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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 11:34 AM IST

The 10 per cent stake was split between OVL, IOC and BRPL in 40:30:30 ratio.

Business

OVL FY18 net profit up 29 per cent on higher oil production

Consolidated net profit in 2017-18 fiscal at Rs 981 crore was 29.6 per cent higher than Rs 757 crore.

24 May 2018 12:53 PM IST

US oil shipments to China have surged, creating trade between the worlds two biggest powers that until 2016 just did not exist.

Business

Oil prices fall as increased US drilling points to higher output

US crude oil production has risen by more than a fifth since mid-2016, to 10.38 million barrels per day.

19 March 2018 10:21 AM IST

Crude oil was trading higher 0.68 per cent to Rs 4,139 per barrel in futures market on Thursday.

Business

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.

9 May 2018 8:33 AM IST

A fuel glut in China, a hangover from demonetisation in India, and an ageing, declining population in Japan are holding back crude oil demand growth in three of the worlds top four oil buyers.

Business

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.

3 May 2018 8:48 AM IST

Saudi Aramco, the worlds top oil company which is preparing to go public, said on Sunday it has appointed new members to its board including a female executive.

Business

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.

6 Jun 2018 8:43 AM IST

Business

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

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

4 Jun 2018 8:59 AM IST

Business

Oil extends decline after biggest monthly slump in two years

Brent fell more than 6 per cent in July, while US crude futures slumped about 7 per cent.

1 Aug 2018 9:33 AM IST

Reliance Industries plans to shut oil and gas production at its main fields in KG-D6 block in the coming months.

Business

Oil edges lower as supply concerns return

Oil prices tanked earlier this week when US govt reported that US inventories rose 3.8 mn barrels in prior week.

3 Aug 2018 9:10 AM IST

Though Dubai depends less on oil income, fluctuations in crude oil prices have affected all sectors of its economy. The slowdown took its toll on the small and unorganised sectors in the form of unpaid outstanding dues for companies, unpaid wages for workers and large scale job losses.

Business

Oil prices inch up on Saudi output cut, but slowing economic growth...

Brent crude oil futures LCOc1 were at $72.81 per barrel at 0515 GMT, up 20 cents, or 0.3 per cent.

14 Aug 2018 12:00 PM IST

$Tamil Nadu govt this week ordered the state Pollution Control Board to seal and \permanently\ close the Vedanta groups copper plant in Tuticorin.$ Business

Vedanta to invest USD 2.3 billion in 'near term' on oil and gas

Vedanta aims to increase production from the current 2,00,000 barrels of oil equivalent per day to 3,00,000 bpd.

19 Aug 2018 3:34 PM IST

The growth of eight core sectors slowed to 3-month low of 4.1 per cent in March due to weak performance in as many as six sectors including coal, crude oil and natural gas.

Business

Oil rises on Iran sanctions, lower US fuel inventories

US commercial crude inventories fell by 2.6 million barrels in the week to August 24, to 405.79 million barrels.

30 Aug 2018 1:49 PM IST