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Oil prices nudged higher on Monday on tighter supplies from major producers. (AFP Photo)

Oil prices higher on tighter supply, but demand concerns resurface

Oil prices have also been supported by a recovery in fuel demand globally following a collapse in April-May during...

22 Jun 2020 8:58 AM IST

Diesel price on Sunday hit a fresh record high after rates were hiked by 60 paise per litre while petrol price was up 35 paise. (PTI Phoá¹o)

Fuel rates hiked for 15th day; Diesel price hits record high, petrol...

Out of the total tax incidence of Rs 49.43 per litre, Rs 31.83 is by way of central excise and Rs 17.60 is VAT

21 Jun 2020 11:45 AM IST

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 IST

Oil prices fell more than 1% in early trade on Thursday as a spike in new coronavirus cases. (AFP Photo)

Oil prices drop on demand worries as coronavirus cases rise

A rise in US crude stockpiles to a record high for a second week in a row also weighed on sentiment

18 Jun 2020 9:27 AM IST

Indias fuel demand reaches 80-85% of pre-COVID levels. (AP Photo)

Fuel demand improves sharply in June as lockdown restrictions ease

Fuel consumption at 14.65 million tonnes in May was 47.4 per cent higher than April but 23.3 per cent lower than a year...

16 Jun 2020 4:36 PM IST

Oil prices dipped on Tuesday on jitters that a rise in coronavirus infections. (AFP Photo)

Oil prices drop as coronavirus infections rise

Production from seven major U.S. shale formations is likely to drop to close to a two-year low of 7.63 million barrels...

16 Jun 2020 9:02 AM IST

Indias fuel demand rose by nearly 50% in May from the previous month as the country eased coronavirus-led restrictions. (PTI Photo)

Fuel demand jumps nearly 50% in May as lockdown restrictions ease

Petrol and diesel sales in May, however, increased by 81.8% and 69.1% respectively from April

11 Jun 2020 11:14 AM IST

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...

30 July 2020 8:56 AM IST

Indian refiners cut runs as fuel demand dips, margins fade. (AFP Photo)

Indian refineries face shutdowns as fuel demand drops

In July, however, local demand growth has slowed because of high fuel prices, renewed lockdown in parts of the country

29 July 2020 10:31 AM IST

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 July 2020 4:17 PM IST

Oil prices dipped on Monday, weighed down by the prospect that a rise in the pace of coronavirus infections could derail a recovery in fuel demand. (AFP Photo)

Oil falls as worsening pandemic threatens recovery

In the US, energy drillers cut the number of oil and natural gas rigs operating to a record for an 11th week in a row

20 July 2020 8:05 AM IST

Oil prices were unchanged on Friday, with trading marked by growing uncertainty about global recovery in fuel demand as new COVID-19 cases surge in several countries. (AFP Photo)

Oil prices mixed as virus spike casts shadow over demand

The two benchmark contracts fell 1% on Thursday after OPEC+ agreed to trim record supply cuts of 9.7 million barrels per...

17 July 2020 8:49 AM IST