Page 5 - Oil Price Rise

Brent oil sees biggest intra-day jump in 28 years. Can the up move sustain?

While in the short-term, the direct physical impact on the market might be limited, analysts say the development has the potential to move the market away from its bearish macroeconomic cycle

Oil rises on expected Opec supply cuts, but record US production drags

Opec's de-facto leader Saudi Arabia wants the cartel and its allies to cut output by about 1.4 million barrels per day

Crude oil hardens ahead of US sanctions on Iran kicking in next month

International benchmark Brent crude oil futures were at $84.94 per barrel at 0008 GMT, up 36 cents, or 0.4 per cent from their last close

As crude hits $80 a barrel, oil import bill may cost govt up to $50 bn

That could lead to an oil import bill of between $130 billion and $155 billion for 2018-19

Oil price rise to inflate import bill by up to $50 billion: DEA Secretary

Economic Affairs Secretary Subhash Chandra Garg said however that economic growth will not be impacted by the rise in oil prices

Oil at $70/barrel for first time in 3 years as production cuts by Opec

Rising prices are putting US production on track to rival both Saudi Arabia and Russia, with output likely to exceed 10 million barrels a day as soon as next month

Oil prices plunge as drop in US inventories encourage more production

Current oil price rally could encourage more production, particularly from the US: Analysts

Oil rises as Saudi Arabia pledges deep cuts to August exports

Oil remains in bear market amid concern that rising global output will offset curbs by Opec, allies