertainty over US-China trade deal, surging inventories

Oil prices slip on uncertainty over US-China trade deal, surging inventories

Fri, Nov 08, 2019

Crude oil futures fell on Friday amid lingering uncertainty on whether, and when, the United States and China will agree a long-awaited deal to end their bitter trade dispute, the gloom compounded by rising crude inventories in the United States.

Oil prices dip despite latest US-China trade talks

Oil prices dip despite latest US-China trade talks

Thu, Oct 10, 2019

China, the world`s biggest oil importer, has lowered expectations of a deal from the talks on Thursday and Friday. U.S. President Donald Trump, meanwhile, has proposed to increase tariffs on about $250 billion of Chinese goods to 30% from 25% on Oct. 15 if there are no signs of progress.

Oil prices rebound on lower output from US, Russia, OPEC

Oil prices rebound on lower output from US, Russia, OPEC

Tue, Oct 01, 2019

Front-month prices for both contracts posted their largest quarterly falls this year on Monday, hurt by a slowdown in global economic growth amid the U.S.-China trade war.

Saudi Aramco hires UBS, Deutsche as bookrunners for its IPO: Sources

Saudi Aramco hires UBS, Deutsche as bookrunners for its IPO: Sources

Sat, Sep 21, 2019

Aramco finalised nine banks for top roles as global coordinators in recent weeks, Reuters has reported. More banks are expected to be named in junior roles, the sources said.

Oil slips on trade fears but soars in week after Saudi production attacked

Oil slips on trade fears but soars in week after Saudi production attacked

Sat, Sep 21, 2019

US shale producers pounced on the chance to lock in future revenue for this year and next after oil prices surged by the most in 30 years early this week following the attack, sources familiar with the money flows said.

Oil price jumps nearly 15% in record trading after attack on Saudi facilities

Oil price jumps nearly 15% in record trading after attack on Saudi facilities

Tue, Sep 17, 2019

Brent crude, the international benchmark, settled at $69.02 a barrel, rising $8.80, or 14.6%, its biggest one-day percentage gain since at least 1988. Brent futures saw more than 2 million contracts traded, an all-time daily volume record, Intercontinental Exchange spokeswoman Rebecca Mitchell said.

Oil prices rise on European stock draw despite demand slowdown forecast

Oil prices rise on European stock draw despite demand slowdown forecast

Sat, Aug 10, 2019

The IEA said global oil demand to May from January grew at its slowest since 2008, hurt by mounting signs of an economic slowdown and a ramping up of the U.S.-China trade war.

Oil slumps to seven-month low on global trade tensions, surprise US stock build

Oil slumps to seven-month low on global trade tensions, surprise US stock build

Wed, Aug 07, 2019

The oil markets extended losses after government data showed that U.S. crude stockpiles rose unexpectedly last week, increasing 2.4 million barrels, compared with analysts` expectations for a decrease of 2.8 million barrels.

WTI Crude: Oil prices dip on fourth straight day

WTI Crude: Oil prices dip on fourth straight day

Thu, Jul 18, 2019

Oil prices fell on Thursday, extending declines into a fourth day, after official data showed US stockpiles of products like gasoline rose sharply last week.

WTI Crude: Oil prices nosedive 3% on ease in US-Iran tension

WTI Crude: Oil prices nosedive 3% on ease in US-Iran tension

Wed, Jul 17, 2019

Oil prices turned lower on Tuesday, falling more than 3% after US President Donald Trump said progress has been made with Iran, signalling tensions could ease in the Mideast.

WTI Crude: Oil slips for a second straight day as US Gulf of Mexico output returns

WTI Crude: Oil slips for a second straight day as US Gulf of Mexico output returns

Tue, Jul 16, 2019

WTI Crude: Oil prices fell for a second day on Tuesday as more production facilities returned to operation in the US Gulf after Hurricane Barry swept through over the weekend.

Storm Barry cuts 73 pct of US offshore oil production: US government

Storm Barry cuts 73 pct of US offshore oil production: US government

Mon, Jul 15, 2019

Tropical Storm Barry has cut 73%, or 1.38 million barrels per day (bpd), of crude oil production in the US-regulated areas of the Gulf of Mexico, the US BSEE said.

US-Iran tension: Oil prices dip on signs of slowing American demand, economic concerns

US-Iran tension: Oil prices dip on signs of slowing American demand, economic concerns

Thu, Jul 04, 2019

US inventories fell less than expected as U.S. refineries last week consumed less crude than the week before and processed 2% less oil than a year ago, the EIA data showed, despite being in the midst of the summer gasoline demand season.

Oil prices dip on demand worries despite OPEC cut extension till March 2020

Oil prices dip on demand worries despite OPEC cut extension till March 2020

Tue, Jul 02, 2019

OPEC is slated to meet with Russia and other producers, an alliance known as OPEC+, later on Tuesday to discuss supply cuts amid surging US output.

Oil prices fall as US stockpiles rise, but Middle East tensions support

Oil prices fall as US stockpiles rise, but Middle East tensions support

Wed, May 15, 2019

Crude inventories climbed by 8.6 million barrels in the week to May 10 to 477.8 million, compared with analyst expectations for a decrease of 800,000 barrels.

Oil prices rise to highest level since November 2018; Check reasons

Oil prices rise to highest level since November 2018; Check reasons

Mon, Feb 18, 2019

The Organization of the Petroleum Exporting Countries (OPEC), as well as some non-affiliated producers like Russia, agreed late last year to cut output by 1.2 million barrels per day (bpd) to prevent a large supply overhang from swelling more.

Saudi 2019 budget boosts spending in bid to spur sluggish economy

Saudi 2019 budget boosts spending in bid to spur sluggish economy

Tue, Dec 18, 2018

The economy shrank last year and, although the government estimates it grew 2.3 percent in 2018, that is much slower than the boom years early this decade - and not enough to put much of a dent in a record jobless rate of 12.9 percent among Saudis.

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