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oil prices News
Make in India boost, oil cess may be halved
Tue, Jan 26, 2021
The government may give a `Make in India` push to oil and gas explorers, as it is considering a proposal to almost halve cess on domestic crude oil to encourage exploration activity and allow Covid-hit oil producers to protect their margins.
Oil prices edge lower amid doubts over OPEC cuts
Tue, Nov 05, 2019
Oil prices slipped on Tuesday amid doubts over whether OPEC and other countries will continue to restrain output, edging lower after two days of gains on U.S. economic data and hopes for a Washington-Beijing trade deal.
Oil prices edge down; eyes on data amid trade deal hopes
Mon, Nov 04, 2019
Oil prices eased on Monday as traders remained cautious ahead of fresh European and U.S. economic data, despite hopes for some resolution to the U.S.-China trade row that has hurt global economic growth and crimped energy demand.
Oil prices drop after three-day rally amid economic growth concerns
Fri, Oct 25, 2019
Oil prices declined on Friday after three straight days of gains, as gloomy economic growth forecasts renewed concerns over the outlook for demand. Brent crude was down 36 cents, or 0.6%, at $61.31 by 0318 GMT.
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.
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.
Petrol, diesel prices in India may shoot up by Rs 5-6 a litre after drone attack in Saudi: Kotak
Mon, Sep 16, 2019
A recent report by Kotak said that in light of the sharp rise in international crude oil prices, Indian oil marketing companies (OMCs) may increase the retail price of diesel and gasoline by Rs 5 to 6 per litre in the following fortnight.
WTI Crude: Oil steadies as Saudi, Kuwait signals offset demand fears
Tue, Aug 13, 2019
WTI Crude: Oil prices were little changed on Monday as expectations that producers would continue to reduce global supplies due to the US-China trade war.
US-China trade war: Oil drops as slower global economic growth expected
Fri, Jul 26, 2019
A global economic growth rut risks deepening, despite expectations that major central banks will cut rates or ease policy further, according to Reuters polls of over 500 economists who remain worried about the US-China trade war.
WTI Crude Outlook: Here is what Comdex experts have to say on oil prices future
Fri, Jun 21, 2019
After the escalation of geopolitical tension, especially between the US and Iran, the crude prices have become volatile putting investors in limbo. However, experts are of the opinion that it won't last for long and the demand-supply constraint would remain as it was earlier.
Oil rises amid surging China crude imports, US sanctions
Wed, May 08, 2019
OPEC is due to meet in June at its headquarters in Vienna, Austria, to decide its output policy for the rest of the year.
Oil prices near 2019 highs after US ends Iran sanction waivers
Tue, Apr 23, 2019
Oil prices hovered near 2019 peaks in early trading on Tuesday after Washington abruptly moved to end all Iran sanctions waivers by May.
Oil prices dip on global growth worry, possible output rise
Wed, Apr 10, 2019
Oil fell from five-month highs on Tuesday after the International Monetary Fund cut its global economic growth forecasts and as Russia signalled it may retreat from its production-cutting deal with OPEC.
Oil prices near 2019 highs ahead of official US weekly data
Wed, Mar 20, 2019
Oil prices held close to four-month highs on Tuesday on expectations that OPEC would continue production cuts through the end of the year and ahead of official weekly U.S. crude inventory data.
Elections, USD strength and oil price to determine rupee direction: Report
Sun, Dec 30, 2018
"In our assessment, consumer price inflation (CPI) is likely to average 4 per cent in 2019. Benign food inflation, positive base effects, recent correction in oil prices and INR stability is likely to keep inflationary pressures under check," it said.
Oil prices steady near year-and-a-half lows ahead of New Year
Sat, Dec 29, 2018
Oil prices steadied on Friday after a week of volatile trading ahead of the New Year holiday, supported by a rise in U.S. equity markets but pressured by worries about a global glut of crude.
Oil prices edge up to $50 after steep slide
Wed, Dec 26, 2018
Oil prices have edged up to $50 a barrel on Wednesday after reaching its lowest since June 2017 on perceptions that a price slide prompted by worries over the global economy had been overdone amid an Opec-led effort to tighten supply. Watch video:
Oil prices claw back some losses after ''Black Friday'' plunge
Mon, Nov 26, 2018
Oil prices on Monday clawed back some losses from a nearly 8-percent plunge the previous session, but Brent failed to hold above $60 per barrel amid generally weak financial markets.
Oil hits 2018 lows on emerging supply glut, OPEC expected to cut
Fri, Nov 23, 2018
Oil prices slumped to 2018 lows on Friday in choppy trading, pulled down an emerging crude supply overhang amid a bleak economic outlook.
Big relief for Modi govt from oil prices now!
Fri, Nov 23, 2018
"The recent decline in oil prices might compress the CAD by around $5 bn-$6 bn from our estimates of $78 bn in current fiscal. This will imply CAD settling down at 2.6 per cent of GDP (previously 2.8 per cent). Additionally, if crude averages $65 and rupee stays at 70, then petrol and diesel prices could fall further on average by Rs 4 or more," the report said.