Page 10 - Oil Market

OPEC president says oil market rebalancing, pandemic still a risk

OPEC and other key exporters such as Russia, a grouping dubbed OPEC+, meet on Thursday and are expected to discuss allowing as much as 1.5 million barrels per day (bpd) back into the market

Oil extends losses on worry over possible supply increase from OPEC

The group meets on Thursday and could discuss allowing as much as 1.5 million barrels per day (bpd) of crude back into the market

Oil mixed, US crude hits highest since 2019 as refineries restart

Brent futures for April delivery fell 16 cents, or 0.2%, to settle at $66.88 a barrel. The April Brent contract expires on Friday

Oil prices hovers near 13-month highs as storm hits US production

Both contracts touched their highest since Jan. 8, 2020, earlier in the session with Brent at $67.49 and WTI at $63.67. The April Brent contract expires on Friday

ONGC takes leaf out of Reliance's book, floats subsidiary to buy own gas

ONGC may use the new subsidiary to buy any new gas that the firm produces from fields such as KG-D5 in the Krishna Godavari basin, people with direct knowledge of the matter said

Petrol crosses Rs 88-mark to hit record high in Delhi, diesel at Rs 78.38

Petrol prices in Mumbai stood at Rs 94.64 on Tuesday as compared with Rs 94.36 yesterday. One litre of diesel will cost Rs 85.32 in the city

Stocks, oil rise in Asia after US records as Bitcoin pauses for breath

Oil also hit 13-month highs, helped by rising optimism about a return in fuel demand

Oil prices rise by 1% as producers commit to slashing fuel output

Brent crude was up 51 cents, or 0.9%, at $56.86 a barrel by 0134 GMT, while U.S. oil gained 53 cents, or 1%, to $54.08 a barrel

Oil industry seeks alliance with Farm Belt to fight Biden's EV agenda

While the oil industry and biofuels producers are natural competitors for space in America's gas tanks, they share a desire to ensure a future for internal combustion engines.

Oil rises as US oil stockpiles drop as Covid-19 cases decline in China

U.S. West Texas Intermediate (WTI) crude futures rose 10 cents, or 0.2%, to $52.71 a barrel at 0229 GMT, reversing some of Tuesday's loss

Joe Biden to announce moratorium on oil and gas sales on public lands

Two people with knowledge of Biden's plans outlined the proposed moratorium, which will be announced Wednesday.

Oil prices fall for second session as Covid lockdown concerns cast pall

Brent crude futures for March fell 15 cents, or 0.3%, to $55.26, while U.S. West Texas Intermediate crude for March was at $52.19 a barrel, down 8 cents, or 0.2%

Oil falls on China's Covid-19 cases, fresh restrictions, high crude build

Brent crude futures declined 60 cents, or 1.1 per cent, to US$55.50 a barrel

Oil slips on surprise rise in US crude stocks, fuel fears of demand fall

U.S. West Texas Intermediate (WTI) crude futures fell 27 cents, or 0.5%, to $53.04 a barrel at 0147

Oil up 1% on stimulus hopes, tightening market ahead of Biden inauguration

Brent crude was up 53 cents, or 1%, at $56.43 a barrel

Oil prices drops 1% as rising coronavirus cases end supply-led rally

US oil was down by 43 cents, also nearly 1%, at $51.93 a barrel, having declined 2.3% in the previous trading session

Weak retail data, Covid-19 lockdowns weigh on stocks and oil; dollar rises

U.S. bond yields and stocks had risen recently partly on expectations about the rollout of coronavirus vaccines and on a massive stimulus plan

IEA says oil market outlook clouded by vaccine roll-out variables

LONDON (Reuters) - Oil producers face an unprecedented challenge to balance supply and demand as factors including the pace and response to COVID-19 vaccines cloud the outlook, an official with International Energy Agency (IEA) said on Wednesday.

Iraq devalues dinar to lower budget inflation as oil prices squeeze revenue

The devaluation decision came as a preemptive move to prevent "draining Iraq's foreign reserves" and help government to secure public servants' salaries, the bank said

Oil marketing companies continue to hold petrol, diesel price rise

OMCs have gone on a pause mode at a time when the news of successful coronavirus and expectations of big pick up in demand had kept crude on the boil with prices breaching $ 50 a barrel mark