Crude Oil

Moody's cuts India's growth forecast for 2022 to 9.1 from 9.5, cites oil price hike

Moody's Investors Service on Thursday revised its India's GDP forecast down to 9.1 per cent from 9.5 per cent for 2022.

Mar 17, 2022

crude oil, UAE-based Indian national sanctioned by US for smuggling Iranian oil.

Brent crude prices surge above $110 per barrel

Concerns over lower supply amid escalating Russia-Ukraine conflict pushed up global crude oil prices to $110 per barrel on Tuesday.

Mar 2, 2022

Petrol, diesel prices may go up by over Rs 6 per litre, says ICRA; Here's why

High crude oil prices, due to geo-political concerns, can spike petrol, and diesel prices by Rs 6 to Rs 8 per litre, ratings agency ICRA said.

Feb 26, 2022

Customs reduces clearance time for edible oil consignments at ports

Sunflower oil prices may increase if Russia-Ukraine crisis blows up

Indian sunflower oil makers are hoping that the Russia and Ukraine crisis resolves smoothly so that the edible oil shipments resume soon from Ukraine.Since Russia and Argentina are there as alternate sources,there may not be any major impact on the retail prices of sunflower oil.

Feb 23, 2022

Fuel rates hiked again, petrol at Rs 106.19 a litre in Delhi, Rs.112.11 in Mumbai

Prior to October 13-16, petrol prices had risen on four days in a row by 35 paise per litre.

Oct 20, 2021

Nearing elections, softening crude restrain oil firms from hiking prices

Fuel prices in the country have remained steady for over a fortnight now as softening crude and upcoming elections in several states later this months has kept Oil companies from revising the retail prices.

Mar 18, 2021

How Biden's presidency could be huge win for Middle East | Explained

"A Biden presidency is likely to be a huge win for the Middle East to gain back the market share as it restricts shale production and can be supportive for crude oil prices," the report said.

Oct 17, 2020

Crude oil or cooking oil? For some US refiners, it's now a choice

Refiners have always produced fuel using crude oil. Now some are using grease.

Aug 27, 2020

India's crude imports fall to lowest in over a decade in July

India's crude oil imports fell in July to their lowest since March 2010 as fuel demand slowed amid renewed coronavirus-induced lockdowns and closures of refinery units for maintenance, government data showed on Thursday.

Aug 21, 2020

Donald Trump suspends immigration into US: 'Need to protect the jobs of American citizens'

US President Donald Trump said late on Monday night, April 20 that he will be signing an executive order to temporarily suspend immigration into the United States.

Apr 21, 2020

Oil jumps to highest in more than a week after Libyan shutdowns

In the latest development in a long-running conflict in Libya, the National Oil Corporation (NOC) on Sunday said two big oilfields in the southwest had begun shutting down.

Jan 20, 2020

nse at alltime high, nse at historic high, nse at lifetime high, nse crosses 9400, sensex at lifetime high, sensex at new high, imd predicts normal rainfall

Market today: Sensex up by 460 points, Nifty over 12,000 mark as oil cools marginally

The price of oil surged in the last two trading sessions after a drone strike by the US in Baghdad killed top Iranian military commander Qassem Soleimani.

Jan 7, 2020

Sensex, Nifty stumble as oil jumps after US air strikes Baghdad International Airport

India, the world's third-biggest oil consumer, imports about 80 per cent of its oil needs, making it highly susceptible to crude price swings.

Jan 3, 2020

Oil hits three-month highs on upbeat US and Chinese economic data

Data on Friday showed profits at China's industrial firms rose at the fastest pace in eight months in November.

Dec 27, 2019

Make in India: Govt may halve domestic crude cess to push oil, gas exploration

Cess on domestic crude is currently levied at the rate of 20 per cent of the value of oil. This may come to 10 per cent.

Dec 25, 2019

Government mulling premium on petrol, diesel prices on BS-VI switchover

The global oil market has largely remained flat for the past several months due to slower demand.

Dec 22, 2019

Petrol, diesel prices stable for 2nd day: Check latest rates in your city

In this month so far, the petrol prices have increased by Rs 1.3 while that of diesel has increased by 4 paise.

Nov 21, 2019

OPEC crude output to average 29.6m barrels a day: EIA

In its October Short-Term Energy Outlook, EIA also forecast that annual average OPEC crude oil production will average 29.8 million b/d in 2019, down by 2.1 million b/d from 2018.

Oct 9, 2019

Saudi plans major investment in India's refining, petrochemical sector

The Kingdom's state-owned Saudi Aramco is a joint venture partner of the $44 billion-Ratnagiri Refinery and Petrochemicals Ltd, which is reportedly decided to establish its refining and petrochemical facilities in Raigad district of Maharashtra.

Sep 30, 2019

Iran warns of 'strong step' away from nuclear deal if Europe cannot offer new terms

Iran's oil should be bought and its money should be accessible to return to the country, said Ali Rabiei, an Iranian government spokesman.

Sep 2, 2019

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