Crude Oil | The Asian Age

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Amid uncertainty over impending US sanctions against Tehran, Indian Oil Corp (IOC) has booked for import of usual monthly quantity of 0.75-0.8 million tonnes of crude oil from Iran in October but is unsure if the trade would continue thereafter, a senior official said.

IOC books Iranian oil imports for October; uncertain about future

State refiners, however, have no advice from the government on Iranian imports yet, the official said.

12 Sep 2018 3:04 PM

India refiners shipped in 1.02 million barrels per day (bpd) of Iraqi Basra oil in August.

Iraq replaces Saudi as top oil supplier to India in August: report

Overall India’s monthly oil imports in August rose 3.1 per cent to about 4.7 million barrels.

11 Sep 2018 9:19 AM

Niti Aayog Vice Chairman Rajiv Kumar said on Wednesday the government need not respond to daily or weekly changes in the oil prices as they declined in July after showing northward movement a month ago.

Govt need not respond to daily, weekly changes in oil prices: Niti Aayog

Crude oil has gained USD 7 a barrel in a fortnight, driven by fears that the US sanctions on Iran will likely contract supplies.

05 Sep 2018 4:10 PM

OPEC and Saudi Arabia do not have an official price target and are unlikely to adopt one formally.

Saudi Arabia aims to keep crude in USD 70 to USD 80 band: sources

Saudi Arabia still wants to keep oil prices as high as possible without offending Washington.

05 Sep 2018 9:41 AM

Rupee closes at 71 on dollar demand, crude oil concerns

After opening the day at 70.95 a dollar, the rupee hit the psychological 71 level mark against the dollar in the intra-day trade.

01 Sep 2018 12:12 AM

Eight core sectors grew by 6.6 per cent in July pushed by healthy output in coal, refinery products, cement and fertiliser.

Eight core sectors grow by 6.6 per cent in July

The eight core sector includes coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity.

31 Aug 2018 6:54 PM

Brent crude oil LCOc1 was up 30 cents a barrel at $77.44 by 0745 GMT. US light crude CLc1 was 30 cents higher at $69.81.

Oil rises on Iran sanctions, lower US fuel inventories

US commercial crude inventories fell by 2.6 million barrels in the week to August 24, to 405.79 million barrels.

30 Aug 2018 1:49 PM

International Brent crude oil futures were at $75.75 per barrel at 0122 GMT, down 7 cents from their last close.

Oil stable as US-China trade row weighs, Iran sanctions cut supply outlook

OPEC member Iran has exported around 2.5 million barrels per day of crude oil so far this year.

27 Aug 2018 9:17 AM

OPEC exporting on average around 2.5 million barrels per day (bpd) of crude and condensate this year.

Oil prices rise on Iran sanctions, but US-China row mutes trading

Brent crude oil futures LCOc1 were at $75.07 per barrel at 0424 GMT, up 34 cents, or 0.5 per cent.

24 Aug 2018 10:39 AM

US commercial crude oil inventories fell by 5.8 million barrels in the week to August 17 to 408.36 million barrels.

International oil prices slip as trade spat escalates

International benchmark Brent crude oil futures were at $74.63 per barrel.

23 Aug 2018 11:11 AM

The official said that if the government hikes its fiscal deficit from 3.3 per cent to 6.39 per cent, the government can push Rs 7 lakh money in the economy and GDP growth will come to around 13 per cent.

13 per cent reckless growth was possible

This has result in a heated debated between Congress and BJP as the report comes before the elections next year.

22 Aug 2018 5:15 AM

Prime Minister Narendra Modi addresses the World Bio-Fuel Day 2018 function in New Delhi. (Photo: PTI)

Let’s talk development: Why the system needs fixing

Availability of resources need not constraint our understanding of linkages and our ability to come up with effective solutions.

22 Aug 2018 12:14 AM

Iran produced around 3.65 million barrels per day of crude in July.

Oil prices slip on concerns over slowing economic growth

Brent crude futures, which act as a benchmark for international oil prices, were at $71.60 per barrel.

20 Aug 2018 11:24 AM

The rupee’s plunge to a record low has worried a wide cross-section of India’s society: companies, importers, those going on vacation and students planning to study overseas. (Photo: Twitter)

If rupee fall continues, it can hurt Narendra Modi

Prime Minister Narendra Modi’s job could become a lot harder just before big state and national elections.

16 Aug 2018 4:24 PM

India's crude oil import bill is likely to jump by about USD 26 billion in 2018-19 as rupee dropping to a record low has made buying of oil from overseas costlier, government officials said on Thursday.

India's oil import bill to jump by USD 26 billion on rupee woes

If the rupee is to stay around 70 per dollar for the rest of the ongoing fiscal, the oil import bill will be USD 114 billion.

16 Aug 2018 2:36 PM

“Oil bears are taking their turn in the driving seat,” said Stephen Brennock, analyst at London broker PVM Oil Associates.

Crude falls on poor outlook

Official US oil inventory data was due to be published later on Wednesday by the Energy Information Administration.

16 Aug 2018 12:33 AM

The OPEC report said it expected world oil demand to grow by 1.43 million bpd in 2019, down from 1.64 million bpd in 2018.

Oil prices inch up on Saudi output cut, but slowing economic growth drags

Brent crude oil futures LCOc1 were at $72.81 per barrel at 0515 GMT, up 20 cents, or 0.3 per cent.

14 Aug 2018 12:00 PM

WTI crude futures CLc1 were down 10 cents, or 0.15 per cent, at $66.71 per barrel.

Oil dips as US, China trade dispute expected to stall economic growth

US crude oil exports to China, seen as a tool to reduce America’s trade deficit with Asia’s biggest economy.

10 Aug 2018 9:17 AM

The main oil market price drivers of recent months have been output levels by top producers Russia.

Oil rises ahead of renewed US sanctions against Iran

Spot Brent crude oil futures were at $73.88 per barrel at 0241 GMT on Tuesday, up 13 cents, or 0.2 per cent.

07 Aug 2018 10:40 AM

Brent crude futures LCOc1 were down 13 cents, or 0.2 per cent at $73.32 a barrel by 0052.

Oil edges lower as supply concerns return

Oil prices tanked earlier this week when US govt reported that US inventories rose 3.8 mn barrels in prior week.

03 Aug 2018 9:10 AM

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Krishna Shastri Devulapalli