Page 9 - Crude Oil

Oil rises as US crude stocks data, tight supply from Russia raise concerns

US crude stocks fall by over 7 million barrels

Centre planning to further cut windfall tax on crude, diesel: Report

The government is expected to review the new taxes, imposed on July 1, for the third time soon,

Never been defensive about stand on buying Russian oil: Jaishankar

The US and other nations in the world may not appreciate India buying Russian oil, but they have accepted it as New Delhi has not been defensive about its stand, EAM said

Jaishankar defends India's crude import from Russia, calls it 'best deal'

EAM S Jaishankar, who is in Thailand, defended India's crude oil imports from Russia by terming it the "best deal" for the country

MCX Crude Oil futures can slide to Rs 5,700-level, chart suggests

Sustained trade below Rs 6,800-level, can trigger a sharp slide in MCX Crude Oil August futures towards the 50-WMA; Meanwhile, bias for Natural Gas is positive.

Saudi sovereign wealth fund buys $7-bn US stocks amid recession fears

The $620 billion Public Investment Fund also added to positions it held in Facebook Inc. owner Meta Platforms Inc., PayPal Holdings Inc. and Electronic Arts Inc. in the second quarter

Indian Oil aims to restart Paradip refinery from mid-Sept: Report

Indian Oil Corp will restart crude processing at its 300,000 barrel per day Paradip refinery in eastern Odisha state from mid-September after a 45-day maintenance turnaround

MCX Crude Oil futures likely to exhibit high volatility in the near term

Sustained trade below Rs 6,940-level, can trigger a sharp slide in MCX Crude Oil August futures; Bias for Natural Gas futures has turned marginally negative.

Iraq discounts heavily to muscle out cheaper Russian oil in India

After a dip in market share, suppliers from the West Asian nation are discounting heavily to muscle out cheaper Russian oil

Where are Brent crude prices headed?

Prices of Brent crude oil are coming down. On Wednesday, OPEC+ decided to hike output by 100,000 barrels per day. Are they headed lower in the days to come? Let us find out

OPEC+ boosts September oil output by slower pace than previous months

The OPEC+ coalition said it will increase output to 100,000 barrels a day next month after raising it by by 648,000 barrels per day in July and August.

OPEC+ to decide September oil output for world amid high inflation

They also will be considering what effects staggering inflation and rising COVID-19 rates may have on global demand for fuel in the fall, with gasoline prices at the pump still high.

BP boosts dividend after Q2 profit hits 14-year high of $8.45 bn

BP boosts dividend by 10%; BP to boost spending on oil and gas, CEO says; profits driven by strong oil trading, hit by LNG

Traffic surge at ports a sign of India's economic revival: Report

Both coal and crude oil grew 16 per cent year-on-year (YoY), accounting for 105 mt and 65 mt of traffic in the first quarter, even on the back of record high prices

Oil, geopolitics, and climate change

Crude oil still commands its place in the fuel market, but investments in oil exploration have gone down as concerns about climate change grow

Limited refining capacity to keep margins high: Reliance Industries

RIL did point to these recessionary fears at its investor call, saying it remained a challenge for oil companies

Continued uncertainty

Govt forced to react to new conditions in petroleum markets

Reliance Industries in focus as benchmark refining margin slips

Stock falls a day after windfall tax cut; crude refiner's results today

Oil stocks surge as govt cuts windfall tax on fuel exports, RIL up 4%

Petrol and diesel prices are down by $40-50 per barrel from month-ago levels

Windfall tax cut to normalise equity multiples of RIL, ONGC: Morgan Stanley

Centre, on Wednesday, eliminated a levy on gasoline exports and cut windfall taxes on other fuels less than three weeks after they were imposed