Page 10 - Oil

India's domestic crude oil production slips to 28-year low in FY22

Production declined every month for last 4-and-a-half years in core sector index; old fields among likely reasons

Oil prices settle up ahead of US driving season, EU embargo decision

"Demand is strong with products leading the way, especially gasoline which dragged crude oil up with it," said John Kilduff, a partner at Again Capital LLC.

Oil, toil and turmoil

India's geological potential remains largely unexplored because of policy hostility and high-handed taxation rather than the lack of expertise

G7 to phase out Russian oil, US sanctions Gazprom bank over Ukraine war

The move represents the latest attempt by the West to put pressure on Russian President Vladimir Putin for his country's invasion of Ukraine and the deadly aftermath that ensued.

Oil prices climb as European Union gets set to ban Russian crude

The European Commission is expected to finalise work on Tuesday on a sixth package of European Union (EU) sanctions against Russia over its actions in Ukraine

India ends FY22 with 2.6% drop in oil production

India's crude oil production fell 2.67 per cent in fiscal year ending March 31, as state-owned ONGC produced less than the target, but natural gas output rose helped by KG production by Reliance-BP

Top headlines: Plan for 75 digital banks, IPL broadcast rights, and more

Business Standard brings you the top headlines on Wednesday

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 slides on worries about lockdowns in China, release of reserves

Brent crude was down $2.32, or 2.3%, at $100.46 a barrel by 0427 GMT, while U.S. West Texas Intermediate crude lost $2.37, or 2.4%, to $95.89.

Oil prices slipped in early Asian trading; Brent Crude falls to $102.40

Oil prices slipped in early Asian trading, following the second straight weekly decline after world consumers announced plans to release crude from strategic stocks and as Chinese lockdowns continued

Indian Oil to invest Rs 840 crore to set up plant, raise storage capacity

Indian Oil Corporation on Sunday said it will invest nearly Rs 840 crore in expanding its Petroleum, Oil and Lubricant storage capacities, including setting up a greenfield facility, in the Northeast

India buys Russian sunoil at record high price as Ukraine supplies halt

Refiners bought crude sunflower oil at a record price of $2,150 a tonne, including cost, insurance and freight, in India for April shipments, compared with $1,630 before Russia invaded Ukraine

India buying discounted Russian oil wouldn't be violating US sanctions: WH

However, support for the Russian leadership is support for an invasion that obviously is having a devastating impact, White House Press Secretary Jen Psaki told reporters

Iran ready to supply required oil for world market, says official

Mohsen Khojasteh Mehr, head of the National Iranian Oil Company (NIOC), has said that his country is ready to supply the required oil for the world market and stabilise prices.

Here's how surging oil prices shift the economic outlook in Asia

As a net importer of energy, Asia is vulnerable to the oil price spike triggered by Russia's invasion of Ukraine

Global shares slide, oil rises as Russian oil ban looms

Since Russia invaded Ukraine on February 24, Western sanctions have cut Russia off from international trade and financial markets.

Biden announces release of 30 mn barrels oil to control global oil prices

Biden announced that his council has worked with 30 other countries to release millions of barrels of oil from American strategic reserves to maintain the global oil prices during Russia Ukraine war

OPEC+ trims 2022 oil market surplus forecast in latest data: Report

OPEC+ revised down its forecast for an oil market surplus this year by about 200,000 barrels per day to 1.1 million bpd, according to a base scenario in a technical committee report seen by Reuters

Top headlines: Ukraine president pleads for peace, oil shock may sting

Mutual funds are keeping their powder dry to invest in LIC's IPO that is expected to hit the market next month

World's most-important oil price tops $100, signals more to come

It also shows that the rally in futures prices - they passed $96 at one point on Wednesday - is in part being driven by what's happening in the real world