Oil Prices | The Asian Age

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Surging oil prices are forecast to dent airlines' profits and could significantly hurt their bottom lines next year.

Surging oil prices to hurt airlines' profits, says IATA

The aviation sector was likely to be at the peak of its profitability cycle after nine years of gains.

31 May 2018 4:44 PM

The government deregulated petrol prices in 2010 and diesel prices in 2014 after which OMCs are free to fix its price.

High oil prices may spoil party for BJP in 2019

In 2018, petrol price in Mumbai has already reached Rs 85.93 a litre on May 27.

28 May 2018 9:15 AM

The International Monetary Fund has called on Saudi Arabia to keep public spending under control. (Photo: AFP)

IMF urges Saudi Arabia to contain spending as deficit widens

Saudi Arabia has embarked on an ambitious reform drive, known as Vision 2030.

23 May 2018 6:41 PM

State-owned oil producers ONGC and Oil India Ltd face increasing risk of the government once again requiring them to share the fuel subsidy burden.

ONGC, OIL face risk of subsidy sharing, says Moody's

This subsidy sharing ended in June 2015 with global oil prices plummeting.

22 May 2018 12:02 PM

Industry seeks cut in fuel excise duty as oil prices zoom

India Inc on Monday urged the government to cut excise duty on petrol and diesel immediately.

21 May 2018 2:24 PM

BJP fall, oil rise to hit markets

Global cues to factor more, says expert.

21 May 2018 1:12 AM

Godrej Appliances, the consumer durables division of the Godrej Group, is likely to hike prices of its refrigerators and washing machines by 2-3 per cent starting June.

Godrej may hike prices of fridge, washing machines by 2-3 per cent

The company expects a 20 per cent growth in refrigerators, led by new launches, and over 25 per cent growth in washing machines.

20 May 2018 4:17 PM

Petrol price on Sunday touched a record high of Rs 76.24 per litre and diesel climbed to its highest ever level of Rs 67.57.

Petrol, diesel touch all time highs as oil companies hike rates

In India, petrol is the costliest in Mumbai where high local taxes has led a price of Rs 84.07 per litre.

20 May 2018 11:57 AM

Saudi Arabia said on Thursday it would make sure the world is adequately supplied with oil to support global economic growth just as top consumer India expressed frustration with oil prices hitting USD 80 per barrel for the first time since 2014.

Saudi Arabia gives assurances on supply as oil hits USD 80 per barrel

Saudi Arabia said it would make sure the world is adequately supplied with oil to support global economic growth.

18 May 2018 12:33 PM

ONGC capital spending not impacted by oil price, says Moody's

Defying a global trend, India's flagship national oil company ONGC did not cut its capital spending.

17 May 2018 2:34 PM

Business sentiment weakest since 2014, says study

India slipped to the sixth position globally in the business optimism index.

09 May 2018 11:32 AM

Saudi Arabian energy minister Khalid al-Falih, meanwhile, said he was concerned about possible shortages of spare crude oil production capacity.

Crude oil rises to fresh highs

Venezuelan crisis, possible imposition of new sanctions on Iran weigh big on minds.

08 May 2018 1:25 AM

Events like rising crude prices and pre-poll predictions on Karnataka elections outcome will trigger sharp volatility in market.

Macro data, US Fed meet to guide markets

Sensex closed at 34,970, up by 554 points or 1.61 per cent, while Nifty closed at 10,692, up by 128 points or 1.21 per cent.

30 Apr 2018 2:47 AM

The Indian economy is witnessing a "cyclical upswing" and the country is likely clock a GDP growth of 7.5 per cent this financial year, says a Deutsche Bank research report.

India likely to clock 7.5 pc growth in FY19: Deutsche Bank

Higher oil prices can potentially slow the pace of recovery.

29 Apr 2018 11:33 AM

Govt concerned about petrol, diesel price pinch, says Pradhan

Pradhan said the states should cut sales tax or VAT on petrol and diesel to ease the burden.

26 Apr 2018 4:56 PM

US West Texas Intermediate (WTI) crude futures were up 31 cents, or 0.5 percent, at $68.36 per barrel.

Oil prices rise on concerns over supply disruptions

Brent crude oil futures LCOc1 were at 74.44 per barrel at 0105 GMT, up 44 cents, or 0.6 per cent.

26 Apr 2018 8:27 AM

Prices for energy commodities like oil, natural gas and coal are expected to jump by a whopping 20 per cent this year, the World Bank has said in a report.

Prices of energy commodities to rise by 20 pc this year: World Bank

Agricultural commodities, including food commodities and raw materials, are anticipated to see a price rise of over two per cent this year.

25 Apr 2018 1:58 PM

Oil rose on Tuesday above USD 75 a barrel to its highest since November 2014, supported by OPEC-led production cuts, strong demand and the prospect of renewed US sanctions on Iran.

Oil prices rise to USD 75 a barrel, highest since 2014

One of the factors limiting the oil rally is rising US production.

24 Apr 2018 4:54 PM

Khaled al-Faleh said on Friday the global market has the capacity to absorb higher oil prices.

Market has capacity to absorb higher oil prices: Saudi minister

Faleh insisted the Organization of Petroleum Exporting Countries (OPEC) does not have a price target for oil.

20 Apr 2018 6:08 PM

Oil markets have generally been well supported this year, with Brent up by around 16 per cent from its 2018-low in February.

Oil prices rise amid risk of supply disruptions

Brent crude oil futures LCOc1 were at $71.80 per barrel at 0120 GMT, up 38 cents, or 0.5 per cent.

17 Apr 2018 9:19 AM

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Shobhaa De