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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.

Oil sits near half-year lows as global supply overhang weighs

Oil sits near half-year lows as global supply overhang weighs

Oil prices were not far off six-month lows, held down by an ongoing supply overhang that persists despite an OPEC-led effort to cut production and prop up crude markets.

Oil hits 6-week low as OPEC fails to curb oversupply

Oil hits 6-week low as OPEC fails to curb oversupply

Brent crude oil fell 30 cents to USD 46.70 a barrel, its weakest since May 5 and just above six-month lows, before recovering a little to trade around USD 46.90 by 0945 GMT.

Daily revision of petrol, diesel rates from today

Daily revision of petrol, diesel rates from today

After the successful pilot in five cities, state-owned oil companies will from June 16 revise rates on a daily basis across all the 58,000 petrol pumps in the country.

 

OPEC to extend output cuts, to set up OPEC-India Working Group

Even as the OPEC and non-OPEC producers agreed to extend until March 2018 their ongoing oil output cuts, India has reached an understanding with the global oil cartel to establish a joint working group to serve as a forum for "producer-consumer dialogue" to address mutual concerns.

World stocks hit record after Fed minutes, oil up as OPEC meets

World stocks hit record highs on Thursday and the dollar dipped after the US Federal Reserve signalled caution in raising interest rates, while oil prices rose in anticipation of top producers agreeing to extend output cuts for up to a year.

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.

Sudan denies licence extension to OVL; seeks higher taxes

Sudan has denied India's ONGC Videsh Ltd an extension of licence to operate an oilfield as it sought higher royalties and taxes to make up for revenue lost due to drop in oil prices.

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.

OPEC 'optimistic' oil output cuts leading to price recovery

OPEC 'optimistic' oil output cuts leading to price recovery

OPEC members agreed in November to cut production by 1.2 million barrels per day for six months beginning from the start of the year.

Oil prices firm on strong demand, political uncertainty in Syria

Oil prices firm on strong demand, political uncertainty in Syria

US West Texas Intermediate (WTI) crude futures were up 10 cents at $52.34 a barrel.

Inflation to average at 5 % in FY'18: Crisil

CPI inflation is likely to average higher at 5 percent in the current fiscal on expectations of increasing pressure on food prices as well as uptick in global oil and commodity rates, says a Crisil report.

 

Oil hits 3-week highs as OPEC deal extension seen likely

Oil prices jumped for a third day on Thursday to their highest in three weeks after Kuwait gave its backing for an extension of OPEC production cuts in an attempt to reduce global oversupply.

India comfortable with crude oil prices up to $65/barrel: CEA

India comfortable with crude oil prices up to $65/barrel: CEA

Rising global oil prices will not pose a serious risk to the economy if they remain within the range of USD 55-65 a barrel, said chief economic adviser Arvind Subramanian.

 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.

Oil slips $1 on concerns U.S. production is rising

Oil slips $1 on concerns U.S. production is rising

Oil fell by $1 a barrel on Monday as signs of growing U.S. production outweighed optimism that many other producers, including Russia, were sticking to a deal to cut supplies in a bid to bolster the market.

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.

Sensex falls for 4th straight day, closes at 2-week low

Sensex falls for 4th straight day, closes at 2-week low

The 50-issue NSE Nifty tumbled 35.10 points, or 0.43 percent, to close 8,104.35 after cracking the key 8,100-mark and touching a low of 8,094.85.

Coal imports likely to decline in December on notes ban, firm prices

Coal imports likely to decline in December on notes ban, firm prices

Coal imports are likley to decline this month as well due to note ban and soaring oil prices in international market. The imports have already dropped by 16 per cent to 14 million tonnes (MT) in November.

FPI bearish stand continues; foreign investors pull out over Rs 19,500 crore

FPI bearish stand continues; foreign investors pull out over Rs 19,500 crore

Over Rs 19,500 crore have been pulled out from capital market this month so far by the foreign investors amid policy rate hike by the US Federal Reserve and increases oil prices.