Oil heads towards $27 per barrel as IEA warns market could 'drown in oil'
Prices have crashed about 75 percent since mid-2014, hit by a perfect storm of a supply glut, weak demand, a slowing global economy and a strong dollar.
Jan 20, 2016, 13:11 PM IST
Oil plummets to $29 per barrel, dragging world stocks lower
Oil prices plummeted to $29 a barrel on Friday on the impending resumption of Iranian oil exports into an already flooded market as international sanctions against the country are lifted, dragging equity indexes around the world sharply lower.
Jan 16, 2016, 12:32 PM IST
Asia shares hit 3-1/2-year lows as oil resumes fall
Asian stocks surrendered earlier gains to hit 3-1/2-year lows on Friday as renewed pressure on oil prices and disappointing Chinese data kept investors on edge.
Jan 15, 2016, 10:05 AM IST
Petrol and diesel prices to come down soon! Watch video
With the price of Brent crude oil falling to a 12-year low in the international markets, the prices of petrol and diesel are likely to come down soon in the Indian market too.
Jan 14, 2016, 17:06 PM IST
Watch: Why rates of petrol and diesel may come down soon
Why rates of petrol and diesel may come down soon.
Jan 14, 2016, 16:25 PM IST
Brent falls to another 12-year low on oversupply gloom
It was the second time in two days for Brent, the global benchmark, to drop below $30 a barrel.
Jan 14, 2016, 10:09 AM IST
Oil cheaper than water but why is petrol sold at Rs 60 per litre? Find our here
It is well-known that bottled water is being sold at Rs 15 - 20 in the country. The crude oil that reached India on January 7 cost Rs 12.6 per litre.
Jan 13, 2016, 18:54 PM IST
Oil down again to 12-year low; $30 handle looks more likely
Brent settled down 48 cents at $33.75, after sliding to a low of $32.16, a level last seen in April 2004.
Jan 08, 2016, 09:17 AM IST
Oil extends losses, nears $33 a barrel
Oil prices plunged close to $33 a barrel on Thursday as crude extended losses on rising US energy stockpiles and China's weakening currency.
Jan 07, 2016, 11:56 AM IST
Iran-Saudi crisis punches another hole in OPEC unity
Escalating diplomatic tensions between Iran and Saudi Arabia have added fresh strains on OPEC's unity as the cartel grapples with a common response to rock-bottom oil prices, experts said.
Jan 06, 2016, 13:03 PM IST
Oil prices subdued in Asia
Oil prices remained weak in Asia on Tuesday on tepid economic data from Japan and indications that major crude exporter Saudi Arabia's 2016 budget is based on prices staying low.
Dec 29, 2015, 11:28 AM IST
US Congress decides to lift 40-year ban on oil export
The US is set to lift a four-decade ban on export of oil, a move that may benefit countries like India by giving them an option to purchase crude from non-Middle Eastern nations.
Dec 17, 2015, 11:37 AM IST
IOC to invest Rs 1.75 lakhs crore in expansion projects
IOC, India's largest oil firm, will invest Rs 1.75 lakh crore over the next seven years on expanding refinery capacity, building petrochemical plants and laying pipelines, a company official said.
Dec 13, 2015, 18:26 PM IST
Bank of England ends 2015 with interest rates on hold
The Bank of England has kept interest rates at a half a percent, it announced Thursday in the last monetary policy decision of the 2015.
Dec 10, 2015, 19:06 PM IST
Technip explores sale, has held talks with FMC Technologies
French oilfield services company Technip is exploring a sale and has held talks with US peer FMC Technologies Inc about a potential combination, according to people familiar with the matter.
Dec 10, 2015, 12:27 PM IST
OPEC meets under oil supply glut cloud
OPEC gathers in Vienna this week to decide on whether to trim the cartel`s oil output faced with a global supply glut, sliding prices and weak demand growth.
Dec 02, 2015, 19:05 PM IST
Saudi says oil price slump should not stop investment
Oil prices have slumped by more than 50 percent since the middle of last year amid a worldwide supply glut, prompting the cancellation of a string of major investment projects.
Nov 19, 2015, 21:19 PM IST
Oil prices drop amid rising supplies
Oil prices fell on Tuesday as market expected that the US supplies continued to expand.
Nov 18, 2015, 06:31 AM IST
Russian crisis-hit economy slumped 4.1% in third quarter
Russia's economy shrank 4.1 percent in the third quarter this year, official statistics showed today, as a recession caused by low oil prices and Western sanctions over Ukraine continued to take its toll.
Nov 12, 2015, 23:20 PM IST
Gulf should adjust to new oil price 'reality': IMF
Gulf economies need to adjust to the "new reality" of oil prices expected to remain low for some time, the International Monetary Fund says, recommending spending cuts and income diversification.
Oct 21, 2015, 22:02 PM IST
