Oil prices

Oil prices News

Oil prices rise as OPEC output cuts seen deeper than previously expected

Benchmark Brent crude futures were up 1.51 percent at $55.17 per barrel at 0112 GMT, recovering from losses of $2.89 per barrel the session before.

How global oil prices fell, and impact on India

With global brent crude oil prices having fallen significantly over the last six weeks from $86.29 to $63.3 per barrel, Indian petrol and diesel prices have seen some correction while the rupee has strengthened against the dollar.


Oil rises but declines for the week as supply concerns ease

Brent crude rose 88 cents to settle at $75.33 a barrel, a 1.18 percent gain. The global benchmark fell about 2.7 percent for the week.

Oil Minister Dharmendra Pradhan rules out review of daily fuel pricing

Daily revision in petrol and diesel prices, which was introduced in mid-June last year, had come in for criticism after rates were hiked every day last month in step with firming international oil rates.

Crude oil slumps as OPEC, Russia look to raise output amid US surge

To address potential supply shortfalls, Saudi Arabia, de-facto leader of producer cartel OPEC, as well as top producer Russia said on Friday they were discussing raising oil production by some 1 million bpd.

China, United States put trade war 'on hold' as oil prices rise

The US trade war with China is "on hold" after the world's largest economies agreed to drop their tariff threats while they work on a wider trade agreement, US Treasury Secretary Steven Mnuchin said on Sunday.


Oil prices dip on record US crude exports, but OPEC-led supply cuts support

The declines came after the Energy Information Administration (EIA) said late on Wednesday that U.S. crude oil exports jumped to 1.98 million barrels per day (bpd) last week

Oil markets roiled as Hurricane Harvey hits U.S. petroleum industry

"There may be meaningful and long-term damage to Texas' refining capacity," said Jeffrey Halley, analyst at futures brokerage OANDA. About 22 percent, or 379,000 bpd, of Gulf production was idled due to the storm as of Sunday afternoon, according to the U.S. Bureau of Safety and Environmental Enforcement.

Fuel demand grows 5.4 per cent in May; petrol, diesel sales surge

Fuel consumption in May stood at 17.79 million tons as compared to 16.87 million tons in the same month a year back

Oil prices fall for a third day on worries Middle East rift could dent output cuts

Oil prices fell for the third day, hit by concerns that a political rift between Qatar and several Arab states would undermine an OPEC-led push to tighten the market.