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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

On a similar note, Rajeev Radhakrishnan, head of fixed income at SBI Mutual Fund said pre-emptive rate hike seems more in response to financial market stability

Rate hike in tune with global trend to back rupee

Indonesia also faced similar pressure, with the currency facing the heat from strong foreign debt outflows and rising bond yields.

07 Jun 2018 12:27 AM

Opec ministers from Saudi Arabia, the UAE, Kuwait and Algeria along with their counterpart from non-Opec Oman met unofficially in Kuwait on Saturday.

Oil prices dip as Opec mulls higher output

US crude production climbed to 10.47mbpd in March.

05 Jun 2018 2:12 AM

ONGC logged a Rs 4,000 crore loss on natural gas output in the fiscal year ended March 31, 2018.

ONGC logs Rs 4,000 cr loss on gas production due to cap on prices

Natural gas constitutes around 45 per cent of ONCG's total crude oil and natural gas production volume.

03 Jun 2018 12:14 PM

Crude oil prices have remained high in the recent past due to production cuts by Opec and a gradual recovery in the global economic growth.

Crude oil may derail economy

To slowdown foreign investment, increase inflation, balloon imports.

26 May 2018 12:34 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

Petrol and diesel prices are rising due to an increase in the price of crude oil.

Age Debate: Do we go for short-term gain?

With fuel prices rising, the government needs to cut its taxes to give citizens relief.

24 May 2018 2:05 AM

The company meets about 70 per cent of its oil needs through annual contracts deals, mainly with Middle Eastern producers.

Indian Oil to turn to traditional suppliers to meet Iran oil shortfall

IOC plans to buy 140,000 bpd of Iranian oil in 2018-19 and has an option to buy an additional 40,000 bpd.

23 May 2018 10:20 AM

The issue of petrol and diesel prices is also expected to come for discussion during the Union Cabinet meeting on Wednesday.

IOC hints at more fuel price hikes

Finance ministry is averse to slash excise duty; Union Cabinet to discuss issue today.

23 May 2018 1:26 AM

Seek new fuel sources

India has its own resources which for some reason has never been fully exploited.

19 May 2018 1:57 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

ONGC Videsh Ltd, India's flagship overseas oil investment firm, has dragged Sudan to an international arbitration court.

ONGC Videsh drags Sudan to arbitration to recover USD 400 mn

The payment of dues on account of crude oil purchased by the government of Sudan has not been received.

13 May 2018 12:58 PM

Narendra Modi win in 2019 is priced in

Most foreign investors have ‘priced in’ a second term for the Narendra Modi government in the 2019 general elections.

09 May 2018 11:44 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

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

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

Crude inventories rose by 3.4 million barrels to 432.575 million in the week to March 27.

Oil prices rise on Iran sanction worries, despite surging US supplies

Brent crude oil futures LCOc1 were at $73.25 per barrel at 0020 GMT, up 12 cents, or 0.2 per cent.

02 May 2018 9:32 AM

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Krishna Shastri Devulapalli