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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.

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.

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.

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.

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.

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.

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.

 

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.

ONGC takes $239 million hit from royalty payments

ONGC takes $239 million hit from royalty payments

Oil and Natural Gas Corp will take a 16 billion rupee ($239 million) hit to its quarterly earnings to account for previous royalty payments to two states.

Iran becomes 3rd largest oil supplier for India

Iran becomes 3rd largest oil supplier for India

Iran has zipped past the likes of Venezuela and Nigeria to become India's third largest oil supplier as easing western sanctions enabled Indian companies to increase purchases from that country.

 Oil dips over doubts high OPEC compliance with agreed cuts will last

Oil dips over doubts high OPEC compliance with agreed cuts will last

Oil prices dipped on Wednesday over concerns that OPEC producers would not be able to maintain their high compliance so far with output cuts aimed at reining in a global fuel supply overhang.

OPEC countries complying with agreed output cuts: IEA

OPEC countries complying with agreed output cuts: IEA

OPEC countries are largely complying with a landmark deal to reduce the global oil glut, the IEA said Friday, as it predicted that oil demand was likely to be more vigorous than anticipated this year.

Iraq has cut 180,000 bpd as part of OPEC oil deal: Minister

Iraq has cut 180,000 bpd as part of OPEC oil deal: Minister

Iraq has reduced its oil production by around 180,000 barrels per day and plans to cut a further 30,000 bpd before the end of the month, the OPEC member`s oil minister said on Monday.

Oil hits 18-month high as markets eye output cuts

Oil hits 18-month high as markets eye output cuts

Benchmark Brent crude jumped more than 2 percent to a high of $58.37, up $1.55 a barrel and its highest since July 2015.

Petrol price hiked by Rs 2.21 per litre, diesel by Rs 1.79 a litre

Petrol price hiked by Rs 2.21 per litre, diesel by Rs 1.79 a litre

Petrol price was on Friday hiked by Rs 2.21 per litre and diesel by Rs 1.79 a litre in line with global trends.

Big News : OPEC decides to reduce its oil production

OPEC decides to reduce its oil production. Watch complete news story of News 360 for getting detailed updates!

Oil prices jump 8% as OPEC agrees first production cut since 2008

Oil prices jump 8% as OPEC agrees first production cut since 2008

Oil prices jumped more than 8 percent on Wednesday to a five-week high as some of the world`s largest oil producers agreed to curb oil output for the first time since 2008 in a last-ditch bid to support prices.

Oil prices decline on US inventory surge

Oil prices declined on Wednesday in volatile trading as the US reported a 7.7-per cent increase of crude oil inventories.

Iran oil exports hit 2.44 million barrels per day

Iran oil exports hit 2.44 million barrels per day

Iran boosted its oil exports to 2.44 million barrels per day in late October as it regains market share lost during years of international sanctions, its oil minister said Wednesday.

Angolan state oil company mirrors nation's troubles

Angolan state oil company mirrors nation's troubles

Angolan state-owned oil company Sonangol rode the commodities boom that drove the country`s extraordinary growth after civil war ended in 2002, but today it symbolises a national economic crisis.