Page 37 - Crude Oil

Oil hits two-month high on tighter US market, Venezuela sanctions risk

Brent crude futures were at $52.85 per barrel, up 33 cents or 0.6 percent

India's crude oil demand to grow by 5% per year till 2020: Study

The report comes at a time when the country is trying to cut its oil import by 10%

Crude oil futures up 0.75% on positive global cues

Crude oil rose to Rs 3,227 per barrel in futures market as speculators created fresh bets

Here's why India decided to cut Iranian oil purchases in row over gas field

India prefer the risk in buying of crude from spot markets than stick to long term contracts

Crude oil price rises on weak dollar

Traders said Brent rebounded from testing a $50 a barrel support on Monday

Indian basket of crude oils goes below $50 a barrel

Analysts said the rising output also weighed on the production reduction by the OPEC and its allies

Russia overtakes Saudi Arabia in 2016 as China's biggest crude oil supplier

Russian shipments surged nearly a quarter over 2015 to about 1.05 million barrels per day (bpd), the data showed

ONGC, Cairn India demand lowering of cess on crude

Producers are demanding cutting cess to 8% of the realised price of crude oil in the domestic market

Oil at17-month high

The market is now shifting focus to the group's compliance toward the targeted reductions

Oil prices edge down ahead of Opec, non-Opec production cuts

Brent sheds 7 cents or 0.12%, at $56.02 a barrel, WTI crude down 8 cents or 0.14% at $53.82

US crude futures extend gains on production cut deal

US West Texas Intermediate crude futures were at $51.10 per barrel by 0037 GMT, up 5 cents from their last settlement

ONCG, Cairn India stand to benefit from Opec move

Higher crude oil prices expected to boost realisations and earnings

Oil Ministry gives 4th extension to panel on fuel economy norms

Diesel is the most consumed fuel in the country, accounting for over 43% of all fuel consumption

US crude oil exports hit record high in September

Canada took in the most exports at 243,000 bpd, followed by Singapore at 99,000 bpd

Oil Apartheid: Manmohan Singh had rebuked Deora for raising it

The term refers to Arab oil producers' practice of charging Asian customers up to $6 a barrel more than what they billed US or European refiners

Impact of higher crude oil prices

Imagine you're a manufacturer and have no control over the price of one vital raw material. In successive years, the price per unit of that item is $70, $85, $112, $108, $105, $84, $46 and $43. It would be reasonable to assume that profits will rise as the prices fall.That price series represents the average price per barrel of the Indian crude basket in every financial year starting from 2009-10. The latest price of $43/ barrel is the average between April and August 2016. Since India imports 80 per cent of its crude, the impact of lower prices is hugely positive. India also exports refined petroleum products and the refining margin rises when the price of crude is low. So, it's win-win, since exports also benefit from lower crude prices.The net petro-import bill (after accounting for product exports) dropped from a peak of $98 bn in 2012-13, to $47 bn in 2015-16. The net import bill for April-August 2016 is $19.6 bn. The current account deficit peaked at 4.8 per cent of GDP in ...

Oil hits one-year high as Russia ready to cap output

Vladimir Putin said an output freeze or even a production cut were likely the only right decisions to maintain energy sector stability

Oil hits highest since June on possible US inventory drop

API said on Tuesday that US crude inventories dropped 7.6 million barrels, which would be the fifth straight weekly decline

Crude oil up 0.44% on positive Asian cues

Oil for delivery in far-month November gained Rs 10, or 0.33%

Global oil surplus to persist into first half of 2017: IEA

The IEA had previously expected the market to show no surplus in the second half of this year