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Crude Oil News

PAGE 7

Can India become rule-maker in the global oil trade?

India needs to push for a bigger role for its exchanges and currency in the oil trade.

Published on Aug 21, 2021, 5:46 PM IST

Middle East's share of India's oil imports hits 25-month low

Lower purchases of oil from the Middle East dragged OPEC's share of Indian oil imports to a record low.

Published on Jun 24, 2021, 12:02 PM IST

The winners and losers from surging Oil and commodity prices

That’s been a boon for exporters. The flood of cash is a welcome relief for energy behemoths such as Saudi Arabia and Russia, whose leaderships have domestic challenges to contend with.

Published on Mar 11, 2021, 2:29 PM IST

Oil prices rise as vaccine drives bolster economic outlook

A crude oil tanker is seen at Qingdao Port, Shandong province, China.

Updated on Mar 11, 2021, 12:29 PM IST

Yamani, the Saudi oil minister who brought the West to its knees

Known for his elegant manner and trademark goatee beard, Yamani's 24-year tenure running the oil affairs of the world's biggest crude producer made him a global celebrity during the inflationary "oil shocks" of the 1970s.

Published on Feb 23, 2021, 2:42 PM IST

Saudi Arabia raise crude pricing in Asia as vaccines buoy oil market

This time, state producer Saudi Aramco raised pricing for Arab Light crude for Asia by 80 cents a barrel to 30 cents above the benchmark

Updated on Dec 6, 2020, 4:53 PM IST

Oil climbs higher on China, Japan rebound, hopes of OPEC+ supply curb

A worker at an oil field owned by Bashneft, Bashkortostan, Russia.

Updated on Nov 16, 2020, 10:28 AM IST

Oil drops below $38 on surging Covid-19 and fraught US election

Brent’s futures curve shows there’s still some nervousness about a supply glut, but it’s eased this week.

Updated on Nov 6, 2020, 11:49 AM IST

Oil gains on weaker dollar after OPEC+ edges toward taper delay

On Monday, Energy Minister Alexander Novak met with Russian producers to discuss delaying an easing of production cuts by three months.

Updated on Nov 3, 2020, 3:13 PM IST

Oil prices edge up off three-month lows, but demand concerns persist

US crude rose $1.29, or 3.5% to settle at $38.05 a barrel, having fallen nearly 8% in the previous session.

Updated on Sep 10, 2020, 7:13 AM IST

Oil holds near $44, heads for weekly drop on demand concerns

Oil has recovered from April, when Brent slumped to a 21-year low below $16 and US crude briefly went into negative territory.

Updated on Sep 4, 2020, 3:00 PM IST

Oil rises to $46 on US inventory drop, economy hopes

Manufacturing surveys around the world showed expanding activity in August, although the outlook remains shaky.

Updated on Sep 2, 2020, 3:43 PM IST

Brent hits five-month high on Abu Dhabi supply cuts, China data

Oil storage tanks stand at the RN-Tuapsinsky refinery, operated by Rosneft Oil Co., as the sun sets in Tuapse, Russia.

Updated on Aug 31, 2020, 3:10 PM IST

Oil steady after IEA lowers demand forecast, US stocks fall

Brent crude was down 10 cents, or 0.2%, to $45.33 a barrel by 1348 GMT, and West Texas Intermediate (WTI) was up 1 cent, or less than 0.1%, at $42.68 a barrel.

Updated on Aug 13, 2020, 9:45 PM IST

Oil prices back on the rise on US stimulus hopes, Iraq output cut

Oil storage tanks stand at the RN-Tuapsinsky refinery, operated by Rosneft Oil Co., as the sun sets in Tuapse, Russia.

Updated on Aug 10, 2020, 8:23 AM IST

Saudi Aramco’s profit plunges, sees signs of oil market recovery

Aramco was listed in Riyadh last year in a record $29.4 billion flotation

Updated on Aug 9, 2020, 3:23 PM IST

Oil broadly stable despite rising virus cases, higher US crude stockpiles

US crude oil stockpiles rose last week, although gasoline and distillate inventories fell more than expected, data from industry group the American Petroleum Institute showed.

Updated on Jul 8, 2020, 3:39 PM IST

Oil falls as growing coronavirus cases stoke fuel demand worries

Gasoline demand will be closely watched as the United States heads into its July 4 holiday weekend as many Americans are expected to hit the road.

Updated on Jul 3, 2020, 8:26 AM IST

Oil steadies amid increase in coronavirus cases

Oil prices have been supported by a recovery in fuel demand globally following a collapse in April-May during virus shutdowns, as nations worldwide resume economic activity.

Updated on Jun 22, 2020, 2:54 PM IST

India’s May crude oil imports fall 22.6%, biggest decline since at least 2005

Workers walk inside the complex of the Vadinar refinery, operated by Essar Oil Ltd., (EOL) in the western Indian state of Gujarat

Updated on Jun 20, 2020, 11:13 AM IST

Oil prices stable ahead of OPEC+ meeting

The Organization of the Petroleum Exporting Countries and its allies, a group known as OPEC+, are expected to hold an online meeting later on Thursday.

Updated on Jun 18, 2020, 2:14 PM IST

Millions of abandoned oil wells are leaking methane, a climate menace

Leaks from abandoned wells have long been recognized as an environmental problem, a health hazard and a public nuisance.

Updated on Jun 18, 2020, 8:17 AM IST

Oil retreats as China coronavirus outbreak darkens outlook for demand

Global oil demand will rebound next year as the world emerges from coronavirus lockdowns, but recovering to pre-crisis levels may take a couple of years, the International Energy Agency said.

Updated on Jun 17, 2020, 8:12 AM IST

Oil prices hit by record US crude inventories, bearish Fed

Brent crude and US West Texas Intermediate are set for their worst daily drop in two weeks.

Updated on Jun 11, 2020, 5:49 PM IST

OPEC+ coalition shaken as Iraq pushed to atone for oil cheating

The kingdom and the Kremlin are pushing the stragglers hard -- not just demanding they implement the cuts already promised, but asking for deeper curbs in the coming months to compensate for their earlier failings.

Updated on Jun 4, 2020, 7:18 AM IST

Oil hits three-month high over hopes for output cuts

US West Texas Intermediate crude (WTI) gained 33 cents, or 0.9 per cent, at $37.14, also the highest since March 6.

Updated on Jun 3, 2020, 8:01 AM IST

Oil prices climb as faith in supply cuts grows

OPEC+ countries are set to meet again in early June to discuss maintaining their supply cuts to shore up prices, which are still down about 45 per cent since the start of the year.

Updated on May 26, 2020, 3:49 PM IST

Oil drops over 4% on rising China-US tensions, demand doubts

An attendant fills an automobile with fuel at a gas station in Riyadh, Saudi Arabia, on Tuesday, May 19, 2020.

Updated on May 23, 2020, 7:04 AM IST

Crude oil futures rise on spot demand

Analysts said raising of bets by participants kept crude prices higher in futures trade .

Published on May 18, 2020, 3:07 PM IST

Saudi oil rush threatens to disrupt stabilising US oil market

The oil industry has been on edge for months with onshore and offshore storage capacity levels tested worldwide due to ballooning oil inventories spurred by the Covid-19 demand slowdown.

Updated on May 15, 2020, 11:52 AM IST

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