Wednesday, October 20, 2021
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OPEC

Crude to be around $60 a barrel in 2021

The expectation for the crude was that it may surge in 2021 on the back of economies recovering as vaccinations tamed the spread of Covid-19.

Fuel prices unchanged for 3 weeks

Crude has now slipped 6 per cent in last six days and is now sitting a tab lower around $64.5 a barrel on the back of rising US inventory.

Saudi asks India to use cheap oil it bought last year to cool prices

Saudi energy minister Prince Abdulaziz bin Salman at a press conference after the OPEC+ decision on Thursday said New Delhi should take some of the crude out of storage that they had purchased at very cheap rates last year.

New Year OPEC+ meeting to decide production levels

The OPEC+ ministerial meeting comes after oil consumption tanked in 2020 due to the Covid-19 pandemic and a price war between Saudi Arabia and Russia.

Petrol price at 2-year high of Rs 83 per litre, diesel at 73.32

This is the highest rate for petrol and diesel since September 2018 and followed the 13th increase in rates since November 20.

OIL back in black on lower taxes

Net profit in January-March at Rs 925.64 crore compares with a loss of Rs 208.54 crore in the same period a year back, the company said in a statement.

US crude falls below $15 a barrel as virus throttles demand

Oil markets have plunged in recent weeks as lockdowns and travel restrictions to fight the coronavirus around the world batter demand for the commodity.

Rupee cuts losses to end flat at 76.27 as dollar weakens

At the interbank foreign exchange market, the local currency opened at 76.32, but witnessed heavy volatility and touched a low of 76.45 against the American currency.

G20 energy ministers scramble to finalise oil output deal

Mexico was the lone holdout in an OPEC-led agreement reached after marathon overnight talks that would see output slashed by 10 million barrels per day in May and June.

World faces new ‘Great Depression’ as virus toll mounts

In Italy, the country's youngest COVID-19 patient, a two-month-old baby girl, was reportedly released from hospital, a moment of hope in a country with 17,669 dead.

Oil prices fall sharply as doubts grow over output cut deal

Prices had bounced back from 18-year lows last week after US President Donald Trump said that Riyadh and Moscow would draw a line under their dispute and agree to major output cuts.

Big oil meltdown

Self-perpetuating strategies of the world's three largest oil producers mean a glut and price wars

Saudi Arabia to invest USD 100 billion in India

The envoy said investing in India's value chain from oil supply, marketing, refining to petrochemicals and lubricants is a key part of Aramco's global downstream strategy.

Saudi assures India of no oil supply shortage: Oil Minister Pradhan

A massive drone strike on the world's largest crude-processing facility operated by Saudi Arabia's Aramco has driven oil prices to their highest level in nearly four months.

Crude oil futures gain 1.06 pc on global cues

Crude oil prices rose 1.06 per cent to Rs 3,895 per barrel in futures market Monday as speculators widened positions amid firm global cues.

Turbulence ahead for economy

The next government will have to overcome significant challenges to infuse stability and stronger growth

Sensex cracks over 300 pts, Nifty drops below 10,700     

Global investor sentiment was weak as the chances of peaceful trade negotiations between the US and China dimmed on news that Huawei chief financial officer Meng Wanzhou

Saudi tying itself in knots

The CIA’s conclusion that the gruesome murder of dissident journalist Jamal Khashoggi was at the explicit order of the Saudi crown prince is bound...

Curbing inflation a collective task

While RBI sends policy signals that warrant course correction, actual outcomes depend on follow-up action of its interdependencies

Iran’s president warns over US push against buying Iran oil

After the US pulled out of the nuclear deal with Iran, Washington has been pushing allies to cut oil imports from Iran altogether by November.

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