oil price

Russia rejects USD 60-a-barrel cap on its oil, warns of cutoffs

Russia's crude has already been selling for around $60 a barrel, a deep discount from international benchmark Brent, which closed Friday at $85.42 per barrel.

published on : 4th December 2022

India to continue buying oil from all countries including Russia: Official

Russia has threatened to refuse to sell its oil to anyone wanting to cap prices.

published on : 2nd December 2022

OPEC set to stick or cut more amid plan to cap Russian oil price

"Russia might also retaliate by leveraging its influence within OPEC+ to push for more production cuts down the road, thus exacerbating the global energy crisis," Campanella said.

published on : 2nd December 2022

EXPLAINER: What's the effect of Russian oil price cap, ban?

The twin measures could have an uncertain effect on the price of oil as worries over lost supply through the boycott compete with fears about lower demand from a slowing global economy.

published on : 25th November 2022

Indian refiners stand to gain as Brent crude price falls below USD 85 per bbl

Gaurav Moda, India Energy Leader, EY, said falling and consistent crude prices are always good news for India, given the country continues to import nearly 80% of its oil requirements. 

published on : 25th November 2022

Biden to release 15 million barrels from US oil reserves to curb price hike

The emergency oil reserves usually kept for situations such as shutdowns at oil refineries was Biden's gambit to calm markets and shield the world's biggest economy from Ukraine war shocks. 

published on : 19th October 2022

Rupee falls 39 paise to fresh lifetime low of 82.69 against US dollar in early trade

At the interbank foreign exchange, the rupee opened at 82.68 against the greenback, then slipped further to 82.69, registering a fall of 39 paise over its previous close.

published on : 10th October 2022

EXPLAINER| How will OPEC+ cuts affect oil prices, inflation?

Oil producers are wary of a sudden collapse in prices if the global economy goes downhill faster than expected.

published on : 6th October 2022

OPEC+ makes big oil cut to boost prices

In a statement, OPEC+ said the decision was based on the uncertainty that surrounds the global economic and oil market outlooks.

published on : 5th October 2022

OPEC+ tipped to make big cut down in oil output amid inflation, soaring prices

A sizeable cut now looks on the cards, the question is whether it will be large enough to offset the demand destruction caused by the impending economic downturn. 

published on : 3rd October 2022

How high crude oil prices are ‘breaking India’s back’

India’s crude basket price averaged at $102.97 a barrel in April 2022, $109.51 in May, $116.01 in June, $105.49 in July, $97.40 in August and $91.23 per barrel in September so far.

published on : 29th September 2022

Bank of England to buy UK bonds to avert financial risk

"Look, we have concerns about the price of oil but we are a USD 2,000 per capita economy. When the price of oil is breaking our back and it's our big concern," Jaishankar said.

published on : 28th September 2022

High oil prices breaking our back, Jaishankar tells Blinken

Jaishankar said the energy market is under stress due to the Ukraine war and that not just the pricing but the very availability of oil has become an issue. 

published on : 28th September 2022

India must tread with care the oil price cap maze

Calling it an ‘absurd decision’ leading to chaos, Russia warned that countries imposing a price cap would be banned from receiving Russian oil.

published on : 10th September 2022

Centre not doing anything to lower fuel prices: Telangana IT Minister KTR

The Modi government’s excuse that international crude oil prices are the reason for the increase in fuel prices has once again been proven wrong, remarked Rama Rao.

published on : 25th August 2022

Rupee ends flat at 79.84 against US dollar

It finally settled flat at 79.84 against the US dollar. The dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.20 per cent to 108.38.

published on : 22nd August 2022

Oil at six-month low: Petrol at breakeven, losses continue on diesel 

The world's best-known crude benchmark, Brent was trading at USD 94.91 per barrel after concerns of a global recession led to it slipping to a six-month low of USD 91.51 on the previous day.

published on : 18th August 2022

Asian shares mostly higher, echoing Wall Street rebound

Stocks on Wall Street bounced back and closed higher, extending the market’s recent winning ways as investors look ahead to several updates from retailers this week.

published on : 16th August 2022

Rupee gains 46 paise to 78.94 against US dollar ahead of RBI policy outcome

At the interbank foreign exchange, the rupee opened at 79.15 against the American dollar, then touched 78.94, registering a gain of 46 paise over the last close.

published on : 5th August 2022

Rupee falls 10 paise to 79.88 against US dollar in early trade

At the interbank foreign exchange, the rupee opened at 79.83 against the US dollar, then fell to 79.88 against the greenback, registering a decline of 10 paise over the last close.

published on : 27th July 2022
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