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Last month India took in 2 million barrels of Iranian crude for the SPR stocks, and another 4 million barrels is expected to be shipped in November.

Iran replaces Saudi Arabia to become top oil supplier to india

Iran produces almost 4 million bpd of oil and exports 2.4 million bpd.

17 Nov 2016 4:05 PM IST

AN oil rig (Photo: Pixabay)

Oil prices fall after industry report shows stock build

US benchmark crude CLc1 was down 26 cents at $45.55 a barrel at 0208 GMT.

16 Nov 2016 9:23 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

OPEC and non-OPEC oil producers will meet again this weekend in Austrias capital to discuss the details of last weeks agreement.

Oil prices edge up tighter supply outlook

OPEC to cut crude supplies from this month in an effort to end global oversupply that has dogged markets for over two...

4 Jan 2017 10:15 AM 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 daily change in prices of petrol and diesel across the country follows the success of a pilot implementation in five cities.

Govt under pressure to cut excise duty on auto fuels: Icra

Brent prices have jumped 40 per cent to around USD 67 per barrel this month from USD 48 in November 2016.

29 Dec 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.

India's oil imports from Iran plunge over gas field row

India plans to order about a quarter less Iranian crude due to a snub over development of Iran's Farzad B gas field.

15 Jun 2017 4:48 PM IST

OPEC and non-OPEC oil producers will meet again this weekend in Austrias capital to discuss the details of last weeks agreement.

Oil prices fall on profit taking, strong dollar

A strong dollar makes greenback-denominated commodities including oil more expensive for holders of other currencies.

23 Dec 2016 7:41 AM IST

The market seems unwilling to push oil towards $50 a barrel ahead of the Thanksgiving holiday tomorrow.

Oil prices up on weaker dollar, optimism on output cuts

Brent LCOc1 futures for February delivery climbed 17 cents to $54.63 a barrel, having previously finished 89 cents...

22 Dec 2016 7:59 AM IST

OPEC and non-OPEC oil producers will meet again this weekend in Austrias capital to discuss the details of last weeks agreement.

Saudis order oil cuts to US, Europe before non-OPEC talks

Iraq and Kuwait have committed to cuts to their oil outputs of 210,000 bpd and 131,000 bpd respectively under the OPEC...

10 Dec 2016 12:29 PM IST

OPEC and non-OPEC oil producers will meet again this weekend in Austrias capital to discuss the details of last weeks agreement.

Oil prices rise on US crude stock decline

International Brent crude futures were trading up 4 cents at $53.04 a barrel.

8 Dec 2016 11:34 AM IST