oil

Russia's oil output hits record ahead of possible OPEC talks

Russia in January pumped a record amount of crude oil, the Russian energy ministry said Tuesday, as Moscow pushes for oil-producing states to coordinate production.

Iraq oil exports up but revenue plunges on low prices

Baghdad is facing a financial crisis due to the fall in oil prices, which the ministry said averaged $22.21 in January -- less than half the amount projected in the 2016 budget.

Oil falls on China data, fading prospect of OPEC action

Oil fell on Monday as weak economic data from China, the world`s largest energy consumer, weighed on prices and an OPEC source played down talk of an emergency meeting to stem the decline.

Boost to Indian economy from falling oil prices 'fading': DBS
Boost to Indian economy from falling oil prices 'fading': DBS

The benefits to the Indian economy from fall in crude oil prices will be "limited" this year and domestic reforms and developments will gain focus, a report said.

Gold jumps to 12-week high as equities and oil tumble
Gold jumps to 12-week high as equities and oil tumble

Gold rallied to its highest in nearly 12 weeks on Tuesday as a fresh rout in world stocks and a slide in oil prices battered appetite for risk, sending investors fleeing to alternative assets.

HSBC revises 2016 crude price down again, sees at $45 a barrel
HSBC revises 2016 crude price down again, sees at $45 a barrel

Even as many of its peers are betting crude as low as USD 10-20, British brokerage major HSBC sounded a tad optimistic but has pegged down the average Brent crude prices at USD 45 a barrel for 2016 from USD 60.

Falling oil price: boon for some, bust for others
Falling oil price: boon for some, bust for others

The plunge in oil prices is proving a boon for consumers and airlines, but is a bust for energy companies and producing nations, while complicating the jobs of central bankers worried about deflation.

Oil prices fall 3% on swelling oversupply
Oil prices fall 3% on swelling oversupply

Oil prices fell 3 percent on Monday as Iraq announced record-high oil production feeding into a heavily oversupplied market, wiping out much of the gains made in one of the biggest-ever daily rallies last week.

Oil prices fall near 2003 lows on oversupply, demand worries
Oil prices fall near 2003 lows on oversupply, demand worries

Oil fell on Thursday, dipping back towards 12-year lows on persistent concerns about a supply overhang and the outlook for demand.

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 price collapse is a drag on global economy: IMF

The International Monetary Fund said Tuesday that the sharp collapse in the price of oil is proving more of a drag on the global economy than a stimulus.

Iran boosts oil production, condemns new sanctions
Iran boosts oil production, condemns new sanctions

Iran announced a major boost in oil production Monday after the lifting of sanctions under its nuclear deal, while condemning new US measures against its missile programme.

India looks to raise oil imports from Iran as sanctions lifted
India looks to raise oil imports from Iran as sanctions lifted

With crippling international sanctions against Iran ending, India is looking to increase crude oil imports from the Persian Gulf nation and get oilfield contracts but faces an immediate USD 5.8 billion payout in past oil dues.

Iran to boost oil exports by 500,000 bpd after sanctions: Shana
Iran to boost oil exports by 500,000 bpd after sanctions: Shana

Iran is ready to increase its crude oil exports by 500,000 barrels a day, the deputy oil minister said on Sunday, hours after international sanctions on Tehran were lifted, removing an obstacle to exports.

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.

Oil cheaper than water but why is petrol sold at Rs 60 per litre? Find our here
Oil cheaper than water but why is petrol sold at Rs 60 per litre? Find our here

It is well-known that bottled water is being sold at Rs 15 - 20 in the country. The crude oil that reached India on January 7 cost Rs 12.6 per litre.

Oil down 10 percent after 5-day drop; Goldman says more losses needed

Oil fell for a fifth straight day on Friday, losing 10 percent on the week.

Wall Street sinks as China fears grow, oil slides further

China allowed the biggest fall in the yuan in five months.

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

Oil prices fell for a fourth day, lurching again to 12-year lows.

Oil prices rise after Saudi Arabia cuts ties with Iran

Oil prices rose in Asia Monday after crude kingpin Saudi Arabia cut diplomatic ties with Iran following a row over Tehran`s execution of a Shiite cleric.