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Global oil News

05 Jan 2016

PM Narendra Modi meets oil bigwigs to give fillip to investments

Modi emphasised on the need for taking a fresh look at the sector.

22 Oct 2015

Oil prices edged up after recent losses

Oil prices edged up in Asia on Thursday, lifted by bargain-hunting following a sharp decline the day before, although analysts said the market remains hobbled by an oversupply of the commodity.

20 Oct 2015

Oil prices plunge amid strong US dollar

Oil prices dropped on Tuesday as the stronger US dollar made the dollar-priced crude more expensive and less attractive for buyers holding other currencies.

07 Oct 2015

Oil prices sustain rally

Buoyant oil prices sustained a rally in Asia on Wednesday driven by hopes the crude supply glut would ease and expectations the US central bank would hold off from raising interest rates.

05 Oct 2015

Oil extends gains in Asia

The number of active rigs in the United States fell by 26 to 614 last week, the lowest in five years, helping ease concerns over the global crude oversupply that has depressed prices.

01 Oct 2015

Oil prices fluctuate amid mixed data

Oil prices wavered as US crude data came in mixed.

30 Sep 2015

Oil prices retreat in Asian trade

Oil prices retreated in Asia on Wednesday as traders focus on US crude stockpile report, a day after growing concerns over China`s economy sparked a massive sell-off in shares of commodity firms.

25 Sep 2015

Oil prices edge up but Iran supply expectations cap gains

Oil prices edged up in Asian trade on Friday following a decline in US crude inventories, although heavier buying was tempered by expectations a return of Iranian crude into the market will further increase global supplies.

22 Sep 2015

Watch: Japanese man shows how to convert plastic waste to oil

07 Jun 2015

IIP, inflation data, monsoon key for markets this week: Experts

Data for industrial production for April and consumer price index (CPI) for May is scheduled to release on Friday.

28 May 2015

Sour is the new sweet: OPEC's view of oil quality dilemma

The US shale oil boom is turning global crude pricing on its head with the historical notion that light grades shall be priced at a premium to heavy ones quickly disappearing, according to predictions from producer group OPEC.

12 Mar 2015

China, India drive global energy needs, ex-OPEC official

The global energy industry has seen huge demand from two fast-growing major economies China and India even as consumption dropped in Europe.

15 Feb 2015

Global oil demand estimated to have grown in 2014: OPEC

According to a report by UAE's official news agency Wam, quoting OPEC MOMR, the adjustment mainly reflects better-than-expected oil demand data from OECD America and China.

01 Sep 2014

Diesel under-recovery declines steeply, deregulation imminent

This is the first time in over a decade that retail pump prices are almost in line with imported cost of the nation's most consumed fuel.

17 Jul 2014

Oil prices up on US demand hopes

WTI surged $1.25 in New York Wednesday after the US Energy Information Administration (EIA) said reserves fell 7.5 million barrels in the week to July 11.

16 Jul 2014

Losses on diesel sales fall to Rs 2.49 per litre

The difference between the cost of diesel production and the retail selling price had more than doubled to Rs 3.40 a litre in the first half of July.

20 Jun 2014

Rupee down for fourth straight week, closes at 60.18 vs dollar

The partially convertible rupee ended at 60.1850/1950 per dollar versus its previous close of 60.08/09.

16 Jun 2014

Crude prices rise in Asia on Iraq violence

The crisis has a direct bearing on crude prices because Iraq is the second-biggest oil exporter in the 12-nation OPEC after Saudi Arabia.

14 Jun 2014

India watchful of Iraq crisis, no need to panic: Mayaram

The government is cautious about the crisis in Iraq, which is the second-largest oil supplier after Saudi Arabia.

Bank of England

13 Jun 2014

British rate hike hint boosts sterling, Iraq unrest drives up oil

Bank of England Governor Mark Carney said that British interest rates could rise sooner than financial markets expect.

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