Oil hits 2016 high above $43 on producer meeting hopes
Oil rose above $43 a barrel to its highest level so far in 2016 on Tuesday, supported by hopes that a meeting of oil producers will agree steps to tackle a supply glut, and by a weak U.S. dollar and further signs of strong demand in China.
Apr 12, 2016, 17:18 PM IST
Oil prices rise on optimism over supply, Doha meeting
Oil prices rose on Friday, lifted by hopes that a punishing global excess of crude oil could be nearing a tipping point and firm economic indicators from the United States and Germany that cast a positive light on growth in fuel demand.
Apr 08, 2016, 20:17 PM IST
Narendra Modi's Saudi Arabia visit may unnerve Pakistan: US expert
Prime Minister Narendra Modi's recent visit to Saudi Arabia could unnerve Pakistan as economic and strategic opportunities are bringing India closer to the oil-rich gulf nation, a top US expert has said.
Apr 06, 2016, 11:08 AM IST
Oil falls as US crude stocks hit record for seventh week in a row
Oil futures fell in Asian trade on Thursday, with U.S. crude hitting the lowest level in more than two weeks, amid renewed worries of global oversupply after U.S. crude inventories rose to a record high.
Mar 31, 2016, 10:07 AM IST
Crude oil futures plunge Rs 36 on Asian cues
Crude oil futures fell by Rs 36 to Rs 2,722 per barrel today as speculators cut down their positions amid a weakening trend in Asian trade.
At Multi Commodity Exchange, crude for delivery in April dropped Rs 36, or 1.31 percent, to Rs 2,722 per barrel in 4,490 lots.
Oil rises as producers announce meeting on output freeze
Oil prices firmed on Wednesday on an announcement that producers will meet next month in Qatar to discuss a proposal to freeze output and on growing signs of a decline in US crude production
Mar 16, 2016, 17:31 PM IST
Oil prices drop amid ample supply
Oil prices dropped as market expected that global supply exceeded the demand.
Mar 16, 2016, 07:48 AM IST
OPEC output falls despite Iran return more crude
OPEC said Monday its oil production fell in February despite member Iran steadily increasing its output after international sanctions were lifted in January following a landmark nuclear deal.
Mar 14, 2016, 23:15 PM IST
IEA says worst may be over for oil price
The oil price may have finally bottomed out after an unprecedented drop over the past 18 months, the International Energy Agency (IEA) said today, noting oil's "remarkable recovery" over recent weeks.
Mar 11, 2016, 23:44 PM IST
Oil prices may drop to $25/barrel: Moody's
Global oil and gas prices are likely to remain at current lows for several years, with oil dropping to USD 25 per barrel if Iranian production more than offsets supply cuts elsewhere, Moody's Investors Service said Tuesday.
Mar 08, 2016, 19:46 PM IST
Crude prices climb after U.S. oil output falls for 6th week
Crude futures rose in Asian trade on Friday, buoyed by renewed optimism prices may have bottomed out after official U.S. data showed oil production fell to its lowest level since November 2014.
Mar 04, 2016, 12:37 PM IST
Oil prices dip on continued oversupply, despite news of meeting to freeze output
Crude oil prices dipped in early trading on Friday as reports of a meeting by oil producers to freeze output failed to convince traders that enough effort was being made to rein in ballooning global oversupply.
Feb 26, 2016, 09:34 AM IST
Don't reimpose customs duty on crude: Oil companies
An association of companies like IOC and Reliance Industries has requested the government not to reimpose customs duty on crude oil saying that refineries will not be able to absorb additional costs.
Feb 23, 2016, 20:55 PM IST
Oil price to start slow recovery in 2017: IEA
World oil prices are unlikely to rise from current levels before 2017, and even then their recovery will be slow as massive oil stocks feed into the market, the IEA said Monday.
Feb 22, 2016, 17:54 PM IST
Oil loses nearly 4% as hopes over Saudi, Russia deal fade
Brent oil fell almost 4 percent on Tuesday, erasing early gains after top producers Russia and Saudi Arabia dashed expectations of an outright supply cut by agreeing only to freeze output if other big exporters joined them.
Feb 17, 2016, 21:14 PM IST
Iran`s first post-sanctions oil exports to Europe begin
Iran is poised to export its first oil shipments to Europe since international economic sanctions were lifted in mid-January, the oil ministry`s SHANA news service reported on Monday.
Feb 16, 2016, 02:09 AM IST
New crude import policy for spot buys soon: Dharmendra Pradhan
Oil Ministry will soon come up with a Cabinet note on new crude import policy for spot crude purchases by state-owned refiners, doing away with the long-followed tendering process, Minister Dharmendra Pradhan said Monday.
Feb 15, 2016, 20:48 PM IST
Oil rockets from 12-year low on renewed talk of OPEC cut
Global oil prices surged as much as 12 percent on Friday after a report once again suggested OPEC might finally agree to cut production to reduce the world glut, while a bounce in stock markets fed appetite for risk.
Feb 13, 2016, 00:55 AM IST
US crude oil prices fall as inventories hit record high
US crude prices dipped in early Asian trading on Thursday as oil storage levels hit record highs, and Goldman Sachs said prices would remain low and volatile until the second half of the year.
Feb 11, 2016, 07:17 AM IST
UAE's ADNOC to store crude in India's strategic facility; to give two-third of oil for free
In a first of its kind deal, UAE's national oil company Adnoc has agreed to store crude oil in India's maiden strategic storage and give two-third of the oil to it for free.
Feb 10, 2016, 23:10 PM IST
