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International oil prices News

06 Mar 2021

India should use oil it purchased last year at cheaper rates: Saudi Arabia

India had purchased 16.71 million barrels of crude in April-May, 2020 The average cost of that crude purchase was USD 19 per barrel Excise duty was raised by Rs 13 and Rs 16 per litre on petrol and diesel between March 2020 and May 2020

31 May 2019

Oil drops 1%, set for biggest monthly fall since November as trade wars spread

Front-month Brent crude futures, the international benchmark for oil prices, were at $65.97 at 0639 GMT, down by 90 cents, or 1.4%, from last session`s close.

International oil prices

17 May 2018

Oil hits highest since Nov 2014 as Brent edges closer to $80

They earlier touched their highest in more than 3-1/2 years at $79.49 a barrel.

International Energy Agency

11 Oct 2016

Oil glut to last until mid-2017 unless OPEC cuts output: IEA

A massive oil glut may weigh on world markets deep into next year unless the OPEC producer cartel makes good on its promise to cut output, the International Energy Agency (IEA) said today.

Global Oil Prices

12 Feb 2016

Oil rockets from 12-year low on renewed talk of OPEC cut

Global oil prices surged as much as 12 percent on Friday after a report once again suggested OPEC might finally agree to cut production to reduce the world glut, while a bounce in stock markets fed appetite for risk.

13 Jan 2016

Oil prices rebound after falling below $30 per barrel

International oil prices

15 Jul 2015

India to benefit from oil price fall post-Iran deal: Pradhan

International oil prices will come down with the imminent lifting of sanctions against Iran and benefit India, Petroleum Minister Dharmendra Pradhan said Wednesday.

Crude oil prices

10 May 2015

'Govt needs contingency plan to tackle crude price volatility'

Oil prices rupee terms, prices have shot up by 11 percent from Rs 3,789.86 to Rs 4,203.94 per barrel.

28 Apr 2015

Oil giant PetroChina Q1 net profit plunges 82%

Chinese energy giant PetroChina said its net profit plunged 82 percent year-on-year in the first three months of the year, blaming the plunge in international oil prices.

International oil prices

16 Jan 2015

US consumer prices post sharpest monthly fall in 6 years

Falling oil prices pushed US consumer prices into their sharpest monthly drop in six years in December, according to government data released Friday.

19 Dec 2014

Will pass on benefit of dip in world oil prices to consumer: Jaitley

Union Finance Minister Arun Jaitley on Friday asserted that the government will pass on the benefit of dip in international oil prices to the consumer, while he defended imposition of excise duty saying that funds for social spending also has to be raised.

01 Dec 2014

LPG rate cut by Rs 113, jet fuel prices by 4.1%

A 14.2-kg cylinder of non-subsidised LPG will now cost Rs 752, down from Rs 865 previously, in Delhi, oil companies announced on Monday.

12 Nov 2014

Petrol, diesel rates likely to be cut by Re 1

Petrol and diesel prices are likely to be cut by close to Re 1 per litre this weekend on sliding global oil rates.

01 Nov 2014

Jet fuel prices slashed by 7.3%

The price of aviation turbine fuel (ATF), or jet fuel, at Delhi was cut by Rs 4,987.7 per kilolitre, or 7.3 per cent, to Rs 62,537.93 per kl, oil companies announced today.

16 Oct 2014

Cut in diesel prices by Rs 3.56 per litre in offing

A Rs 3.56 per litre cut in diesel prices is in the offing as slump in international oil prices have helped nearly doubling of profit on India's most consumed fuel.

16 Oct 2014

Profit on sale of diesel rises to Rs 3.56 per litre

With international oil prices continuing to slide, the over-recovery or profit on diesel sales, which was Rs 1.90 per litre in the first half of October, climbed to Rs 3.56 per litre.

oil subsidy bill

15 Oct 2014

Govt oil subsidy bill to be cut by over 60% in FY15

With international oil prices dropping to multi-year lows, government's oil subsidy bill is likely to be slashed by over 60 percent in the current fiscal.

01 Oct 2014

Profit on diesel swells to Rs 1.90 a litre

Profit on sale of diesel swelled to Rs 1.90 per litre as oil ministry awaits return of Prime Minister Narendra Modi to cut rates.

01 Oct 2014

Profit on diesel swells to Rs 1.90 a litre

Profit on sale of diesel swelled to Rs 1.90 per litre as oil ministry awaits return of Prime Minister Narendra Modi to cut rates.

Non-subsidised LPG

30 Sep 2014

Non-subsidised LPG cylinder price cut by Rs 21; ATF 3%

Price of non-subsidised cooking gas (LPG) was Tuesday cut by Rs 21 per cylinder and that of jet fuel (ATF) by a steep 3 percent on the back of falling international oil rates.

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