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Irans Foreign Affairs Minister Mohammad Javad Zarif met his Indian counterpart, Sushma Swaraj, in New York on the sidelines of United Nations General Assembly. (Photo: AP)

India to stop importing oil from Iran; make up lost volumes from...

India is likely to press with the US government for continuation of beyond its expiry on May 2.

23 April 2019 2:16 PM IST

The oil ministry held a meeting with refiners on Thursday, urging them to scout for alternatives to Iranian oil, the sources said.

US to end all waivers on imports of Iranian oil, crude price jumps

United States on Monday demanded that buyers of Iranian oil stop purchases by May 1 or face sanctions.

23 April 2019 12:12 PM IST

A fuel glut in China, a hangover from demonetisation in India, and an ageing, declining population in Japan are holding back crude oil demand growth in three of the worlds top four oil buyers.

Oil near 2019 highs after US ends all Iran sanction exemptions

WTI crude futures hit their highest level since October 2018 at USD 65.95 per barrel before edging back to USD 65.89.

23 April 2019 9:54 AM IST

Crude oil was trading higher 0.68 per cent to Rs 4,139 per barrel in futures market on Thursday.

Oil prices soar by about 3 per cent as plans US end to Iran sanction...

Brent crude futures rose as much as 3.3 per cent to USD 74.31 a barrel, the highest since November.

22 April 2019 10:54 AM IST

Crude oil was trading higher 0.68 per cent to Rs 4,139 per barrel in futures market on Thursday.

Oil prices extend losses despite surprise drop in US inventories

US West Texas Intermediate (WTI) crude futures were at USD 63.67 per barrel, down 9 cents, or 0.1 per cent.

18 April 2019 9:10 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.

Indian refiners turn to OPEC, Mexico, US to make up Iran oil gap

Refiners have not yet placed orders for Iranian oil for May, when current waiver expires, pending clarity from US.

17 April 2019 4:55 PM IST

Opec ministers from Saudi Arabia, the UAE, Kuwait and Algeria along with their counterpart from non-Opec Oman met unofficially in Kuwait on Saturday.

Oil prices extend losses as oversupply worries drag

US West Texas Intermediate (WTI) crude futures were at USD 63.32 per barrel, down 8 cents, or 0.13 per cent.

16 April 2019 10:57 AM IST

Crude oil was trading higher 0.68 per cent to Rs 4,139 per barrel in futures market on Thursday.

Oil prices firm amid OPEC supply cuts, US sanctions on Iran and...

China and India comprise nearly 55 per cent of global demand growth.

12 April 2019 10:27 AM IST

US oil shipments to China have surged, creating trade between the worlds two biggest powers that until 2016 just did not exist.

Saudi oil cuts deeper than promised: International Energy Agency

The Paris-based IEA said production by OPEC kingpin Saudi Arabia dropped to its lowest level in two years in March.

11 April 2019 6:11 PM IST

Crude oil was trading higher 0.68 per cent to Rs 4,139 per barrel in futures market on Thursday.

Oil slips from 5-month highs as economic worries counter tight market

International benchmark Brent futures touched their strongest level since last November at USD 71.34 per barrel.

9 April 2019 9:34 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.

Saudi minister says oil market headed for 'balance'

Saudi Energy Minister Khalid al-Falih said he did not "think we need to" when asked if kingdom was prepared to make...

8 April 2019 3:38 PM IST

Crude oil was trading higher 0.68 per cent to Rs 4,139 per barrel in futures market on Thursday.

Saudi Arabia threatens to ditch dollar oil trades to stop 'NOPEC':...

At the current price of USD 70 per barrel, the annual value of global oil output is USD 2.5 trillion.

5 April 2019 8:48 AM IST