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Oil Price News
Fuel prices today: Petrol, diesel prices unchanged; check rates in Delhi, Mumbai, other cities
Wed, Jan 02, 2019
Oversupply of crude oil, possible US economic slowdown in 2019 are the major reasons responsible for consistent correction in prices of crude. Stability in the rupee, since a month and consistent fall in crude is positive for the Indian economy.
Oil prices set for first annual decline since 2015
Mon, Dec 31, 2018
Oil prices climbed on the last trading day of the year on Monday, taking a cue from firmer stock markets, but were on track for the first yearly decline in three years amid concerns of a persistent supply glut.
Fuel prices today: Petrol, Diesel fall again; check latest rates
Fri, Dec 28, 2018
Petrol price was reduced by 20 paise while Diesel witnessed a cut of 15 paise as the two commodities are now available at Rs 69.55 and Rs 63.62 a litre, in Delhi.
Festive cheer for commuters! Petrol prices cheapest this year, Diesel rates down too
Thu, Dec 27, 2018
However, crude oil surged 8 per cent in the Wednesday's International market hours, jumping highest in the two years.
Fuel prices today: No change in petrol, diesel cost after Christmas; check rates in major cities
Wed, Dec 26, 2018
There is a huge sigh of relief for the commuters as the petrol touched all time high in October this year. Petrol was selling over the price bracket of Rs 90 per litre in Mumbai which is down by almost 17 per cent now.
Oil price plunges 6 percent as economic slowdown fears grip market
Tue, Dec 25, 2018
U.S. crude futures have hit the lowest level since June 22, 2017, as jitters have grown about the impact of the escalating U.S.-China trade dispute on global growth and crude demand. Brent crude is at its lowest level since Aug. 17, 2017.
Christmas gift for commuters! Petrol prices slashed by 21 paise, diesel down by 19 paise
Mon, Dec 24, 2018
The petrol is selling down by Rs 14 to Rs 16 per litre in metro cities of India as compared to the prices in October 2018. The highest price petrol touched in Delhi was Rs 84 per litre and diesel sold at Rs 75.45 per litre in October this year.
Oil prices steady but remain under pressure from oversupply, global economic growth
Mon, Dec 17, 2018
Oil prices steadied after slipping by around 2 percent last week, but remained under pressure from oversupply and concern over the prospects for global economic growth and fuel demand.
Oil, rupee fail to cheer markets as investors turn wary ahead of polls
Fri, Nov 09, 2018
Key equity indices settled lower on Friday despite a sharp rebound in the domestic currency and a decline in global crude oil prices, as investors turned cautious ahead of key state assembly elections this month and the next.
Oil price dips but markets remain tight due to disruptions, record demand
Thu, Jun 28, 2018
U.S. oil prices dipped away from three-and-a-half year highs on Thursday amid high output from Russia, the United States and Saudi Arabia, although unplanned supply disruptions elsewhere and record demand stemmed a bigger decline.
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.