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Global crude oil News

08 Mar 2022

Petrol, diesel rates remain unchanged across cities even as crude oil boils

The central government reduced excise duty on November 4, 2021, to provide relief from historically high prices. The government reduced the duty on petrol by Rs 5 per litre and on diesel by Rs 10 per litre, resulting in significant reductions in fuel prices. Later, in December 2021, the Delhi government cut the value-added tax on petrol from 30% to 19.40%.

10 Jun 2016

Oil price of up to $60 will not hurt fiscal maths: Jayant Sinha

As crude oil price hit an 11-month high of USD 50 per barrel, the government today said its fiscal maths and inflation calculations will not be impacted if the commodity stays below the USD 60 mark.

14 Jan 2015

Oil prices dip further in Asian trade

US benchmark West Texas Intermediate (WTI) for February delivery was down 34 cents at $45.55 a barrel in late morning trade and Brent crude for February dropped 43 cents to $46.16.

06 Jan 2015

Oil hits fresh 5-1/2-year lows; Brent below $53

West Texas Intermediate (WTI) for February, the US benchmark, rose 24 cents to USD 50.28 in late-morning trade. Brent crude rose for February rose 39 cents to USD 53.50.

01 Dec 2014

Oil hits five-year lows in longest losing streak since 2008 crisis

Both US crude and Brent have fallen for five straight months, oil`s longest losing streak since the 2008 financial crisis.

21 Nov 2014

Oil prices rise on fresh hopes of OPEC output trim

US benchmark West Texas Intermediate for January delivery climbed 48 cents to USD 76.33 on the contract's first day of trading.

20 Nov 2014

Oil prices rise in Asian trade

Analysts say the stance of Gulf nations within the OPEC will be crucial for a positive decision on reducing supplies to boost prices, which have fallen around 30 percent since June.

17 Nov 2014

Oil prices down in Asian trade

Singapore`s United Overseas Bank (UOB) said expectations are for the recent price plunge to "force OPEC to cut production".

12 Nov 2014

Global crude oil price of Indian basket falls below $80 per barrel

The international crude oil price of Indian Basket as computed today by Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas fell to USD 79.11 per barrel on Tuesday.

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