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Indias oil imports in May hit the lowest since Oct 2011. (AFP Photo)

India's oil imports in May sink to lowest in over 8 years

Indian refiners in April filled tanks with cheaper oil, sold extra cargoes to the federal government for strategic...

24 Jun 2020 4:59 AM

Oil prices dipped on Tuesday on jitters that a rise in coronavirus infections. (AFP Photo)

Oil prices drop as coronavirus infections rise

Production from seven major U.S. shale formations is likely to drop to close to a two-year low of 7.63 million barrels...

16 Jun 2020 3:32 AM

Oil prices fell more than 2% on Tuesday. (AFP Photo)

Oil prices drop on demand recovery fears, OPEC+ easing expectations

The market will be watching next move from OPEC+ whose Joint Monitoring Committee will meet on Wednesday to recommend...

14 July 2020 6:04 AM

Oil slipped in early Asian trade on Monday as traders eyed an OPEC technical meeting this week. (AFP Photo)

Oil slips as traders eye supply cut easing at OPEC meeting

Oil prices have recovered sharply in April after OPEC+ cut output by a record 9.7 million barrels per day for three...

13 July 2020 3:32 AM

OPEC and non-OPEC oil producers will meet again this weekend in Austrias capital to discuss the details of last weeks agreement.

Saudis order oil cuts to US, Europe before non-OPEC talks

Iraq and Kuwait have committed to cuts to their oil outputs of 210,000 bpd and 131,000 bpd respectively under the OPEC...

10 Dec 2016 6:59 AM