Oil Price Slump
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Oil Slumps $3/bbl On Gasoline Stockpiles, Rate Hikes And Resuming Supply
Oil prices fell more than $3 a barrel on higher U.S. gasoline stockpiles and after a European Central Bank (ECB) rate hike stoked demand worries, while returning oil supply from Libya and the resumption of Russia's gas flows to Europe eased supply restraints.
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Oil Prices Slump As Investors Fear Fed Rate Hikes Will Hurt Demand
Investors have been paring positions in risky assets as they assess whether inflation-fighting central banks could push the world economy into recession with higher interest rates.
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Oil Slumps 6% To Four-Week Low On Recession Worries, Strong Dollar
Oil prices tumbled about 6% to a four-week low on Friday on worries that interest rate hikes by major central banks could slow the global economy and cut demand for energy.
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Oil prices slump as investors fear Fed rate hikes will hurt demand
Brent crude futures settled at $110.05 a barrel, falling $1.69, or 1.5%. U.S. West Texas Intermediate (WTI) crude futures settled at $104.27 a barrel, down $1.92, or 1.8%.
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OPEC Share Of India's Oil Imports Steadies After Six-Year Slump
Russian oil continued to account for less than 1% of India's crude imports in 2021/22.
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Oil Slumps To Three-Week Low After Fed Minutes, Big IEA Reserve Release Announcement
Oil futures fell sharply on Wednesday after large consuming nations said they would release oil from reserves to counter tightening supply and hawkish minutes from the U.S. central bank that bolstered the dollar.
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India's IOC Buys First Russian Urals Crude In 2 Years After Prices Slump
Indian Oil Corp, the country's top refiner, has bought Russian Urals crude for the first time in two years, after spot differentials slumped, according to trade sources and Refinitiv data.
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Oil Prices Plunge As Omicron's Rapid Spread Dims Fuel Demand Outlook
Oil prices slumped after cases of the Omicron coronavirus variant in Europe and the United States stoked investor worries that new restrictions to combat its spread could dent fuel demand.
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Oil Rebounds On Speculation OPEC+ May Pause Output Increase
Oil prices rebounded on Monday as investors looked for bargains after Friday's slump and on speculation that OPEC+ may pause an output increase in response to the spread of Omicron, but the mood remained cautious with little known about the new variant.
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India's Crude Imports Fall To Lowest In Over A Decade In July
Crude oil imports from July 2020 slumped about 36.4 per cent from a year earlier to 12.34 million tonnes, or 2.92 million barrels per day, data from the Petroleum Planning and Analysis Cell (PPAC) of the Ministry of Petroleum & Natural Gas showed.
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8 Lakh Indians May Have To Leave As Kuwait Approves A Draft Expat Quota Bill: Report
A total of 8 lakh Indians may be forced to leave Kuwait as its National Assembly committee has approved a draft expat quota bill seeking to reduce the number of foreign workers in the Gulf country.
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Saudis Stock Up, Brace For Tripled VAT In Kingdom's Austerity Push
Saudis braced Wednesday for a tripling in value-added tax, another unpopular austerity measure after the twin shocks of coronavirus and an oil price slump triggered the kingdom's worst economic decline in decades.
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Kuwait Doesn't Want To Be An Expat-Majority Nation Anymore
Kuwait's Prime Minister has said the country's expatriate population should be more than halved to 30% of the total, as the coronavirus pandemic and a slump in oil prices send shudders through Gulf economies.
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Excise Duty Hiked On Petrol By Rs. 10 Per Litre, Diesel By Rs. 13
The Indian government on Tuesday raised the excise duty on the petrol and diesel to reap the extra revenue by not passing on gains from a slump for oil prices in the international market. According to the report from PTI, the government increased the excise duty on petrol by a record Rs. 10 per litre and Rs. 13 per litre on diesel. As per the indus...
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Excise Duty On Petrol Hiked By Rs 10 Per Litre, Diesel By Rs 13; Retail Prices Unchanged
The government on Tuesday evening hiked excise duty by a record Rs 10 per litre on petrol and Rs 13 per litre on diesel to garner Rs 1.6 lakh crore additional revenue as it repeated its time-tested formula of not passing on gains arising from a slump in international oil prices.
-
Oil Slumps $3/bbl On Gasoline Stockpiles, Rate Hikes And Resuming Supply
Oil prices fell more than $3 a barrel on higher U.S. gasoline stockpiles and after a European Central Bank (ECB) rate hike stoked demand worries, while returning oil supply from Libya and the resumption of Russia's gas flows to Europe eased supply restraints.
-
Oil Prices Slump As Investors Fear Fed Rate Hikes Will Hurt Demand
Investors have been paring positions in risky assets as they assess whether inflation-fighting central banks could push the world economy into recession with higher interest rates.
-
Oil Slumps 6% To Four-Week Low On Recession Worries, Strong Dollar
Oil prices tumbled about 6% to a four-week low on Friday on worries that interest rate hikes by major central banks could slow the global economy and cut demand for energy.
-
Oil prices slump as investors fear Fed rate hikes will hurt demand
Brent crude futures settled at $110.05 a barrel, falling $1.69, or 1.5%. U.S. West Texas Intermediate (WTI) crude futures settled at $104.27 a barrel, down $1.92, or 1.8%.
-
OPEC Share Of India's Oil Imports Steadies After Six-Year Slump
Russian oil continued to account for less than 1% of India's crude imports in 2021/22.
-
Oil Slumps To Three-Week Low After Fed Minutes, Big IEA Reserve Release Announcement
Oil futures fell sharply on Wednesday after large consuming nations said they would release oil from reserves to counter tightening supply and hawkish minutes from the U.S. central bank that bolstered the dollar.
-
India's IOC Buys First Russian Urals Crude In 2 Years After Prices Slump
Indian Oil Corp, the country's top refiner, has bought Russian Urals crude for the first time in two years, after spot differentials slumped, according to trade sources and Refinitiv data.
-
Oil Prices Plunge As Omicron's Rapid Spread Dims Fuel Demand Outlook
Oil prices slumped after cases of the Omicron coronavirus variant in Europe and the United States stoked investor worries that new restrictions to combat its spread could dent fuel demand.
-
Oil Rebounds On Speculation OPEC+ May Pause Output Increase
Oil prices rebounded on Monday as investors looked for bargains after Friday's slump and on speculation that OPEC+ may pause an output increase in response to the spread of Omicron, but the mood remained cautious with little known about the new variant.
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India's Crude Imports Fall To Lowest In Over A Decade In July
Crude oil imports from July 2020 slumped about 36.4 per cent from a year earlier to 12.34 million tonnes, or 2.92 million barrels per day, data from the Petroleum Planning and Analysis Cell (PPAC) of the Ministry of Petroleum & Natural Gas showed.
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8 Lakh Indians May Have To Leave As Kuwait Approves A Draft Expat Quota Bill: Report
A total of 8 lakh Indians may be forced to leave Kuwait as its National Assembly committee has approved a draft expat quota bill seeking to reduce the number of foreign workers in the Gulf country.
-
Saudis Stock Up, Brace For Tripled VAT In Kingdom's Austerity Push
Saudis braced Wednesday for a tripling in value-added tax, another unpopular austerity measure after the twin shocks of coronavirus and an oil price slump triggered the kingdom's worst economic decline in decades.
-
Kuwait Doesn't Want To Be An Expat-Majority Nation Anymore
Kuwait's Prime Minister has said the country's expatriate population should be more than halved to 30% of the total, as the coronavirus pandemic and a slump in oil prices send shudders through Gulf economies.
-
Excise Duty Hiked On Petrol By Rs. 10 Per Litre, Diesel By Rs. 13
The Indian government on Tuesday raised the excise duty on the petrol and diesel to reap the extra revenue by not passing on gains from a slump for oil prices in the international market. According to the report from PTI, the government increased the excise duty on petrol by a record Rs. 10 per litre and Rs. 13 per litre on diesel. As per the indus...
-
Excise Duty On Petrol Hiked By Rs 10 Per Litre, Diesel By Rs 13; Retail Prices Unchanged
The government on Tuesday evening hiked excise duty by a record Rs 10 per litre on petrol and Rs 13 per litre on diesel to garner Rs 1.6 lakh crore additional revenue as it repeated its time-tested formula of not passing on gains arising from a slump in international oil prices.
