Page 11 - Crude Oil

Oiling wheels of change

China's post-2013 oil strategy offers valuable lessons for India on unlocking new reserves

Russia cuts crude oil exports to keep more barrels at home for refiners

The country's seaborne crude shipments have slumped to the lowest since January, and are likely to remain near that level through to the end of August

Crude oil prices steady amid falling US inventories, China concerns

Brent crude oil futures were up 33 cents, or 0.39%, at $84.06 a barrel by 1204 GMT. U.S. West Texas Intermediate crude futures were up 51 cents, or 0.63%, at $81.27

Govt hikes windfall tax on crude petroleum to Rs 7,000 per tonne

The government on Monday hiked windfall tax on domestically produced crude oil to Rs 7,000 per tonne, from Rs 6,000 per tonne. The tax is levied in the form of Special Additional Excise Duty (SAED). The SAED on the export of diesel, petrol and jet fuel or ATF, has been retained at 'nil'. The new rates are effective from July 16, an official notification said. India first imposed windfall profit taxes on July 1, 2022, joining a host of nations that tax supernormal profits of energy companies. The tax rates are reviewed every fortnight based on average oil prices in the previous two weeks.

Crude Oil: Check key trading strategy on July 02, target price and more

Crude oil prices at $83.50, hover near two months high driven by the renewed geo-political risk in the middle east and red sea region along with the threat of Hurricane Beryl

Govt raises windfall tax on petroleum crude to Rs 6,000 per metric tonne

On June 15, government had cut the windfall tax on petroleum crude to Rs 3,250 ($38.90) per metric tonne from Rs 5,200, according to a official notification

The complexity of green transition

Inaction on generating new revenue as fossil fuel taxes dry up will harm India's economic prospects

The need for hydrocarbon focus

India's green transition must go hand in hand with enhancing private investment in oil and gas exploration

Asia's first half crude oil imports decline, undermines bullish forecasts

The slightly weaker outcome was largely a result of lower arrivals in China, the world's biggest oil importer

Intraday trading strategy for gold, crude oil by Neha Qureshi of Anand Rathi

On the daily chart, MCX Gold for August is hovering near its trend line support. A break below 70,750 could signal bearish sentiments, the analyst said

BPCL to shut 6 MTPA crude unit at Kochi refinery for one-month maintenance

BPCL also plans to expand the Bina refinery's capacity from the current 7.8 MTPA to 11 MTPA by mid-2027

Oil outlook, June 27: Oil a 'buy on dips' bet; MCX Crude support at Rs 6700

WTI/MCX crude oil outlook today: The overall weekly inventory report is disappointing as it is indicating slowdown in the US consumer/industrial demand

WTI Oil strategy, June 25: Outlook bullish on tight supply; Support at $77

Crude oil strategy: Crude remains on track for a monthly gain. The immediate support for WTI remains at $ 78.78 (50-DMA) and short-term support stays at $77.13 (200-DMA)

WTI crude oil to stay rangebound within $78-$83; check strategy for June 20

Crude oil strategy for June 20, 2024: WTI crude oil could test resistance of $85 over the medium term

Oil dips in Asian markets, copper slides to 8-week low on China data

Copper fell as much 1.1 per cent to $9,631 a ton on the London Metal Exchange, heading for its lowest close in two months

Russia boosts crude oil revenues as shipping, trading network grows

India has no sanctions against Moscow and became the biggest buyer of Russian seaborne crude ahead of China and Turkey after European refiners stopped imports

Global crude oil supply to outpace demand by 2030 as glut looms: IEA

Demand growth to be driven by India, China

Passing the sell-by date

Shifting policy goalposts has been the bane of the disinvestment programme

Crude oil pares weekly loss as Opec+ says it can cancel supply hike

Brent crude futures were trading near $80 a barrel, rebounding from the four-month low struck on Monday after Saudi Arabia and its partners outlined planes to gradually resume production

OPEC+ extends oil output cuts to 3rd qtr in bid to support prices: Report

Oil prices trade near $80 per barrel, below what many OPEC+ members need to balance their budget. Worries over slow demand growth in top oil importer China have weighed on prices