Crude Oil

Saturday, Apr 20, 2024 | Last Update : 04:14 AM IST

The Panamanian-flagged tanker, MT Pollux, reportedly sustained minor damage and its crew remains unharmed. (Representational Image: Twitter)

Houthis target oil tanker to India

This marks the third incident in the past month where Houthi missiles have targeted India-bound ships

18 Feb 2024 1:08 AM

The first is the rising cost of crude oil, all set to breach the psychological $100 a barrel of Brent mark. (AP File Image)

AA Edit | Fuel, US Fed: Headwinds to economy

The cause for worry comes from other factors that will come into play despite India’s comfortable position as a big and growing oil consumer

22 Sep 2023 12:00 AM

Assuming that Russian crude oil is $70 per barrel, Delhi will have to pay Rs 5,740 ($70 x Rs 82) per barrel to the seller-exporter in Moscow. If India were to pay in Chinese currency, the Indian importer companies will have to pay 490 yuan per barrel ($70 x 7 yuan). (File Image DC)

Abhijit Bhattacharyya | Why allow yuan payments for import of Russian oil?

Indian companies have begun to pay for the import of Russian crude oil not in the dollar

19 Jul 2023 12:00 AM

The Centre has cut the windfall profit tax on domestically produced crude oil.(Representational image: Twitter)

Centre cuts windfall tax on domestic crude oil

The government has also cut the rate on export of diesel to Rs 5 per litre from Rs 8 per litre

16 Dec 2022 12:51 PM

White House press secretary Jen Psaki speaks during a press briefing at the White House, Friday, March 18, 2022, in Washington. (AP)

'Legit energy transactions of India should not be politicised'

The US said it is in touch with India on the matter and sent a thinly-veiled message

20 Mar 2022 6:55 AM

India has to keep focussing on competitive energy sources and it welcomes offers from all oil producers as geopolitical developments have posed significant challenges to the country's energy security, sources said. (Representational Image/PTI)

India's legitimate energy transactions should not be politicised: Sources

Russia has made the offer to India and many other countries after the US last week banned all Russian oil and gas imports

18 Mar 2022 11:37 PM

Lower purchases of oil from the Middle East dragged OPEC's share of Indian oil imports to a record low. (Photo: PTI/File)

Middle East's share of India's oil imports hits 25-month low

Asia's third-largest economy imported about 4.2 million barrels per day (bpd) of oil in May

24 Jun 2021 11:19 AM

Eight core sectors expanded by 2.6 per cent in July 2019 but contracted by 9.6 percent in 2020. (PTI file photo)

Only the farmer bats for India as eight core sectors shrink 9.6%

Only the fertiliser industry continued to grow through the worst of the Covid months

31 Aug 2020 5:12 PM

Oil prices struggle to hold five-month high amid pandemic worries. (AFP Photo)

Oil prices struggle to hold five-month high amid growing demand fears

Investors remained wary of rising refined product inventories at a time when US bankers said rise in cases was slowing the economic recovery

06 Aug 2020 9:01 AM

Oil prices dipped on Thursday as a surge of coronavirus infections around the globe raised fears a rebound in fuel demand. (AFP Photo)

Oil prices slip on demand worries as coronavirus cases rise

The potential hit to demand comes as OPEC+ countries, are set to step up output in August, adding about 1.5 million bpd to global supply

30 Jul 2020 8:56 AM

Oil slips as rising virus cases, US-China tensions weigh on markets. (AFP Photo)

Oil prices fall amid US-China tensions, increasing pandemic fears

Oil demand has improved somewhat from the deep trough of the second quarter, supporting prices, although the recovery path is uneven

27 Jul 2020 2:21 PM

China imports more oil from Saudi than any other country in June. (AFP Photo)

China's crude imports from Saudi hit fresh high in June

Imports from Saudi Arabia rose to 8.88 million tonnes or 2.16 million bpd in June

26 Jul 2020 4:17 PM

Oil prices fell on Wednesday as industry data showed a bigger- than-expected inventory build in the United States where coronavirus cases continue to climb. (AFP Photo)

Oil prices fall on US inventory build, increasing pandemic fears

Industry group American Petroleum Institute reported U.S. crude inventories rose last week by 7.5 million barrels

22 Jul 2020 8:44 AM

Oil prices offered up a mixed market snapshot on Monday. (AFP Photo

Oil prices mixed as virus spike casts shadow over demand

OPEC and allies including Russia have pledged to slash production by a record 9.7 million barrels per day (bpd) for a third month in July

06 Jul 2020 9:15 AM

Oil prices dipped on Thursday after the United States recorded its biggest one-day spike in coronavirus cases. (AFP Photo)

Oil prices slip on demand fears as virus cases surge

The EIA data showed that gasoline imports hit the highest level since last August and peaked the most on a seasonal basis in nine years

02 Jul 2020 10:30 AM

Oil prices creep up on demand recovery, tempered by virus outbreaks. (AFP Photo)

Oil prices rise on demand recovery, despite surge in virus cases

The prospect of increased US crude production also kept a lid on gains on Friday

26 Jun 2020 9:25 AM

Crude oil imports fell to 14.61 million tonnes. (AP Photo)

India's May crude oil imports post biggest decline since at least 2005

Oil products imports eased 0.8% to 3.57 million tonnes year-on-year, while exports rose by 5.9% to 5.75 million tonnes

21 Jun 2020 9:10 AM

Oil falls on rise in US crude stocks, potential second wave. (AFP Photo)

Oil falls amid virus resurgence fears, rise in inventories

OPEC panel will meet on Thursday to further discuss ways to strengthen and review compliance to curb oil production and support prices

17 Jun 2020 9:41 AM

Oil prices climbed on Tuesday as the easing of coronavirus lockdown measures across the globe lifted trader hopes for a swift recovery in demand. (APF Photo)

Oil prices rise as easing of lockdown spurs fuel demand

U.S. crude and gasoline inventories are estimated to have fallen by 1.5 million barrels and about 100,000 barrels respectively in a week

09 Jun 2020 11:37 AM

Oil hits three-month high over hopes for output cuts

OPEC countries including Russia may extend production cuts of 9.7 million barrels per day, or about 10% of global output into July or August

03 Jun 2020 11:35 AM

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Shobhaa De