Crude Oil

China rebuffs US criticism of relations with oil-rich Venezuela

China rebuffs US criticism of relations with oil-rich Venezuela

China`s support for Venezuela has benefited ordinary people and been broadly welcomed, the foreign ministry said on Monday after the U.S. Treasury accused China of aiding Venezuelan President Nicolas Maduro`s government with murky oil-for-loan investments. 

Feb 05, 2018, 16:36 PM IST
Brent oil hits $71 for 1st time since 2014 as dollar drops, US stocks decline

Brent oil hits $71 for 1st time since 2014 as dollar drops, US stocks decline

Analysts said that rising oil prices would likely start to have an inflationary effect.

Jan 25, 2018, 11:26 AM IST
India's 2017 oil demand growth posts lowest gain since 2013

India's 2017 oil demand growth posts lowest gain since 2013

The low growth also coincided with another year of weak, albeit improving, new vehicle sales.

Jan 11, 2018, 11:17 AM IST
Oil hits highest since mid-2015, then dips

Oil hits highest since mid-2015, then dips

It was the first time since January 2014 that the two crude oil benchmarks opened the year above $60 per barrel, buoyed by large anti-government rallies in Iran and ongoing supply cuts led by OPEC and Russia.

Jan 03, 2018, 00:04 AM IST
Oil eases as traders, investors grow edgy ahead of OPEC

Oil eases as traders, investors grow edgy ahead of OPEC

 Oil has been under pressure for the last two weeks since peaking in early November.

Nov 21, 2017, 09:43 AM IST
Petrol, diesel prices to cost more as crude oil hits 28-month high

Petrol, diesel prices to cost more as crude oil hits 28-month high

Globally, oil prices rose 3.5 percent on Monday, hitting the highest since early July 2015, as Saudi Arabia's crown prince cemented his power with an anti-corruption crackdown, while the US rig count fell and markets continued to tighten.

 

Nov 07, 2017, 12:07 PM IST
Oil prices dip on record US exports, but OPEC-led supply cuts lend support

Oil prices dip on record US exports, but OPEC-led supply cuts lend support

The declines came after the Energy Information Administration (EIA) said late on Wednesday that US crude oil exports jumped to 1.98 million barrels per day (bpd) last week, surpassing the 1.5 million bpd record set the previous week.

Oct 05, 2017, 11:01 AM IST
US oil dips below $50 per barrel over doubts recent rally will last

US oil dips below $50 per barrel over doubts recent rally will last

Traders said the drops came over concerns that a third-quarter market rally that had lifted Brent to mid-2015 highs by late September had been overdone.

Oct 04, 2017, 10:52 AM IST
Oil rises to 26-month high; Turkey threatens to cut Kurdistan oil pipeline

Oil rises to 26-month high; Turkey threatens to cut Kurdistan oil pipeline

London Brent crude for November delivery was up 1 cent at USD 59.03 a barrel after settling up 3.8 percent on Monday. Earlier it rose to USD 59.49, the highest since July 10, 2015.

Sep 26, 2017, 13:54 PM IST
Eight core sectors growth slips to 2.4% in July

Eight core sectors growth slips to 2.4% in July

The growth of eight core sectors slowed to 2.4 percent in July due to contraction in output of crude oil, refinery products, fertiliser and cement.

Aug 31, 2017, 19:29 PM IST
IOC to make first ever crude oil purchase from US this year

IOC to make first ever crude oil purchase from US this year

The official said IOC had last month sealed a deal to import 1.6 million barrels of crude from the US for delivery in the first week of October at its Paradip refinery in Odisha -- the first ever such purchase of US crude by an Indian state-run refiner.

Aug 10, 2017, 14:35 PM IST
HPCL Q1 net profit dips 56% on lower margins

HPCL Q1 net profit dips 56% on lower margins

The company earned USD 5.86 on turning every barrel of crude oil into fuel during April-June, 2017-18 as compared to a gross refining margin of USD 6.83 per barrel in the same period of 2016-17, he said.

Aug 04, 2017, 17:49 PM IST

31 held as syndicate that stole oil worth crores from Cairn India's oildfield busted

The Rajasthan police have claimed to have busted an inter-state syndicate that allegedly stole crude oil worth crores of rupees from Cairn India's oilfield.

Jul 23, 2017, 23:11 PM IST
India buys first ever US crude oil, to step up purchases

India buys first ever US crude oil, to step up purchases

The purchase comes after Indian Prime Minister Narendra Modi`s visit to the US in June when President Donald Trump said his country looked forward to exporting more energy products to India.

Jul 10, 2017, 12:32 PM IST
Oil languishes near multi-month lows on glut fears

Oil languishes near multi-month lows on glut fears

Oil prices held near multi-month lows on Wednesday as investors discounted evidence of strong compliance by OPEC and non-OPEC oil producers with a deal to cut a global output.

Jun 21, 2017, 13:01 PM IST
OPEC set to prolong oil output cuts by nine months

OPEC set to prolong oil output cuts by nine months

OPEC is likely to extend production cuts for another nine months, ministers and delegates said on Tuesday as the oil producer group meets this week to debate how to tackle a global glut of crude.

May 24, 2017, 11:07 AM IST

China's April trade growth slows as commodities, electronics demand cools

China`s April imports rose 11.9 percent, cooling from March`s 20.3 percent rise, official data showed on Monday, and missing analysts` expectations for an 18 percent rise.

May 08, 2017, 14:30 PM IST

Oil prices claw back some losses, but oversupply still weighs

US gasoline stocks posted a counter-seasonal build of 1.5 million barrels, because of rising refining activity.

Apr 20, 2017, 11:03 AM IST
Core sector growth slows down to 1% in February

Core sector growth slows down to 1% in February

The growth of eight core sectors slowed down to 1 percent in February mainly due to contraction in output of crude oil, natural gas, refinery products, fertiliser and cement.

 

Mar 31, 2017, 17:39 PM IST
Oil slips towards $50 on doubts over duration of output cut

Oil slips towards $50 on doubts over duration of output cut

Oil fell further towards $50 a barrel on Monday, pressured by uncertainty over whether an OPEC-led production cut will be extended beyond June in an effort to counter a glut of crude.

Mar 27, 2017, 17:30 PM IST