Page 26 - Crude Oil Price

Explained: Why Opec+ members find it hard to agree oil production quotas

OPEC+ negotiations over production quotas have often been difficult in the past. Oil production tends to vary month by month, making it difficult to fix on a permanent production target.

Petrol, diesel price revision only when oil price stabilises below $80

State-owned fuel marketing companies are likely to revert to daily revision in prices of petrol and diesel only when international oil prices stabilise below USD 80 per barrel on a sustained basis, industry officials said. Three state-owned fuel retailers -- Indian Oil Corporation Ltd (IOCL), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) -- which control roughly 90 per cent of the market, have kept petrol and diesel prices on freeze for a record 20th month in a row. This is despite the raw material (crude oil) cost surging last year, leading to heavy losses in the first half of 2022-23 fiscal year before easing rates propelled them to profitability. "There is considerable volatility in the international oil market and prices fluctuate wildly," an official said. "Oil companies can cut prices by Re 1 per litre and everyone will applaud. But when international oil prices go up, will they be allowed to raise rates remains in doubt." India is the

India's oil imports from Russia rebound in November on Diwali demand

India has boosted purchases of Russian oil sold at a discount after imports from Russia were shunned by some Western countries following its invasion of Ukraine last year

Crude oil refining output rose less than 1% in October to 20.6 MMT

Of this, government-owned oil companies and joint ventures processed 14.3 MMT, while private refiners processed 6.2 MMT of crude oil, the data showed

India's October crude oil imports rise after four months of declines

Crude imports in October rose 5.9% month-on-month to 18.53 million metric tons, rebounding from a one-year low in September

Crude, gas supply concerns ease as Israel-Hamas strike peace deal

Around 6-8 per cent of ONGC's gas production comes from new wells. Gas price may be assumed at $6.5/mmBtu from Q3FY24

Fedbank Financial raises Rs 330 cr; Ireda IPO subscribed 2x on Day 1

Unifi Capital on Tuesday received Securities and Exchange Board of India's (Sebi) in-principle nod to set up a mutual fund house

Sensex at 86,000; Nifty at 21,800: How foreign brokerages see mkts in 2024

The upcoming general elections in April/May 2024 are expected to add volatility to the Indian markets, keeping investors on their toes

Crude oil sinks into a bear market, all eyes on Opec+ leaders meet

The International Energy Agency said earlier this week that production growth means the global market won't be as tight as had been expected this quarter

RIL, banks, IT stocks drag Sensex 188 pts down, Nifty below 19,750

Closing Bell on November 17, 2023: The broader markets, on the other hand, notched gains with the BSE MidCap and SmallCap indices rising 0.27 per cent and 0.36 per cent, respectively

Sensex gains 307 pts, Nifty holds 19,750; IT stocks dazzle, PSBs decline

Closing Bell on November 16, 2023: Among sectors, the Nifty PSU Bank index fell 0.24 per cent, the Nifty FMCG 0.15 per cent, and the Nifty Bank 0.09 per cent

Centre cuts windfall tax on crude oil to Rs 6,300/tonne, halves for diesel

Windfall tax: The levy on the export of jet fuel and petrol will continue to be zero

Oil prices fall on big US crude stock build, Asian fuel demand worries

Brent futures fell 28 cents to $80.90 a barrel by 0001 GMT. U.S. West Texas Intermediate crude (WTI) lost 31 cents to $76.35 a barrel.

Oil price falls on high US production, despite strong demand signals

In signs of healthy U.S. crude supply, American Petroleum Institute figures on Tuesday showed rising crude oil and gasoline inventories last week

Easing inflation, US yields: Key reasons why Sensex, Nifty rallied on Wed

Analysts said the recent inflation reading in the US suggests the Fed may be done with rate hikes and the timeline for rate cuts in 2024 could be sooner than expected

Crude oil prices edge higher as IEA raises demand growth forecast

A US crackdown on Russian oil exports could also disrupt supply, supporting prices further.

Brent crude oil hovers around $80 after this week's downward spiral

Earlier in the week customs data showed that China's total exports of goods and services contracted faster than expected

OMCs unlikely to cut pump prices in 2023 despite windfall gains: Officials

Petrol prices unchanged for record 18 months now, OMCs continuing facing under recoveries

Sensex slides 238 pts, Nifty below 19,100; pvt banks, Airtel, RIL weigh

Closing Bell on Tuesday, October 31: The broader markets saw some action with the BSE MidCap index rising 0.29 per cent and the BSE SmallCap index 0.02 per cent

Cleared all payments pending for Russian oil purchases: BPCL official

The Indian government has expressed discomfort over settling payment for Russian oil in Chinese yuan