Saudi Oil

With Saudi Arabia and Russia set to flood the market with oil next month, producers and shippers have been scrambling to lock oil up in storage as demand falls.

As confidence on equities declines, large oil producers may hesitate to loosen their purse strings, thereby impacting valuations too

Deal between Russia and OPEC shook on Friday when OPEC, led by Saudi Arabia, failed to reach agreement with the world's No. 2 oil producer Russia to deepen production cuts aimed at shoring up prices.

Saudi Arabia is a key pillar of India's energy security, being a source of 17 per cent or more of crude oil and 32 per cent of LPG requirements of India

India depends on Saudi Arabia for a fifth of its oil imports and has been in constant touch with Kingdom officials on securing its supplies

The Sept. 14 attacks on the Abqaiq and Khurais plants, some of the kingdom's biggest, caused raging fires and significant damage that halved the crude output of the world's top oil exporter

US to deploy forces in Gulf on after drone attacks on Saudi oil facilities

Crude oil loading delays were widespread as most buyers have received Aramco's request to push back shipments in October by 7-10 days

On Tuesday, Petroleum Minister Dharmendra Pradhan met Russian oil giant Rosneft's Chief Executive Office Igor Sechin and discussed raising crude imports from that country

Pradhan spoke to his Saudi counterpart on phone and discussed in details supply plan in the aftermath of a massive attack on the Kingdom's crude oil facilities

Minister says volatility in international pricing a cause of concern for India

There are expectations that the largest-ever disruption of crude production in Saudi Arabia may keep oil prices elevated in the near term

Attacks on crude-processing facilities at Abqaiq and Khurais resulted in the largest single supply disruption in half a century.

The development came as tensions mount between the arch-foes after Washington blamed Tehran for attacks on Saudi oil installations

Spike in oil prices will translate into a matching or higher increase in fuel prices in domestic market

While paints and adhesive players too will see some margin pressure, upstream companies like ONGC, OIL India and GAIL are seen as beneficiaries

Fresh from their longest rally in 20 months, many currencies foundered after the weekend drone attack on the Saudi Aramco installations led Riyadh to halve production

Fares may rise sooner if crude oil price remains elevated, say airlines

'Every dollar move in the Brent prices adds around $2 billion to India's oil imports bill'

State energy producer Saudi Aramco lost about 5.7 million barrels per day of output after 10 unmanned aerial vehicles struck the world's biggest crude-processing facility