Page 38 - Crude Oil
India's core sector output expands at six-month high of 8.4% in April
The output of eight infrastructure sectors of coal, crude oil, natural gas, refinery products, fertiliser, steel, cement and electricity had expanded by 4.9 per cent in March 2022.
 "India's core sector output expands at six-month high of 8.4% in April")
Cash-strapped Sri Lanka takes Russia oil as fuel crisis persists
The sole refinery is set to receive crude today, enabling its restart after 2 months
 "Cash-strapped Sri Lanka takes Russia oil as fuel crisis persists")
Govt needs to clarify whether it wants oil price control or exports
The consequences of such confused messaging were felt in the lack of bidders for BPCL, forcing Delhi to abandon efforts to privatise the refiner
 "Govt needs to clarify whether it wants oil price control or exports")
Bias turns negative for MCX Crude Oil; Natural Gas futures may consolidate
The MCX Crude Oil futures may test Rs 7,540-odd level this week; while on the upside MCX Natural Gas May futures are likely to face resistance around Rs 590.
 "Bias turns negative for MCX Crude Oil; Natural Gas futures may consolidate")
India's crude imports rise 4.2% to 19.03 mn ton in March on demand recovery
India's fuel demand had scaled a three-year peak in March, with petrol sales hitting an all-time high, as demand rose and the market built up supplies ahead of expected price increases
 "India's crude imports rise 4.2% to 19.03 mn ton in March on demand recovery")
Controversy over India's decision to buy Russian crude is overblown
Because the economics and logistics don't work out for Indian refiners to accept larger volumes
 "Controversy over India's decision to buy Russian crude is overblown")
Sustaining export growth
Commodity prices will push up trade deficit
 "Sustaining export growth")
Oil prices gain 1% after US crude stocks signal tighter supply
The gains come on the back of news from Tuesday that the European Union is working on new sanctions against Russia for waging war on Ukraine that will target Moscow's oil industry.
 "Oil prices gain 1% after US crude stocks signal tighter supply")
Oil slips on China demand concerns while EU weighs Russia oil ban
Both benchmark contracts rose more than 40 cents on Monday and extended those gains modestly in early trade on Tuesday
 "Oil slips on China demand concerns while EU weighs Russia oil ban")
Iraq exports over 100 million barrels of crude oil in April: Oil ministry
The average selling price for crude oil in April was 104.09 dollars per barrel, according to a ministry statement, citing statistics from the State Organization for Marketing of Oil
New gas pipeline boosts European Union's bid to ease Russian supply
The Greek-Bulgaria border is where the European Union is redrawing the region's energy map to ease its heavy reliance on Russian natural gas
 "New gas pipeline boosts European Union's bid to ease Russian supply")
A core problem in domestic oil: Widening gap between targets and output
A persistent gap between output and targets has played its part in subdued core-sector growth
 "A core problem in domestic oil: Widening gap between targets and output")
America discourages India from relying on Russia for defence: US officials
Remarks by American officials this week came amid growing disquiet in the West over India's refusal to directly condemn the Russian-Ukraine conflict and its decision to procure discounted Russian oil
 "America discourages India from relying on Russia for defence: US officials")
Imran Khan once again praises India's foreign policy at Lahore rally
Earlier in March, Imran Khan has admitted that the foreign policy of India is independent and for the betterment of the people
 "Imran Khan once again praises India's foreign policy at Lahore rally")
India visit will deepen strategic ties, says British PM Boris Johnson
Ahead of Johnson's two-day visit, Downing Street has stressed that the UK would not look to "lecture" India over its neutral stance in the United Nations or its decision to hike Russian oil imports
 "India visit will deepen strategic ties, says British PM Boris Johnson")
India doubles down on every major Russian oil variety as flows persist
India has a longstanding relationship with Russia that includes weapons buying, and purchasing of oil adds to the Kremlin's coffers while it tackles financial sanctions
MRPL surges 13% on heavy volumes; stock zooms 58% in April
The stock hit over three-year high of Rs 65.45, after rallying 13% on the BSE in Wednesday's trade, on the back of heavy volumes.
 "MRPL surges 13% on heavy volumes; stock zooms 58% in April")
Bias positive for MCX Crude Oil, Natural Gas: Key levels to watch out
The MCX Crude Oil futures may seek support around the 50-DMA at Rs 7,716; while the bias for Natural Gas is likely to remain bullish as long as it sustains above Rs 525.
 "Bias positive for MCX Crude Oil, Natural Gas: Key levels to watch out")
Russia's Putin, Saudi's bin Salman discuss bilateral ties and oil
The Saudi readout of the call said the crown prince affirmed support for efforts that would lead to a political solution to the crisis in Ukraine
 "Russia's Putin, Saudi's bin Salman discuss bilateral ties and oil")
Oil prices rise over 2% despite big US crude stock build
Brent crude was up $2.72, or 2.6%, to $107.36 a barrel by 12:52 p.m. (1652 GMT) U.S. West Texas Intermediate (WTI) crude futures gained $2.39, or 2.4%, to $102.99
 "Oil prices rise over 2% despite big US crude stock build")