Oil Production | The Asian Age

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Brent crude oil LCOc1 was up 30 cents a barrel at $77.44 by 0745 GMT. US light crude CLc1 was 30 cents higher at $69.81.

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

International Brent crude oil futures were at $75.75 per barrel at 0122 GMT, down 7 cents from their last close.

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

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

OPEC exporting on average around 2.5 million barrels per day (bpd) of crude and condensate this year.

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

Vedanta Limited has said it will be investing USD 2.3 billion towards capex on its oil and gas activities in the 'near term' to increase the reserve base by around 375 million barrels.

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

The OPEC report said it expected world oil demand to grow by 1.43 million bpd in 2019, down from 1.64 million bpd in 2018.

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

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

Brent crude futures LCOc1 were down 13 cents, or 0.2 per cent at $73.32 a barrel by 0052.

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.

03 Aug 2018 9:10 AM

October Brent crude futures LCOV8 dropped 29 cents, or 0.4 per cent, to $73.92 a barrel.

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.

01 Aug 2018 9:33 AM

WTI futures set to decline 5.9 per cent to, the biggest monthly drop since March 2017.

Oil prices drop on oversupply concerns as OPEC output increased in July

OPEC hiked production by 70,000 barrels per day (bpd) to 32.64 million bpd, the most this year.

31 Jul 2018 10:22 AM

India loaded about 7,15,600 bpd oil from Tehran in the April-June 2018, a growth of about 45 per cent from the previous quarter.

India loaded 12 pc less Iranian oil in June than in May

Indian refiners bought around 6,64,000 barrels per day (bpd) of Iranian oil in June.

31 Jul 2018 8:22 AM

US West Texas Intermediate crude futures were up 5 cents at $69.35 a barrel, after climbing more than 1 per cent in the previous session.

Oil climbs after Saudi Arabia suspends shipments through Red Sea lane

Brent crude futures had risen 47 cents, or 0.6 per cent, to $74.40 a barrel, after gaining 0.7 per cent.

26 Jul 2018 10:05 AM

US West Texas Intermediate crude was down 36 cents, or 0.5 per cent, at $67.72.

Oil prices drop amid surprise jump in US stockpiles

Brent futures were down 31 cents, or 0.4 per cent, at $71.85 a barrel by 0240 GMT.

18 Jul 2018 9:16 AM

OPEC producers to raise oil output, although it has not requested a specific figure.

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.

06 Jun 2018 8:43 AM

The curbs have driven down inventories and pushed up oil prices.

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

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

04 Jun 2018 8:59 AM

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

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

Brent crude futures LCOc1 rose 1.9 per cent to $76.26 per barrel, within a whisker of its 3 1/2-year high of $76.34 set on Monday.

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.

09 May 2018 8:33 AM

US West Texas Intermediate (WTI) crude futures were down 28 cents, or 0.4 per cent, at $67.65 per barrel.

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.

03 May 2018 8:48 AM

Brent crude oil futures LCOc1 were at $73.82 per barrel at 0325 GMT, up 34 cents, or 0.5 per cent.

Oil near late-2014 highs as Saudi pushes for higher prices

Oil prices have the potential to rise another 15 per cent over the remainder of 2018.

19 Apr 2018 9:57 AM

The changed terms have fixed a floor for government’s share of profit petroleum in running contracts.

Govt tweaks production sharing contracts mid-way, oil and gas reform hit

Companies put investments worth billions of dollars on hold.

16 Apr 2018 8:40 AM

Brent crude futures LCOc1 were at $68.52 per barrel, down 13 cents, or 0.2 per cent.

Oil prices seesaw as US trade dispute with China rattles market

US WTI crude futures CLc1 were at $63.26 a barrel at 0031 GMT, down 16 cents, or 0.3 per cent.

10 Apr 2018 8:39 AM

IOC’s current capacity stands at about 1.62 million bpd including 230,00 bpd controlled by its subsidiary Chennai Petroleum Corp.

Indian Oil plans USD 22 billion expansion over five years

IOC processed a record 1.38 million bpd crude at its directly owned plants in 2017-18.

02 Apr 2018 9:20 AM

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Sunil Gatade