crude oil

crude oil News

Oil prices rise as Saudi Arabia signals OPEC deal extension

Oil prices jumped after Saudi Energy Minister Khalid al-Falih told a conference in St Petersburg, Russia, that $60 a barrel was too low to encourage investment in the industry. Crude later pared gains.

Oil falls on trade dispute despite surprise drop in US crude inventories

China is the world's biggest oil importer. An unexpected drop in US crude inventories kept oil price declines in check.


Explained: Volatility in crude prices this week and its impact on the rupee

It was a volatile week for global crude oil prices, and in turn for the Indian rupee which reacts negatively to a rise in crude oil prices and vice-versa.

Rupee tumbles 22 paise against dollar on crude concerns

However, the dollar's weakness against some currencies overseas and a higher opening of the domestic equity markets capped the rupee's losses, a forex dealer said. Fresh dollar demand from banks and importers weighed on the Indian currency, they added.

Explained: Life without Iranian oil

How has India been preparing for the tightening of US sanctions? What key metrics could be impacted? What are the main concerns, and what role are the ongoing elections likely to play in India’s response?

Crude oil set for biggest quarterly price rise since 2009 amid OPEC cuts, sanctions

"While OPEC, and above all Saudi Arabia, appeared in November to be obeying US President Trump's repeated demands to increase oil production, his tweets now are more likely to fall on deaf ears," Commerzbank said in a note.


Saudi Aramco to buy SABIC for $69 billion in one of the biggest deals in global chemical industry

The deal could inject billions of dollars into the PIF, giving it the firepower to proceed with its plans to create jobs and diversify the largest Arab economy beyond oil exports, including a mega business zone in the northwest of the country.

China grants first crude import license to private trading firm

Zhejiang Wuchan Zhongda, a venture between government fund Zhousan Communications Investment Group and Wuchang Zhongda Group, is the first privately owned trading company to receive a crude import license from the ministry.

Ghana's first oil exploration licensing round attracts global majors

The interest is a major vote of confidence in Ghana, which is keen to unlock more resources after it began pumping from its flagship offshore Jubilee field in 2010.

Oil edges higher after Russia indicates larger output cut

A Russian Energy Ministry source said Moscow was ready to contribute a cut of around 200,000 bpd, which is more than the 150,000 bpd sources previously said it would contribute.

crude oil Videos

Fuel prices at an all-time high: News in Numbers

How the government is explaining the rise in petrol and diesel prices. Take a look in today’s News in Numbers.