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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.

Oil stable as US-China trade row weighs, Iran sanctions cut supply...

OPEC member Iran has exported around 2.5 million barrels per day of crude oil so far this year.

27 Aug 2018 9:17 AM IST

India pays its third largest oil supplier in euros using European banking channels and imports.

Oil prices rise on Iran sanctions, but US-China row mutes trading

Brent crude oil futures LCOc1 were at $75.07 per barrel at 0424 GMT, up 34 cents, or 0.5 per cent.

24 Aug 2018 10:39 AM IST

India pays its third largest oil supplier in euros using European banking channels and imports.

Oil prices claw back on supply concerns though but demand worries drag

Brent crude was up 8 cents, or 0.1 per cent, at $78.26 a barrel by 0338 GMT, after falling 2 per cent on Thursday.

14 Sept 2018 10:51 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.

Fiscal incentives for projects to improve oil recovery

Conventional oil and gas fields see output decline and recovery rate drop as they age.

13 Sept 2018 10:04 AM IST

European oil firms jumped more than two per cent on the oil surge and helped the pan-regional STOXX50 index add 0.2 per cent, having just had its best week in exactly five years.

India's oil consumption to race past world's

Oil consumption will rise beom 4.1 million barrels per day in 2015 to 9.2 million bpd in 2035.

26 Jan 2017 2:22 PM IST

Such levels were last seen in February 2015, when Riyadh began to steeply raise production to deal a blow to US shale oil producers.

Saudi Arabia slashes oil output to near 2 year low

The kingdom has slashed its production more than its promised cut.

13 Jan 2017 5:26 AM IST

European oil firms jumped more than two per cent on the oil surge and helped the pan-regional STOXX50 index add 0.2 per cent, having just had its best week in exactly five years.

OPEC 'confident' countries to meet oil output cuts

Crude oil sold for over $100 a barrel in summer of 2014, before bottoming out below $30 a barrel in Jan 2016.

12 Jan 2017 2:25 PM IST

Oil and Natural Gas Corporation or ONGC is a state-owned entity.

Oil prices rise as markets eye on production cuts

Non-OPEC member Russia's oil production in December remained unchanged at 11.21 million bpd.

3 Jan 2017 8:17 AM IST

Heads of prominent oil manufacturing firms in the country such as HPCL, IOC and BPCL have agreed to the scheme and issued circulars to dealers about it.

Global oil supplies up, but OPEC abides by output cut: IEA

In November last year, OPEC countries had agreed to cut output by 1.2 bpd from January 1.

15 March 2017 3:44 PM IST

The move would free private players Essar Oil and RIL, which currently follow the price set by state-owned companies, to also shift to a dynamic model.

March crude oil output gets ONGC lift, grows modestly

Oil production for the all of 2016-17 is 2.5 per cent lower than 36.94 mt a year earlier.

25 April 2017 10:23 AM IST

The Ratna and R-series oil fields hold an estimated 87 million barrels of oil and 1.2 billion cubic metres of gas reserves.

ONGC to start producing oil from R-Series in 2019

ONGC had discovered the fields and created facilities in Ratna R-12, which is part of R&RS, at a cost of Rs 472.55...

5 Dec 2016 12:56 PM IST