oil prices

Saudi Arabia extends cut in oil it sends to the world in bid to boost prices

The Saudi Energy Ministry said in a statement on its website that its voluntary cut of 1 million barrels per day will stay in place through the first three months of next year.

published on : 1st December 2023

OPEC+ suppliers struggle to agree on cuts to oil production even as prices tumble

Another big question is whether Saudi Arabia and Russia will extend their additional voluntary cuts of 1 million barrels per day and 300,000 barrels per day, respectively, into 2024.

published on : 30th November 2023

Hard times coming if the Gaza war spills over

Higher oil prices in turn are likely to spike up inflation, which internationally has been under control, and were on the way down.

published on : 22nd October 2023

Fear of smouldering politics keeps oil on the simmer

OPEC+ would not want a conflagration. It would spook the market and add volatility to oil prices. It would also hobble top producer Saudi Arabia’s Vision 2030 for moving away from oil.

published on : 17th October 2023

Israel-Palestine tension may disrupt trade

Analysts also expect some disruption in supply of raw diamond as Israel is an important supplier and with Russia already cut from the market due to sanctions.

published on : 10th October 2023

Oil spikes as “chances of a mistake” run high in the Middle East

Analysts say Netanyahu is on the backfoot, and he cannot be seen as weak. This could lead to further escalation and disruption in oil supply.

published on : 9th October 2023

Markets mostly drop as oil spike fuels fresh inflation fear

Observers said higher energy costs would complicate the central bank's work as they accounted for a large part of the surge in prices in the wake of Russia's invasion of Ukraine.

published on : 6th September 2023

Oil prices spike as Saudi, Russia extend 1.3 million barrel a day oil cut through December

The countries' moves could increase inflation and the cost for motorists at gasoline pumps. Saudi Arabia said it will continue to monitor the market and could take further action if necessary.

published on : 6th September 2023

RBI likely to pause repo rate, adopt hawkish tone 

There is limited room for the RBI to sound dovish as it has explicitly shifted to guide inflation toward the 4 per cent target.

published on : 10th August 2023

Peak in oil demand 'in sight' before end of decade: International Energy Agency

"Growth in the world's demand for oil is set to slow almost to a halt in the coming years," the IEA said.

published on : 14th June 2023

Oil companies may cut price of petrol and diesel in next few months

India’s largest private fuel retailer, already announced selling petrol and diesel at Re 1 less than the fuel sold by government-owned companies.

published on : 8th June 2023

Oil prices sink after Saudi-driven rally

"Oil prices are under pressure...  as the glow from Saudi's supply cut fades and the reality of the sluggish demand backdrop sets in," an expert noted.

published on : 6th June 2023
Isreal Conflict