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25 Apr 2022

Edible oil industry suggests govt initiate dialogue with Indonesia over oil

Indonesia had announced to ban exports till further notice apparently to contain edible oil prices in their domestic market. Indonesia was levying USD 575 per tonne export duty. Oil and fats contributed to around 60 per cent of food and beverages inflation in the country.

Indian oil imports

24 Apr 2022

India's oil import bill doubles to USD 119 bn in FY22

India spent USD 119.2 billion in 2021-22. It spent USD 13.7 billion in March alone, when oil prices surged to 14-year high. India imported 212.2 million tonnes of crude oil in 2021-22, up from 196.5 million tonnes in the previous year.

18 Feb 2022

Oil heads for weekly fall on Iranian oil hopes

Fears over possible supply disruptions resulting from the Russian military presence at Ukraine`s borders have limited losses this week. Consequently, there is little chance of Iranian crude returning to the market in the immediate future to ease current supply tightness, analysts said.

02 Nov 2016

Iran oil exports hit 2.44 million barrels per day

Iran boosted its oil exports to 2.44 million barrels per day in late October as it regains market share lost during years of international sanctions, its oil minister said Wednesday.

18 Jan 2016

Oil slides to lowest since 2003 as Iran sanctions are lifted

Oil prices hit their lowest since 2003 on Monday, as the market braced for a jump in Iranian exports after the lifting of sanctions against the country at the weekend.

14 Jul 2015

Oil prices fall as Iran, global powers reach nuclear deal

Oil prices tumbled on Tuesday as Iran and six global powers reached a nuclear deal that could see an easing of sanctions against Tehran and a gradual increase in its oil exports just as Asian economies showed further signs of weakness.

Iraqi Oil Minister Adel Abdel Mahdi

01 Mar 2015

Iraq predicts oil will rise to $64-65 per barrel

Iraqi Oil Minister Adel Abdel Mahdi said Sunday he expects the price of crude oil, which dropped to a six-year low in January, to continue recovering to reach USD 64 or USD 65 per barrel.

17 Feb 2015

Oil rises to $62 per barrel, near 2015 high as Mideast risks support

Oil rose to USD 62 a barrel on Tuesday, close to its 2015 high, supported by threats to Middle East supplies and expectations lower prices may prompt a slowdown in U.S. output.

Iraq government

02 Dec 2014

Iraq government, Kurds strike deal on budget, oil exports

Iraq`s government and the autonomous Kurdish region have reached an agreement resolving a longstanding dispute over the budget and oil, in a move seen as a key step in improving cooperation against jihadists.

04 Jul 2014

India still worried about rising crude prices: Jaitley

India is worried about the impact of Iraq crisis on crude oil, though there were indications of moderation in prices in the last few days, Finance Minister Arun Jaitley said on Friday.

24 Jun 2014

Oil refiners gain as Brent slips below $114

India's oil retailers surge after Brent crude falls below $114 a barrel on Tuesday, as data showing near-record high oil exports from Iraq indicated supplies remained unaffected by the escalating violence at OPEC's No. 2 producer.

Crude oil prices

13 Jun 2014

Oil prices climb again amid escalating violence in Iraq

Crude oil prices rose to new nine-month highs on Friday as concerns persisted that an insurgency in Iraq could disrupt oil exports from the second-largest OPEC producer.

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