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Ever since the government came to power in 2014, experts pointed out that the lower crude oil prices over the last few years had helped the government to significantly improve Indias macro economic indicators.

India oil demand to rise by 5.8 million barrels per day by 2040: OPEC

Global oil demand is expected to increase by 14.5 million bpd from 2017 to 111.7 million bpd in 2040.

16 Oct 2018 11:28 AM IST

Iran is offering to insure oil cargoes to India after some local insurers stopped providing the service in the face of impending US sanctions, industry sources said, a move that would help Tehran continue supplying its second biggest oil client.

IEA lowers its growth forecast in oil demand for 2018, 2019

The estimated growth in global demand has been reduced by 1,10,000 barrels per day for each of the two years.

12 Oct 2018 2:44 PM IST

The oil ministry held a meeting with refiners on Thursday, urging them to scout for alternatives to Iranian oil, the sources said. (Representational Image/AFP)

India to surpass China to become 2nd largest oil demand centre in 2019

During April-December, consumption of petroleum products has been 157.4 million tonnes, up 2.5 per cent.

22 Jan 2019 4:09 PM IST

Facts first. Crude oil prices rose 0.61 per cent to Rs 4,157 per barrel in futures trade on July 12 as speculators raised their exposure, tracking a rebound in global markets.

IEA says does not expect 'huge increase' in crude prices

The IEA is reducing its 2019 oil demand forecast due to a slowing global economy amid a US-China trade spat.

19 July 2019 11:01 AM IST

Petroleum ministry has been demanding to bring petrol and diesel on GST to give relief to consumers from high prices.

India's fuel demand rose 3.3 per cent in July

Sales of gasoline, or petrol, were 8.8 per cent higher from a year earlier at 2.52 million tonnes.

12 Aug 2019 9:04 AM IST

Oil climbs as suppliers stick to output cuts, coronavirus lockdowns ease. (AFP Photo)

Oil climbs as suppliers stick to output cuts, coronavirus lockdowns...

OPEC+ countries are set to meet again in early June to discuss maintaining their supply cuts to shore up prices

26 May 2020 8:42 AM IST

Indias crude oil imports fall, product exports surge in April. (AFP Photo)

India's crude oil imports fall, product exports surge in April

Oil product imports dropped 6.5% to 3.35 million tonnes, their first year-on-year decline in 16 months

23 May 2020 9:22 AM IST

Oil prices ease on dim economic outlook despite signs of firmer demand. (AFP Photo)

Oil prices slip on dim economic outlook, despite improved demand

A bleak economic outlook from the U.S. Federal Reserve put downward pressure on oil prices

20 May 2020 9:16 AM IST

Oil prices fell in early Asian trading on Wednesday . (AFP Photo)

Oil falls amid concerns about second wave of virus, rise in...

Traders shrugged off a further call by Saudi Arabia for larger production cuts to balance the market following a...

13 May 2020 8:29 AM IST

Indias fuel demand dipped 45.8% in April. (PTI Photo)

India's fuel demand crashes nearly 50% in April

The country's fuel demand is set to recover with easing restrictions on industrial activity and transport in areas

10 May 2020 3:22 PM IST

Diesel price on Monday scaled a new high after prices were hiked for the 22nd time in just over three weeks. (ANI Photo)

Fuel prices hiked after a day's pause; Petrol, diesel above Rs 80 in...

Petrol price was increased by 5 paise per litre and diesel 13 paise a litre across the country

29 Jun 2020 11:19 AM IST

Oil prices fell for a second straight session on Monday as coronavirus cases rose. (AFP Photo)

Oil falls in second straight session as virus cools demand

Even as higher oil prices prompt producers to resume drilling, number of operating oil and natural gas rigs dropped to...

29 Jun 2020 8:50 AM IST