Extend pricing freedom to existing fields: Oil cos to government
Oil and gas industry body PetroFed, whose members include state-owned ONGC and private major Reliance Industries Ltd, has asked the government to allow natural gas pricing freedom to existing fields like KG-D6.
Jan 04, 2016, 18:50 PM IST
Stung by low oil prices, Saudi Arabia makes unprecedented subsidy cuts
Long accustomed to cheap utilities and some of the lowest petrol prices in the world, Saudis woke to a shock on Tuesday as authorities made massive subsidy cuts after falling oil prices caused a record deficit.
Dec 29, 2015, 18:11 PM IST
Oil prices subdued in Asia
Oil prices remained weak in Asia on Tuesday on tepid economic data from Japan and indications that major crude exporter Saudi Arabia's 2016 budget is based on prices staying low.
Dec 29, 2015, 11:28 AM IST
Oil rises, WTI and Brent at parity ahead of US supply report
Oil prices rose in Asian trading hours on Wednesday after the US benchmark WTI overtook its European counterpart Brent in reaction to the lifting of a 40-year US crude exports ban.
Dec 23, 2015, 11:19 AM IST
US Congress decides to lift 40-year ban on oil export
The US is set to lift a four-decade ban on export of oil, a move that may benefit countries like India by giving them an option to purchase crude from non-Middle Eastern nations.
Dec 17, 2015, 11:37 AM IST
Know why petrol price in India is so high despite oil in international market at 11-year low
Despite deregulation, prices of petrol and diesel in India are very high than that of international crude oil.
Dec 15, 2015, 00:17 AM IST
Why Indian petrol prices are high despite lower crude prices? Part 1
Three years after deregulation, petrol prices still seem to be in the control of the government.
Dec 14, 2015, 23:01 PM IST
Investor nerves tested with yuan, oil, Fed in play
Volatility swept through world markets on Monday with China`s yuan hitting a fresh multi-year year low and oil`s continued travails adding to nervousness before an expected hike in US interest rates later this week.
Dec 14, 2015, 17:15 PM IST
US crude oil holds near 2009 lows as global glut persists
US crude prices remained near 2009 lows in early Asian trading on Friday as oil output in the Middle East continued to rise despite an existing global glut.
Dec 11, 2015, 11:25 AM IST
Asia stocks head for weekly loss, China yuan hits 4-1/2-year low
Asian shares slumped on Friday, on track for a weekly loss as plunging crude prices heightened fears about receding global growth, while China`s yuan hit its weakest level in more than four years.
Dec 11, 2015, 11:18 AM IST
Oil hits near seven-year low as global glut concerns persist
US crude fell to a near seven-year low on Thursday, as oversupply concerns persisted, and prices were seen as vulnerable to further weakness in the run up to year-end.
Dec 10, 2015, 21:56 PM IST
OPEC says cheap oil to hit rival supply harder in 2016
OPEC forecast on Thursday that oil supply from non-member countries will fall more sharply next year, a development that would suggest its strategy reaffirmed last week of defending market share not prices is working.
Dec 10, 2015, 18:18 PM IST
Oil prices rise but stay near multi-year lows
Oil prices crept higher Wednesday but still struggled near multi-year lows as analysts warned the weakness will continue past next year.
Dec 09, 2015, 19:11 PM IST
Oil rises as US crude inventories dip, Japan machinery orders bounce
Oil prices rose on Wednesday as U.S. crude stocks dipped, while Japan posted rising machinery orders, lending the market support amid an ongoing supply glut that could see the market run out of onshore crude storage sites in the first quarter of 2016.
Dec 09, 2015, 13:33 PM IST
Oil prices edge up from near 7-year lows as China oil imports surprise
Crude prices edged away from nearly 7-year lows as China reported strong commodity imports despite economic weakness.
Dec 08, 2015, 13:29 PM IST
US crude down 4% to hit 6-1/2-year low on surprise stock build
US crude oil slumped over 4 percent on Wednesday to hit a 6-1/2-year low and almost break below $40 per barrel, as a huge unexpected stockpile build in the United States reinforced concerns about a growing global oil glut.
Aug 20, 2015, 08:59 AM IST
Iran deputy oil min says OPEC unlikely to cut output
The Organisation of the Petroleum Exporting Countries (OPEC) is unlikely to implement a production cut at its next meeting in June, a senior Iranian official said on Monday.
May 18, 2015, 10:22 AM IST
OPEC oil output surge boosts surplus, despite higher demand
OPEC`s oil output has surged in March, the producer group said in a report, adding to excess supply in the market despite more evidence that its strategy of letting prices fall to hurt other producers is taking effect.
Apr 16, 2015, 19:38 PM IST
Brent falls towards $54, heads for third weekly loss
Brent crude fell towards $54 a barrel on Friday and was on track for its third weekly loss, hurt by oversupply worries after Kuwait said OPEC had no choice but to maintain output levels.
Mar 20, 2015, 12:37 PM IST
