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US crude down 3% after big stockpile build report

US crude down 3% after big stockpile build report

Oil prices tumbled on Wednesday, with U.S. crude falling more than 3 percent, after an unexpectedly large inventory build in the world`s biggest oil consumer renewed worries about oversupply.

Oil up, Brent over $50/bbl at 6-week high on OPEC freeze talk

Oil up, Brent over $50/bbl at 6-week high on OPEC freeze talk

Oil prices rose for a sixth straight day, with Brent crude touching a six-week high above $50 a barrel on Thursday as the world`s biggest producers prepared to discuss a possible freeze in production levels.

OPEC deal a tough task, as oil output freeze expectations rise

OPEC deal a tough task, as oil output freeze expectations rise

OPEC will probably revive talks on freezing oil output levels when it meets non-OPEC nations next month as top exporter Saudi Arabia appears to want higher prices, according to OPEC sources, although Iran, Iraq and Russia present obstacles to a deal.

Govt open to deliberating on merger of oil firms: Dharmendra Pradhan

Govt open to deliberating on merger of oil firms: Dharmendra Pradhan

Government is open to deliberating on the issue of mega merger of state-owned oil firms for creating a behemoth, Union Minister Dharmendra Pradhan said.

OPEC sees oil glut continuing to ease in 2016-17

OPEC sees oil glut continuing to ease in 2016-17

OPEC said Tuesday it expected the global supply glut to ease further this year and next thanks to reductions in oil output from producers outside the cartel, particularly the United States.

Meet nine of nature's most effective antibiotics

Meet nine of nature's most effective antibiotics

Saudi Arabia unveils first targets in sweeping reform plan

Saudi Arabia unveils first targets in sweeping reform plan

In a press conference in the early hours of Tuesday in Jeddah, officials revealed sweeping plans to create some 450,000 non-government jobs by 2020, boost non-oil revenues and cut the cost of public wages.

India keen on joint development of oil, gas blocks in Qatar

India keen on joint development of oil, gas blocks in Qatar

India Sunday evinced interest in joint exploration of new oil and gas fields as well development of discovered assets in resource-rich Qatar as the two countries decided to focus on enhancing cooperation in the energy sector.

Oil prices dip as Iran says no plan to freeze output

Oil prices dip as Iran says no plan to freeze output

Despite a recent rebound, world crude prices are still at less than half of their levels of June 2014 because of a supply glut, partly fed by Iran's return to world markets in January after the lifting of nuclear-linked Western sanctions.

Oil falls as Fed rate hike speculation sends dollar surging

Oil falls as Fed rate hike speculation sends dollar surging

Oil prices retreated from 2016 highs and snapped a two-day rally on Wednesday, hurt by a surge in the dollar after the US Federal Reserve signalled it could raise interest rates next month.

Latest prices of diesel in major Indian cities

Latest prices of diesel in major Indian cities

Latest prices of diesel in major Indian cities

Latest prices of petrol in major Indian cities

Latest prices of petrol in major Indian cities

Prices of petrol in major Indian cities

Petrol price hiked by Rs 0.83 per litre, diesel by Rs 1.26 a litre

Petrol price hiked by Rs 0.83 per litre, diesel by Rs 1.26 a litre

Oil marketing companies on Monday increased the price of petrol and diesel price by Rs. 0.83/litre & Rs. 1.26/litre respectively with effect from Monday midnight.

Rapidness in Crude , Gold and Silver

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Oil rises, heads for third week of gains

Oil prices rose on Friday and were poised for a third week of gains as market sentiment turned more upbeat amid signs a persisting global supply glut may be easing

How Saudi Arabia plans to shake up its economy!

How Saudi Arabia plans to shake up its economy!

The National Transformation Plan (NTP), as Riyadh has dubbed the changes, is expected to be unveiled in the next few weeks. Much is still secret. Ministries have refused to discuss plans in detail and Western consultancies contacted by Reuters declined to confirm their involvement, let alone policy details.

OPEC cuts 2016 oil demand growth forecast, warns of more

OPEC cuts 2016 oil demand growth forecast, warns of more

OPEC on Wednesday cut its forecast for global oil demand growth in 2016 and warned of further reductions citing concern about Latin America and China, pointing to a larger supply surplus this year.

Oil hits 2016 high above $43 on producer meeting hopes

Oil hits 2016 high above $43 on producer meeting hopes

Oil rose above $43 a barrel to its highest level so far in 2016 on Tuesday, supported by hopes that a meeting of oil producers will agree steps to tackle a supply glut, and by a weak U.S. dollar and further signs of strong demand in China.

India links $20 billion investment in Tehran to favourable terms

India links $20 billion investment in Tehran to favourable terms

Stepping up its energy ties with Iran, India has lined up USD 20 billion as investment in oil and gas as well as petrochemical and fertiliser projects in the Persian Gulf country subject to provision of concessional rights

Oil PSUs get a free hand, can choose companies for crude buy

Oil PSUs get a free hand, can choose companies for crude buy

In a bid to improve operational efficiency, the government Wednesday gave freedom to public sector oil firms to have their own independent crude import policy based on their commercial requirements.