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Global Oil Prices

Global oil prices would have hit the roof if India had not bought oil from Russia: Minister Hardeep Puri

Global oil prices would have hit the roof if India had not bought oil from Russia: Minister Hardeep Puri

Sat, Nov 09, 2024

The minister noted that India's decision to source oil from Russia has been instrumental in ensuring a balance between energy affordability, availability, and sustainability, a difficult "trilemma" that many nations have struggled with.

Global oil prices: India watching situation very carefully, says Hardeep Singh Puri

Global oil prices: India watching situation very carefully, says Hardeep Singh Puri

Mon, Oct 07, 2024

But supplies are not impacted and India, the world's third largest oil consuming and importing nation, is confident of being able to navigate any situation."I am confident, we will be able to navigate as we did previously," he said.Puri said there is no shortage of oil and India is confident of sourcing its requirement.

Inflation alert! Bangladesh increases petrol price by over 50%, diesel price goes up by 42% | What led to this steep hike

Inflation alert! Bangladesh increases petrol price by over 50%, diesel price goes up by 42% | What led to this steep hike

Sun, Aug 07, 2022

The South Asian country`s $416 billion economy has been one of the fastest-growing in the world for years.

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Oil hits 2018 lows on emerging supply glut, OPEC expected to cut

Oil hits 2018 lows on emerging supply glut, OPEC expected to cut

Fri, Nov 23, 2018

Oil prices slumped to 2018 lows on Friday in choppy trading, pulled down an emerging crude supply overhang amid a bleak economic outlook.

Diesel price hits record high of Rs 69.46 a litre, petrol inches towards Rs 78 mark

Diesel price hits record high of Rs 69.46 a litre, petrol inches towards Rs 78 mark

Mon, Aug 27, 2018

Diesel prices today hit a record high of Rs 69.46 per litre while petrol rates inched towards Rs 78 a litre mark after a fall in rupee made imports costlier.

Oil stable as U.S.-China trade row weighs, Iran sanctions cut supply outlook

Oil stable as U.S.-China trade row weighs, Iran sanctions cut supply outlook

Mon, Aug 27, 2018

Oil prices dipped slightly on Monday on concerns that a U.S.-China trade dispute will erode global economic growth, although looming U.S. sanctions against Iran`s oil sector kept crude from falling further, traders said.

Oil gains after surprise drop in Saudi crude output

Oil gains after surprise drop in Saudi crude output

Mon, Aug 06, 2018

Saudi Arabia pumped around 10.29 million barrels per day (bpd) of crude in July, two OPEC sources said on Friday, down about 200,000 bpd from a month earlier. That came despite a pledge by the Saudis and top producer Russia in June to raise output from July, with Saudi Arabia promising a "measurable" supply boost.

Oil prices fall on concerns of oversupply, low investment

Oil prices fall on concerns of oversupply, low investment

Wed, Aug 23, 2017

Oil prices fell early on Wednesday, squeezed between concerns of oversupply, sparked by rising Libya output, and fears of reduced future investment in the industry.

Oil prices pinned near five-month low as supply glut weighs

Oil prices pinned near five-month low as supply glut weighs

Fri, May 05, 2017

"So far OPEC`s strategy to draw down inventories has not worked ... It seems obvious to us that OPEC will need to keep the cuts in place for longer than the next 6 months if their strategy is to have any chance of success," Neil Beveridge, senior oil and gas analyst at AB Bernstein in Hong Kong said in a note to clients on Friday.

Oil bounces off November lows, but bloated U.S. stockpiles pressure market

Oil bounces off November lows, but bloated U.S. stockpiles pressure market

Thu, Mar 23, 2017

Prices for front-month Brent crude futures, the international benchmark for oil, were at $50.94 per barrel at 0146 GMT, up 30 cents, or 0.59 percent, from their last close. That came after Brent briefly dipped below $50 a barrel the previous session for the first time since November.

Oil prices hit three-month low as U.S. rig count climbs

Oil prices hit three-month low as U.S. rig count climbs

Mon, Mar 13, 2017

U.S. drillers added oil rigs for an eighth consecutive week, Baker Hughes said on Friday, as energy companies increased spending to take advantage of a recovery in crude prices since the Organization of the Petroleum Exporting Countries (OPEC) agreed to cut output.

Oil prices edge up despite unexpected U.S. crude inventory build

Oil prices edge up despite unexpected U.S. crude inventory build

Fri, Dec 30, 2016

Oil prices rose in early Asian trade on Friday shrugging off a second consecutive week of U.S. crude oil inventory builds, with a U.S. Energy Information Administration (EIA) report late on Thursday indicating an unexpected rise in crude stocks.

Oil prices dip but stay near 1-year highs on expected output cut

Oil prices dip but stay near 1-year highs on expected output cut

Tue, Oct 11, 2016

Oil prices jumped as much as 3 percent on Monday, with Brent hitting a one-year peak, after Russia and Saudi Arabia both said a deal between the Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC members like Russia in curbing crude output was possible.

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