Crude Oil

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Investors wealth tumbles over Rs 4.47 lakh crore amid market crash
Business

Investors wealth tumbles over Rs 4.47 lakh crore amid market crash

Weak global markets, unabated foreign fund outflows and firm crude oil prices played spoilsport for equities

Germany expects to quit Russian crude oil imports by late summer
World

Germany expects to quit Russian crude oil imports by late summer

Germany has been under strong pressure from Ukraine and other nations in Europe to cut energy imports from Russia

Fuel pricing: The devil is in the nuances
Business

Fuel pricing: The devil is in the nuances

Despite the pandemic and geopolitical challenges, the government has largely been able to protect people from the full brunt of the global oil price vagaries without comprising fiscal prudence

Russia offers deep discounts on crude oil to India: What does it means for New Delhi?
World

Russia offers deep discounts on crude oil to India: What does it means for New Delhi?

According to data compiled by commodities research group Kpler, India did not import any oil from Russia in January and February but March and April contracts have already touched six million barrels for the Urals grade oil

Here's how global trade responded to the Russian invasion of Ukraine
World

Here's how global trade responded to the Russian invasion of Ukraine

Fears over Russia’s huge fossil fuels export being interrupted has led to global oil and gas prices spiking

Iran offers to meet India's energy needs by relaunching rupee-rial trade for export of oil and gas
World

Iran offers to meet India's energy needs by relaunching rupee-rial trade for export of oil and gas

Iran used to be India's second largest oil supplier but New Delhi had to halt imports after the former US president Donald Trump withdrew from the nuclear deal with Iran and re-imposed sanctions on its oil exports

Pakistan's anti-graft watchdog initiates probe against four-star army general for illegal sale of crude oil
World

Pakistan's anti-graft watchdog initiates probe against four-star army general for illegal sale of crude oil

According to documents attached with the petition, 17 individuals, including two lieutenant colonels, three majors, six soldiers of varying ranks and four civilians were among those found guilty of embezzling oil and dismissed by the military authorities on 26 January, 2005 for running an illegal crude oil business

Prices of Brent crude oil surge over $10, shares sink as Ukraine-Russia conflict deepens
World

Prices of Brent crude oil surge over $10, shares sink as Ukraine-Russia conflict deepens

Amid mounting calls for harsher sanctions against Russia, price of oil jumped more than $10 a barrel and markets have swung worldwide today

India to release five million barrels of crude oil from strategic reserves to challenge OPEC grips
India

India to release five million barrels of crude oil from strategic reserves to challenge OPEC grips

India plans to release 5 million barrels of crude oil from its emergency stockpile in tandem with the US, Japan and other major economies to cool prices, a top government official said on Tuesday

India likely to release oil from petroleum reserves: What they are and why they are set up
India

India likely to release oil from petroleum reserves: What they are and why they are set up

Amid talk of India releasing oil from its petroleum reserves in tandem with the US, here’s a look at what we know about it.

Why Opposition’s claims on oil price rise are nothing but crude propaganda
World

Why Opposition’s claims on oil price rise are nothing but crude propaganda

Fuel prices have risen not only in India, but elsewhere too. Even if one ignores it, the fact is that state government taxes account for 41.67 per cent of the final petrol price

LPG price hiked by Rs 15/cylinder; petrol, diesel rates at all-time high
India

LPG price hiked by Rs 15/cylinder; petrol, diesel rates at all-time high

Rates of both subsidised and non-subsidised LPG were hiked, taking the total increase in rates since July to Rs 90 per 14.2-kg cylinder

India’s wholesale inflation drops to 11.16% in July from 12.07% in June as food prices soften
Business

India’s wholesale inflation drops to 11.16% in July from 12.07% in June as food prices soften

Inflation in food articles eased for the third straight month, and was at 'zero' percent in July, down from 3.09% in June, even as onion prices spiked. Inflation in onions was high at 72.01%

WPI inflation eases to 12.07% in June as food, crude prices soften
Business

WPI inflation eases to 12.07% in June as food, crude prices soften

Inflation in fuel and power basket eased to 32.83 percent during June, against 37.61 percent in May

Rahul Gandhi must ask Congress-ruled states to cut tax on petrol, diesel, says Dharmendra Pradhan on rising fuel prices
India

Rahul Gandhi must ask Congress-ruled states to cut tax on petrol, diesel, says Dharmendra Pradhan on rising fuel prices

The petroleum minister, however, did not suggest a similar action for BJP-ruled states like Madhya Pradesh and Karnataka, where petrol has crossed Rs 100-mark

Saudi Arabia unveils new plan to tackle climate change, reduce carbon emissions
World

Saudi Arabia unveils new plan to tackle climate change, reduce carbon emissions

The new initiatives are part of Crown Prince Mohammed bin Salman's Vision 2030 plan to diversify the kingdom’s oil-reliant economy.

Bruising 2020 for Big Oil: Fossil fuel industry left to confront its diminished future, cope
World

Bruising 2020 for Big Oil: Fossil fuel industry left to confront its diminished future, cope

Oil majors are considering expanding to offshore wind farms and hydrogen fuel, to prepare for a world that uses less oil and gas.

Govt to release IIP data tomorrow: All you need to know about Index of Industrial Production, its eight core sectors
Business

Govt to release IIP data tomorrow: All you need to know about Index of Industrial Production, its eight core sectors

The eight core sectors have a combined share of above 40 percent in the Index of Industrial Production (IIP) which gives the growth rates of different industry groups of the economy over a specified period

Coronavirus Lockdown: Eight core sector output contracts by record 38.1% in April; cement falls 86%, steel by 84%
Business

Coronavirus Lockdown: Eight core sector output contracts by record 38.1% in April; cement falls 86%, steel by 84%

The output of eight core infrastructure industries shrank by a record 38.1 per cent in April due to the coronavirus-induced lockdown, according to the official data

Oil prices fall on Sino-US tensions over Hong Kong; global energy investment expected to fall by about 20% this year
Business

Oil prices fall on Sino-US tensions over Hong Kong; global energy investment expected to fall by about 20% this year

Gloomy forecasts over the economic impact of the pandemic also weighed on crude oil prices.