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The US government plans to shut Iran’s oil exports out of the market from November, demanding that all countries stop buying its oil.

Oil prices climb on tightening US market

US crude inventories fell by 4.5 million barrels in the week to June 29 to 416.9 million barrels.

04 Jul 2018 8:51 AM

Irrespective of its current crisis, Dubai has developed a sustainable model under which the city flourishes when its neighbourhood is doing well.

Gulf dream is over, but Dubai holds out

Dubai has been going through a rough patch as slackening consumer demand broke the back of retail trade, the mainstay of the emirate’s economy.

02 Jul 2018 5:23 AM

With oil producers' cartel OPEC playing havoc with prices, India discussed with China the possibility of forming an 'oil buyers club' that can negotiate better terms with sellers as well as getting more US crude oil to Asia to cut dominance of the oil block.

India discusses to form 'Oil Buyers Club' with China

Production cuts by OPEC have led to international oil prices hitting a four year high last month.

13 Jun 2018 4:55 PM

OPEC, together with some non-OPEC producers including Russia, started withholding output in 2017 to end a global supply overhang and prop up prices.

Oil edges up on cautious optimism over Trump, Kim summit

Brent crude futures were trading at $76.56 per barrel at 0201, up 10 cents from their last close.

12 Jun 2018 8:51 AM

That’s a 28 per cent gain in two years, putting the US close to becoming the world’s biggest crude producer, edging nearer to the 11 million bpd churned out by Russia.

Oil Prices dip on fall in China demand

Further weighing on prices has been rising US output, which hit another record last week at 10.8 million bpd.

09 Jun 2018 5:52 AM

OPEC producers to raise oil output, although it has not requested a specific figure.

US oil prices inch up on fall in local crude stockpiles

US West Texas Intermediate crude CLc1 was up 10 cents, or 0.2 per cent, at $65.62 a barrel.

06 Jun 2018 8:43 AM

OPEC and non-OPEC Arab oil ministers agreed on the need for continued cooperation to balance global supply.

Oil climbs, but record US crude output, higher OPEC supplies drag

US crude stocks were forecast to fall about 2.5 million barrels on average in the week ended June 1.

05 Jun 2018 8:46 AM

The curbs have driven down inventories and pushed up oil prices.

Arab oil ministers stress need for continued OPEC, non-OPEC cooperation

Russia and several other producers agreed to cut output by about 1.8 million barrels per day.

04 Jun 2018 8:59 AM

Cost of diesel per liter has also been increased and the revised prices in Delhi are Rs 69.17 and Mumbai Rs 73.64 per litre.

Fuel prices surges for 15th day, touches Rs 78. 27 in Delhi

Hike in crude oil price in the international market are some of the factors affecting the fuel price.

28 May 2018 9:34 AM

Union Petroleum and Natural Gas Minister Dharmendra Pradhan earlier assured the public that the government will soon take out a solution to tackle the situation. (Representational Image/File)

Fuel prices continue to increase for 14th consecutive day

The revised petrol prices in metro cities are - Delhi: Rs 78.12 per litre; Mumbai: Rs 85.93; Kolkata: Rs 80.76 and Chennai: Rs 81.11.

27 May 2018 9:54 AM

An increase of about 1 million bpd would bring compliance with global supply curbs down to 100 per cent from around 152 per cent

OPEC, non-OPEC discuss around 1 mn bpd oil output rise: sources

OPEC and non-OPEC ministers meet next in Vienna on June 22-23, and the final decision will be taken there.

25 May 2018 1:49 PM

US West Texas Intermediate (WTI) crude futures were down 17 cents, or 0.24 per cent, at $71.67 a barrel.

Oil prices drop on potential increase in OPEC output

International benchmark Brent futures were down 27 cents, or 0.34 per cent, at $79.53 per barrel.

24 May 2018 9:26 AM

Oil minister hints at steps to keep fuel price rise in check

On Monday, industry lobby group FICCI called for an immediate cut in the excise duty on oil imports.

22 May 2018 1:35 AM

Union Petroleum Minister Dharmendra Pradhan said increase in fuel prices was due to reduced production of oil in OPEC and hike in crude oil price in international market. (Photo: File/PTI)

Govt to find solution to combat fuel price hike soon: Dharmendra Pradhan

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

21 May 2018 11:03 AM

Brent broke through $80 for the first time since November 2014 last week.

Oil prices boosted by news China, US put trade war 'on hold'

WTI crude futures were at $71.83 a barrel, up 55 cents, or 0.8 per cent, from their last settlement.

21 May 2018 9:43 AM

Markets have generally tightened as the OPEC, led by Saudi Arabia, have been withholding supplies since 2017 in order to push up oil prices.

Oil near Nov 2014 highs firm as markets tighten amid OPEC cuts

Brent crude futures LCOc1, the international benchmark for oil prices, were at $78.37 per barrel.

15 May 2018 8:18 AM

Around a million barrels of oil a day is likely to disappear from global oil markets if the US sanctions on Iran bite.

Oil ebbs from multi-year highs on surge in US drilling

Brent and WTI last week reached their highest since November 2014 at $78 and $71.89 per barrel respectively.

14 May 2018 9:05 AM

Brent crude futures LCOc1 rose 1.9 per cent to $76.26 per barrel, within a whisker of its 3 1/2-year high of $76.34 set on Monday.

Oil shines, shares rattled as Trump dumps Iran nuclear deal

Iran produces about 3.8 million barrels per day (bpd), or about 4.0 per cent of the world’s oil supplies.

09 May 2018 8:33 AM

Brent crude futures LCOc1 were down 53 cents, or 0.7 per cent, at $75.64, having jumped 1.7 per cent to settle at $76.17 a barrel in the previous session.

Oil prices fall as market awaits Trump decision on Iran

WTI crude futures CLc1 fell 63 cents, or 0.9 per cent, to $70.10 a barrel.

08 May 2018 8:17 AM

US West Texas Intermediate (WTI) crude futures were down 28 cents, or 0.4 per cent, at $67.65 per barrel.

Oil prices fall on rising US crude inventories, record production

Brent crude oil futures LCOc1 were at $73.04 per barrel, down 32 cents, or 0.4 per cent, from their last close.

03 May 2018 8:48 AM

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Anita Katyal