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Oil hits one-month high near $55 on tighter supplies

Oil hits one-month high near $55 on tighter supplies

Oil hit a one-month high near $55 a barrel on Wednesday as a drop in US crude inventories raised hopes that OPEC-led supply restraint is clearing a glut, while an outage at a UK North Sea oilfield lent support.

Oil dives 2%, heads for weekly loss as US rigs rise

Oil prices fell 2 percent on Friday, with losses accelerating after the U.S. oil rig count rose for a fourth week in a row, putting crude on track for a weekly loss and dragging Brent to two-month lows.

Oil plunges more than 6.0% as Brexit looms

Oil plunges more than 6.0% as Brexit looms

World oil prices plunged more than 6.0 percent in Asia Friday after early results of a historic vote showed Britain increasingly moving towards bolting out of the European Union.

Saudi prince unveils sweeping plans to end "addiction" to oil

The powerful young prince overseeing Saudi Arabia`s economy unveiled ambitious plans on Monday aimed at ending the kingdom`s "addiction" to oil and transforming it into a global investment power.

Oil prices dip on continued oversupply, despite news of meeting to freeze output

Crude oil prices dipped in early trading on Friday as reports of a meeting by oil producers to freeze output failed to convince traders that enough effort was being made to rein in ballooning global oversupply.

Oil slumps on IEA’s gloomy market outlook

Oil resumed heavy falls on Tuesday, erasing earlier gains in highly volatile trade, after the International Energy Agency issued a gloomy market outlook.

Oil dives to fresh 12-year low under $27

Oil dives to fresh 12-year low under $27

Oil plunged to fresh 12-year lows under US$27 on Wednesday (Jan 20), slammed by gloomy economic forecasts, China's slowdown and abundant crude supplies.

Oil heads towards $27 per barrel as IEA warns market could 'drown in oil'

Oil heads towards $27 per barrel as IEA warns market could 'drown in oil'

Prices have crashed about 75 percent since mid-2014, hit by a perfect storm of a supply glut, weak demand, a slowing global economy and a strong dollar.

Oil plummets to $29 per barrel, dragging world stocks lower

Oil plummets to $29 per barrel, dragging world stocks lower

Oil prices plummeted to $29 a barrel on Friday on the impending resumption of Iranian oil exports into an already flooded market as international sanctions against the country are lifted, dragging equity indexes around the world sharply lower.

Brent falls to another 12-year low on oversupply gloom

Brent falls to another 12-year low on oversupply gloom

It was the second time in two days for Brent, the global benchmark, to drop below $30 a barrel.

Oil down again to 12-year low; $30 handle looks more likely

Brent settled down 48 cents at $33.75, after sliding to a low of $32.16, a level last seen in April 2004.

Oil extends losses, nears $33 a barrel

Oil extends losses, nears $33 a barrel

Oil prices plunged close to $33 a barrel on Thursday as crude extended losses on rising US energy stockpiles and China's weakening currency.

Iran-Saudi crisis punches another hole in OPEC unity

Iran-Saudi crisis punches another hole in OPEC unity

Escalating diplomatic tensions between Iran and Saudi Arabia have added fresh strains on OPEC's unity as the cartel grapples with a common response to rock-bottom oil prices, experts said.

Extend pricing freedom to existing fields: Oil cos to government

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.

Stung by low oil prices, Saudi Arabia makes unprecedented subsidy cuts

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.  

Oil prices subdued in Asia

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. 

Crude oil outlook for 2016

Crude oil outlook for 2016

Crude oil outlook for 2016

Oil rises, WTI and Brent at parity ahead of US supply report

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.

US Congress decides to lift 40-year ban on oil export

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.

 

Know why petrol price in India is so high despite oil in international market at 11-year low

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.