Crude oil eases off 4-month high as speculators doubt deal to cut output
Oil eased off four-month highs on Monday as doubts over oil producers reaching a meaningful output cut deal brought some speculators to unwind bullish bets.
Oct 10, 2016, 15:37 PM IST
US oil prices top $50 a barrel for 1st time since June
Oil prices in New York rose above $50 a barrel on Thursday for the first time since June, boosted by lower US petroleum inventories.
Oct 06, 2016, 19:23 PM IST
Oil prices fall as investors cash in on OPEC deal rally
Oil prices fell on Friday as investors cashed in on a 6-percent rise in just one day after OPEC members agreed to reduce output for the first time in eight years to stifle a two-year price slide.
Sep 30, 2016, 15:55 PM IST
OPEC supply cut deal to add as much as $10 to H1 2017 oil prices: Goldman
Goldman Sachs said the deal reached by OPEC crude producers on Wednesday to curb output should add $7 to $10 to oil prices in the first half of next year.
Sep 29, 2016, 11:58 AM IST
OPEC agrees modest oil output curbs in first deal since 2008
OPEC agreed on Wednesday modest oil output cuts in the first such deal since 2008, with the group`s leader Saudi Arabia softening its stance on arch-rival Iran amid mounting pressure from low oil prices.
Sep 29, 2016, 11:18 AM IST
Oil edges higher ahead of OPEC meeting
Oil prices rose modestly in Asia on Monday ahead of a producers` meeting this week that might agree to cap supplies.
Sep 26, 2016, 13:34 PM IST
Oil tumbles 3% after both IEA, OPEC see glut persisting
Oil prices fell as much as 3 percent on Tuesday after both the world`s energy watchdog and OPEC revised forecasts that signalled the global crude glut could persist for much longer than expected.
Sep 14, 2016, 03:36 AM IST
Oil prices rebound on weaker dollar despite bigger-than-expected US stock build
Oil prices rose in early Asian trade on Thursday, rebounding on a weaker U.S. dollar after falling around 3 percent or more in the previous session following a surprisingly large build in U.S. crude and distillate stocks last week.
Sep 01, 2016, 06:11 AM IST
Oil falls amid supply glut, lower prospects of output freeze
Amid the recent fluctuation in global crude oil rates, prices fell on Friday, in a situation of supply glut following indications from Saudi Arabia that no output freeze was in the offing.
Aug 26, 2016, 18:30 PM IST
US crude down 3% after big stockpile build report
Oil prices tumbled on Wednesday, with U.S. crude falling more than 3 percent, after an unexpectedly large inventory build in the world`s biggest oil consumer renewed worries about oversupply.
Aug 24, 2016, 22:19 PM IST
Oil up, Brent over $50/bbl at 6-week high on OPEC freeze talk
Oil prices rose for a sixth straight day, with Brent crude touching a six-week high above $50 a barrel on Thursday as the world`s biggest producers prepared to discuss a possible freeze in production levels.
Aug 18, 2016, 22:51 PM IST
Oil prices extend gains on Saudi minister's comments
Oil prices climbed further on Friday as investors were digesting the latest remarks from Saudi Energy Minister.
Aug 13, 2016, 09:38 AM IST
Only Rs 1,764 cr subsidy saved by DBT scheme on LPG: CAG
Drilling holes into government claims of huge subsidy savings from direct benefit transfer (DBT), the CAG on Friday said only Rs 1,764 crore in subsidy was saved on LPG on account of the scheme and the bulk of Rs 21,552 crore was due to sharp fall in global prices.
Aug 12, 2016, 14:03 PM IST
Pradhan pitches for cut in oil cess
Petroleum Minister Dharmendra Pradhan has asked Finance Ministry to cut cess on domestically produced crude oil to 10-12 per cent from current 20 percent to provide relief to producers hit by slump in prices.
Aug 03, 2016, 17:02 PM IST
Thousands of jobless Asians stranded in Saudi Arabia
Thousands of jobless Indians, Filipinos and Pakistanis are stranded and destitute in Saudi Arabia after the plunge in oil prices sparked construction layoffs.
Aug 03, 2016, 01:58 AM IST
Asian shares edge up as soft U.S. GDP cuts Fed rate hike bets
Asian shares ticked up slightly on Monday after disappointing U.S. economic growth data reduced expectations of a rate hike by the U.S. Federal Reserve in the next few months.
Aug 01, 2016, 08:11 AM IST
Oil prices decline on glut worries
Oil prices extended losses on Thursday after data showed US crude stockpiles gained unexpectedly, deepening market concerns on oversupply.
Jul 29, 2016, 06:26 AM IST
Iraq overtakes Saudi Arabia as India's top oil seller
Iraq has overtaken Saudi Arabia to become India's top crude oil supplier while Iran has grabbed the fourth biggest exporter slot post lifting of sanctions.
Jul 25, 2016, 16:28 PM IST
Oil prices dip in Asia as oversupply worries return
Oil prices turned lower again in Asia on Wednesday after data indicated a rise in US stockpiles, reigniting concerns about a supply glut, while profit-takers stepped in after the previous day's surge.
Jul 13, 2016, 10:40 AM IST
Government may not cut excise duty on petrol, diesel for now
Government may not cut excise duty on petrol and diesel in the near-term if it accepts the suggestions made in the approach paper submitted by Chief Economic Adviser for maintaining status quo when oil prices can climb by another USD 15 a barrel.
Jul 03, 2016, 13:25 PM IST
