Page 26 - Oil Prices

OPEC+ crisis deepens as Saudi Arabia refuses to budge, oil edges up

OPEC and its allies on Friday voted to increase production by about 2 million barrels a day from August to December 2021 extend the remaining output cuts to the end of 2022

Oil prices dip after OPEC+ ministers delays meeting on supply decision

Oil prices inched lower on Friday after OPEC+ ministers delayed a meeting on output policy as the United Arab Emirates balked at a plan to add back 2 million barrels per day in second half of year

Oil prices climb with Opec+ signalling more gradual supply hike

Futures in New York rose as much as 3.7 per cent on Thursday to the highest intraday level since 2018

Oil prices drift sideways as investors await OPEC+ decision on supply cuts

Oil prices traded sideways on Thursday as investors waited for a decision from key producers on whether they would maintain or ease supply cuts in the second half of the year

Oil steadies as OPEC fuels demand hopes amid new Covid-19 worries

Brent crude futures settled up 8 cents, or 0.1%, at $74.76 a barrel, having slumped by 2% on Monday

Oil prices 'very challenging', need them to sober a bit: India to Opec

Ahead of a meeting of oil producers' cartel OPEC, India on Tuesday said the current oil prices are "very challenging" and rates need to be a "little bit sober" lest they impact a consumption-led recovery of the global economy. Oil Minister Dharmendra Pradhan, who last week again urged OPEC to phase out its production cuts, said India is a price-sensitive market and it will buy oil wherever it gets competitive rates. The rebound in international oil prices from lows hit last month on the back of demand recovery has led to a spike in petrol and diesel retail prices in India. Fuel rates are at record highs across the country and petrol has crossed Rs 100 a litre mark in about a dozen states and union territories, while diesel is being sold at over Rs 100 a litre in Rajasthan and Odisha. "Today's price is a very challenging one," Pradhan said at BNEF Summit. "I am persuading my producer friends" for a reasonable price of oil. He said he had a very good discussion with OPEC ...

India sees fuel demand recovery to pre-pandemic level by end-2021

Local fuel consumption- a proxy for oil demand - in May slumped to its lowest since last August as lockdowns and restriction in several states stalled mobility and muted economic activity

Oil falls as flare-ups of Covid-19 Delta variant threaten fuel demand

Oil prices slipped for a second day on Tuesday on worries about slower fuel demand growth as outbreaks of the highly contagious Covid-19 variant Delta sparked new mobility restrictions around world

Oil prices fall on rising Covid cases in Asia, Eurupe ahead of Opec+ talks

All eyes will be on the Organization of the Petroleum Exporting Countries and its allies, a group known as OPEC+, to see what happens at their meeting on Thursday.

Oil prices slip after hitting highest since 2018 before OPEC+ talks

Brent was down 20 cents, or 0.3%, to $75.98 a barrel at 1040 GMT

Oil prices strike 2018 highs on demand recovery, Iran nuclear talks

Oil prices climbed to highs last seen in October 2018 on Monday as the United States and Iran wrangled over the revival of a nuclear deal, delaying a surge in Iranian oil exports

Oil prices rise for fifth week to highest since 2018 on strong demand

Brent futures rose 62 cents, or 0.8 per cent, to settle at US$76.18 a barrel, while US West Texas Intermediate (WTI) crude rose 75 cents, or 1.0 per cent, to US$74.05

Global stocks finish at record highs, oil prices climb for fifth week

WASHINGTON/LONDON (Reuters) -Wall Street notched broad gains on Friday, with the S&P 500 index closing at a record and global shares also finished at an all-time high, while oil prices rose for a fifth straight week.

Oil keeps climbing for fifth week on tight supply outlook, eyes on OPEC+

US West Texas Intermediate (WTI) crude futures rose 8 cents, or 0.1%, to $73.38 a barrel at 0216 GMT, headed for a 2.4% gain for the week

Singapore files 105 new charges against oil trader Hin Leong founder OK Lim

Hin Leong, one of Asia's largest oil traders, was wound up in March after failing to restructure some $4 billion in debt following a crash in the oil price during the coronavirus pandemic

Oil climbs as draw in US crude stocks boosts optimism about demand

Oil prices climbed on June 24 after a sharp drawdown in United States crude and gasoline stocks reinforced optimism of a quick recovery in fuel demand

Oil prices jump to more than two-year high as US supplies tighten

Brent crude rose $1.02, or 1.4 per cent, to $75.83 by 8:19 pm IST, having touched its highest since October 2018 at $76.02 after the EIA data

Wall Street rises as Fed chief Powell testifies to panel, oil wavers

Wall Street moved past mixed results in early trading to post solid gains by the afternoon, as investors awaited Powell's testimony to a congressional panel

Diesel tops Rs 100/litre in Odisha, Rajasthan on the back of global cues

Diesel is expensive in these states as they levy the highest rates of Value Added Tax alongside cesses on auto fuels in the country

Oil prices firm on summer demand as Iran nuclear deal revival talks drag

Both benchmarks have risen for the past four weeks on optimism over the pace of global Covid-19 vaccinations