Oil prices

Centre imposes stock limits on edible oils to soften prices in domestic market 

Edible oil prices in the domestic retail markets have shot up sharply by up to 46.15 per cent in the last one year due to global factors and local tight supply situation, as per government data.

published on : 10th October 2021

Sebi bars NCDEX from launching new mustard seed contracts

Tight supply of mustard seeds has put pressure on wholesale and retail prices of mustard oil.

published on : 8th October 2021

Rising crude oil prices boost Indian Oil Q4 profit

The result was a 52 per cent jump in inventory gains from the Rs 5,622 crore recorded during the previous quarter.

published on : 20th May 2021

Oil giant Saudi Aramco sees its 2020 profits nearly halved to USD 49 billion

Saudi Arabian Oil Co. released its financial results a year after pandemic sent the price of oil crashing to all-time lows as people stopped moving around the world to stem the spread of the virus.

published on : 21st March 2021

Oil rises ahead of US Iran sanctions, but outlook for 2019 less certain

U.S. sanctions will start targeting Iran's crude exports from November 4, and Washington is putting pressure on governments and companies globally to fall in line.

published on : 5th October 2018

Oil hits 4-year high after OPEC+ shows no sign of turning on the taps

The United States from Nov. 4 will target Iran's oil exports with sanctions, and Washington is putting pressure on governments and companies around the world to fall in line and cut their purchases.

published on : 25th September 2018

India's oil demand growth to slow down over next decades: Reliance

Despite the slowdown, oil consumption will still increase to 480 million tonnes by 2040 as the renewable push will not completely halt oil demand growth, said Reliance Industries' Harish Mehta.

published on : 25th September 2018

India warned OPEC of high oil prices shrinking demand 

At the meeting of the Organisation of Petroleum Exporting Countries (OPEC) in Vienna last week, Oil Minister Dharmendra Pradhan and his team of officials presented the consumer side to the producers.

published on : 25th June 2018

Oil prices edge down amid worries Saudi Arabia, Russia could up supply

Saudi Arabia and Russia have discussed raising OPEC and non-OPEC oil production by 1 million barrels per day (bpd) to counter potential supply shortfalls from Venezuela and Iran.

published on : 30th May 2018

People’s anger right, Odisha stand wrong: Petroleum and Natural Gas Dharmendra Pradhan

The Petroleum Minister said several States have already reduced VAT on petrol and diesel while States like Goa are collecting only 12 percent tax on petroleum products.

published on : 25th May 2018

Petrol price at Rs 74.50 a litre in Delhi, highest since September 2013

Petrol prices rose for the fifth consecutive day on Monday to Rs 74.50 per litre in New Delhi, even as global crude oil cost dipped somewhat due to international factors.

published on : 23rd April 2018

Donald Trump rails against high oil prices, OPEC pushes back

US President Donald Trump accused OPEC on Friday of "artificially" boosting oil prices, drawing rebukes from some of the world's top energy exporters.

published on : 21st April 2018

Worried Modi government scratches its head over rising petrol prices

While finance secretary Hasmukh Adhia on Monday ruled out any immediate reduction in excise duty, sources told TNIE that the option is still open. 

published on : 5th April 2018

Oil prices unlikely to come down soon

In the last 15 months, duty on petrol rate was hiked by Rs 11.77 per litre and that on diesel by Rs 13.47 a litre, which helped the government boost collections, but gave no relief to consumers.

published on : 3rd April 2018

Global stocks on longest slide since November as U.S. Federal caution hits

Many analysts had been expecting that spread to narrow as the ECB neared the end of its stimulus this year but it hasn't proved the case.

published on : 19th March 2018
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