oil prices

IOC reports massive loss of Rs 5,185 crore in Q4 on inventory losses

Petrol demand has risen unexpectedly possibly because most public transport is still off roads and private vehicles are being used for commuting.

published on : 24th June 2020

Crude prices continue to rise, Brent above USD 36 per barrel

On the NYMEX, the July delivery contract of WTI is currently trading at $34.33 per barrel, higher by 2.51 per cent from the previous close.

published on : 21st May 2020

Oil prices recover on demand revival signs, Brent at USD 33 per barrel

OPEC and its allies led by Russia had last month agreed to reduce output by 9.7 million barrels per day (bpd) for May and June.

published on : 18th May 2020

Oil prices surge, WTI up on early signs of demand recovery in US

The June contract of Brent on the Intercontinental Exchange (ICE) was at $24.25 per barrel, higher by 7.59 per cent

published on : 30th April 2020

Oil refiners stare at Rs 25,000 crore inventory loss: Crisil ratings

The mayhem in the oil market meant that by the time crude oil is processed and converted into fuel, the rates have fallen, resulting in inventory losses.

published on : 23rd April 2020

China buys crude as prices collapse, adding to stockpiles

Low oil prices 'have a positive impact on China,' said the ruling Communist Party’s Political and Legal Commission on its social media account.

published on : 23rd April 2020

Body blow to oil exporters, big and small amid global COVID-19 lockdown

While countries like Saudi Arabia, Russia and the US are large enough to manage the crisis, many smaller exporters in Africa and west Asia may be faced with an acute cash crunch this year.

published on : 23rd April 2020

Rupee recovers from all-time low to settle at 76.68 against US dollar

The rupee opened weak at 76.86 at the interbank forex market and then fell further to an all-time low of 76.88 during the day.

published on : 22nd April 2020

ONGC asks government to waive cess, royalty as falling oil prices not enough to cover operating cost

ONGC, sources said, has asked the government to abolish oil development cess if price realized by producers is less than USD 45 per barrel.

published on : 22nd April 2020

Oil plunges over 12 per cent as virus ravages energy markets

The negative prices meant that traders were forced to pay to have the crude taken off their hands.

published on : 22nd April 2020

Oil prices hit new lows as economic pain deepens

Many analysts saw Monday's prices as limited to the peculiar nature of some contracts, but Tuesday's drop signaled the industry is in for a prolonged, widespread challenge.

published on : 22nd April 2020

OPEC kingpin Saudi Arabia says closely monitoring oil markets, ready to act

The OPEC+ group of major producers last week agreed record production cuts of 9.7 million bpd to prop up prices that had shed more than 60 percent as the COVID illness shut down businesses worldwide.

published on : 21st April 2020

Why is government not passing on benefit of reduced oil prices to consumers: Congress

Congress leader Rahul Gandhi asked when would this government listen and reduce the prices of petrol and diesel.

published on : 21st April 2020

Sensex tanks 1,011 points as oil crash sparks global sell-off

IndusInd Bank was the top laggard in the Sensex pack, sinking over 12 per cent, followed by Bajaj Finance, ICICI Bank, Axis Bank, M&M, Tata Steel, ONGC and Maruti.

published on : 21st April 2020

US oil prices bounce back to positive territory post shocking crash amid COVID-19 crisis

Brent crude, the international benchmark, was changing hands at $25.61 a barrel for June delivery, up 0.15 percent

published on : 21st April 2020
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