(Reuters) -Oil prices fell over $2 a barrel on Wednesday before recouping some losses, under pressure from global central bank efforts to limit inflation and ahead of an expected buildup in U.S. crude inventories as fuel demand weakens.
The Russian invasion has exacerbated a tightening of energy markets, upending trade flows and forcing buyers to scour the world for alternative fuel supplies
quasi-administered price regime and the imposition of Universal Service Obligations is complicating their business plans
Pakistan announced a six-day work week soon after Sharif took over as the new prime minister in April
The new issue will bring the total of refined fuel export quotas this year to 17.5 million tonnes, still significantly lower than the 29.5 million tonnes allotted under the first issue of 2021
Brent crude futures rose 21 cents, or 0.2%, to $113.37 a barrel at 0020 GMT, while U.S. West Texas Intermediate (WTI) crude futures slipped 2 cents to $108.19 a barrel
As the economy continued to rebound from the deep impact of the third wave of the COVID-19 pandemic, demand for transport fuel rose in March
Sri Lanka ordered its military to post soldiers at hundreds of gas stations on Tuesday, to help distribute fuel after a sudden rise in prices of key commodities
India's crude imports rose in February to 4.86 million (bpd), their highest since December 2020, preliminary data from trade sources showed, as refiners cranked up runs to meet increasing demand
Local demand for gasoline, used mainly in passenger vehicles, is expected to rise by 7.8%, while gasoil consumption was slated grow by about 4%
Fuel consumption in the world's third biggest oil consumer, a proxy for oil demand, totalled 17.61 million tonnes, down 3.7% from December
Demand for all fuels rose 5 per cent in the April-December period to 148 mt from a year earlier, according to the oil ministry
India's fuel demand will continue to recover through the current quarter as the easing of Covid-19 pandemic-related restrictions boosts economic activity, Fitch Ratings said on Monday
Brent crude futures ended up 80 cents, or 1%, to $80.80 a barrel. U.S. West Texas Intermediate (WTI) crude futures closed up 86 cents, or 1.1%, to $77.85.
NEW YORK (Reuters) - Oil prices slumped on Monday as surging 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.
The oil and gas rig count, an early indicator of future output, rose by three to 579 in the week to December 17, representing its highest since April 2020
Gasoil sales by the country's state fuel retailers were 2.87 million tonnes during Dec. 1-15, the data compiled by state-owned refiners showed
Fuel demand rose in October to a seven-month peak, while gasoline sales surged to an all-time high, as festivals boosted mobility and economic activity
U.S. West Texas Intermediate (WTI) crude futures rose $1.38, or 2.1%, to $67.88 a barrel, adding to a 1.4% gain on Thursday.
Indian Oil Corp (IOC), the nation's largest oil firm, expects refinery run to reach 100 per cent within a quarter as fuel demand returns, its chairman SM Vaidya said. Speaking at India Energy Forum by CERAWeek, he said petrol and cooking gas LPG demand is already above pe-COVID levels and diesel - the most consumed fuel in the country - is inching back to normalcy. "Energy demand is rebounding in India with the revival of economic activity" after a devastating pandemic, he said. India's energy demand had halved after a nationwide lockdown was imposed in late March last year. But with gradual easing of restrictions, economic activity has rebounded. Vaidya said the robust energy demand in India is only set to grow in the future. "LPG and petrol have already exceeded pre COVID levels, and we expect refinery capacity to reach 100 per cent by the next quarter," he said. IOC's refineries operated at 82 per cent of capacity in September and are above 90 per cent this month. He said IOC