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US crude oil News

16 May 2020

Oil prices jump as demand shows signs of picking up

US crude prices jumped 7% on Friday to their highest since March, on strengthening fuel demand as countries around the world eased travel restrictions they had imposed to curb the spread of the coronavirus.

13 Jun 2018

India discusses 'Oil Buyers Club' with China; seeks US crude to counter OPEC

Production cuts by OPEC have led to international oil prices hitting a four year high last month that forced a Rs 3.8 per litre hike in petrol and Rs 3.38 a litre increase in diesel prices.

Mangalore Refinery and Petrochemicals Ltd

01 Dec 2017

MRPL makes its first US oil purchase

MRPL bought a 1 million-barrel cargo for a Feb. 1-10 delivery.

US oil export to India

06 Oct 2017

US oil export to India will increase jobs: Rick Perry

US Energy Secretary Rick Perry said the export of US crude oil to India will create jobs, economic stability and national security in both countries.

American oil shipment

05 Oct 2017

'Oil shipment a significant milestone in India-US partnership'

The first of a series of new shipments of crude oil from the United States arrived in Odisha on October 2.

Indian Oil Corp

10 Aug 2017

IOC to make first ever crude oil purchase from US this year

The official said IOC had last month sealed a deal to import 1.6 million barrels of crude from the US for delivery in the first week of October at its Paradip refinery in Odisha -- the first ever such purchase of US crude by an Indian state-run refiner.

24 Aug 2016

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.

19 Dec 2015

India to benefit as US lifts 40-year-old ban on oil export

The United States on Friday lifted a 40-year-old ban on export of oil, thus paving the way for energy deficient countries like India to open up another frontier to import oil from a distant friendly nation.

11 Dec 2015

US crude oil holds near 2009 lows as global glut persists

US crude prices remained near 2009 lows in early Asian trading on Friday as oil output in the Middle East continued to rise despite an existing global glut.

31 Aug 2015

US lowers estimate of domestic crude oil output

The US government cut its estimate of domestic oil production on Monday, helping send crude prices sharply higher.

20 Aug 2015

US crude down 4% to hit 6-1/2-year low on surprise stock build

US crude oil slumped over 4 percent on Wednesday to hit a 6-1/2-year low and almost break below $40 per barrel, as a huge unexpected stockpile build in the United States reinforced concerns about a growing global oil glut.

19 May 2015

Oil down 3% on dollar rally, ample supply worry

Oil prices fell 3 percent on Tuesday, with U.S. crude extending losses for a fifth straight day, as the dollar rallied amid evidence that the United States and top oil exporter Saudi Arabia were pumping more than the world needed.

15 Apr 2015

Oil surges after lower than expected US inventory rise

Oil prices rallied and U.S. crude jumped nearly 6 percent to a 2015 peak on Wednesday after government data showed crude oil inventories in the United States rose less than expected last week.

09 Feb 2015

Oil prices extend gains as OPEC cuts output forecast

Oil prices advanced further on Monday as OPEC forecast a reduction in US output amid a dip in North American crude production.

28 Jan 2015

Oil slips to $49 as US crude inventories hit record

Oil slipped to $49 a barrel on Wednesday after US crude stocks soared to the highest on record last week, and as a firmer dollar weighed on prices.

06 Jan 2015

Oil drama drives shares lower in Asia and Europe

European shares sank for a third day on Tuesday as a slide in oil prices showed no sign of easing off, supporting traditional safe-haven assets such as top-rated government bonds, the Japanese yen and the Swiss franc.

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