Crude Oil

Oil prices experienced a decline of 2% on Thursday, October 5th, following a nearly 6% drop in the previous session. This decline was driven by growing uncertainty surrounding the demand for oil, which overshadowed a decision by OPEC to…

New Delhi: JPMorgan's head of EMEA energy equity research, Christyan Malek, warned markets that the recent Brent price surge could continue upwards to $150 per barrel by 2026, according to a new research report, Oil Price reported.…

Washington: Union Petroleum and Natural Gas Minister Hardeep Singh Puri has said that India will buy crude oil from whichever country it wanted in regards to questions being raised about purchases from Russia, whose western buyers have…

Paradip: Hundreds of litres of crude oil got wasted as the crude oil pipeline of the Indian Oil Corporation Limited (IOCL) burst near the IOCL Township in Paradip of Odisha's Jagatsinghpur district on Thursday. A portion of the…

New Delhi: Union Minister of Petroleum and Natural Gas, Hardeep Singh Puri, informed the Rajya Sabha on Monday that in the last three financial years, India imported less than 1 per cent crude oil from Russia. Responding to a question…

Crude oil prices in the global market fell by 18 per cent due to United Arab Emirates (UAE) increasing production. With this fall, Brent crude came down to around $114 and the US benchmark WTI (West Texas Intermediate) at $110 a barrel…

Washington: The US Department of Energy will authorize the release of 50 million barrels of oil from the Strategic Petroleum Reserve (SPR) to lower oil prices and address the mismatch between demand exiting the pandemic and supply, the…

New Delhi: India may pursue a case for resumption of oil supplies from sanction-hit Iran and Venezuela once the Joe Biden administration takes charge in the US. Sources in the Oil Ministry said that as a big importer of oil, India wanted…

Guwahati: The state-owned Oil India Ltd (OIL) lost 638 MT of crude oil production from 66 producing wells and 0.46 MMSCMD of natural gas from three gas wells due to blockades by the local people and various students organisations in two…

New Delhi: Crude oil prices continued to gain as the Organization of the Petroleum Exporting Countries (OPEC) and their allies start reducing output starting Friday. The benchmark Brent crude oil is at around $27 per barrel. The June…