Oil Price Falls

Oil prices fall in early trade but remain buoyed by China outlook

Brent crude futures retreated by 46 cents, or 0.5%, to $87.17 at 0031 GMT, while U.S. West Texas Intermediate (WTI) crude futures fell 40 cents, also down 0.5%, to $81.24 a barrel

Oil prices fall as China slowdown spurs concern over demand outlook

Weekend data indicated a surprise contraction in Chinese factory activity, highlighting the cost of Beijing's preference for mobility curbs to tackle Covid-19

Oil dips on China's new lockdown measures but stays near three-month highs

Oil prices took a fall following Shanghai's new lockdown restrictions imposed recently. However, it maintained the nearly three-month high streak, say market reports

Oil prices slipped in early Asian trading; Brent Crude falls to $102.40

Oil prices slipped in early Asian trading, following the second straight weekly decline after world consumers announced plans to release crude from strategic stocks and as Chinese lockdowns continued

Oil tumbles 4% on concerns over Europe restrictions, vaccine rollouts

Extended lockdowns are being driven by the threat of a third wave, with a new variant of the coronavirus on the continent.

Oil slips as Covid-19 may force Russia to support extending output cuts

Brent crude rose 6 cents, or 0.1%, to $42.52 a barrel by 0810 GMT having risen 1.7% on Thursday. U.S. crude fell 7 cents, or 0.2%, to $40.57

ONGC June quarter profit dives 92% as oil, gas price slump to decade low

State-owned Oil and Natural Gas Corp (ONGC) on Tuesday reported 92 per cent slump in its June quarter net profit after oil prices halved and gas rates fell to a decade low. Standalone net profit of Rs 496 crore in April-June was 91.7 per cent lower than Rs 5,980 crore net profit a year back, the company said in a statement. The surprise profit came after the company delayed payment of cess on crude oil it produces. Initially, the company did not pay even royalty in anticipation of relief from the government to deal with a slump in oil prices. It cleared royalty payments at June-end but cess payments were done only in July. ONGC pays about Rs 400 crore of royalty and cess every quarter to the government. Revenues dipped 51 per cent to Rs 13,011 crore after a nationwide coronavirus lockdown impacted fuel demand. ONGC said it got USD 28.72 for every barrel of crude oil it sold in the quarter, down from USD 66.32 a barrel in the same period a year back. Gas price realisation fell 35

OPEC+ to discuss output cut on Saturday as oil dips over uncertainty

Brent crude futures were down 8 cents, or 0.2%, at $39.91 a barrel as of 0106 GMT and US WTI crude futures fell 15 cents, or 0.4%, to $37.26 a barrel

Sellers beware: Price collapse triggers bartering over oil and gas deals

Premier Oil's CEO said he is seeking a cheaper price for North Sea assets it agreed to buy from BP for $625 million and Energean is doing the same with a $700 million purchase from Edison

Price crash brings no relief as oil firms keep fuel prices unchanged

The auto fuels today maintain almost the same price levels at pumps that was existing on March 14, when government raised the excise duty on petrol and diesel by Rs 3 per litre

Explained: What is negative crude future and how does it affect consumers?

The price of a barrel of crude varies based on factors such as supply, demand and quality. Supply of fuel has been far above demand since the coronavirus forced billions of people to stop traveling

Excise duty hike on petrol, diesel to add Rs 43,000 cr to govt revenue

Additional revenue will help govt meet its FY21 target of bringing down the fiscal deficit to 3.5% of GDP

Oil prices may have sunk but the energy market fallout has only just begun

The main beneficiaries are likely to be the main consuming countries such as India and China, but even there oil companies will be affected.

Oil price plunges over record US crude production and other factors

Brent crude futures fell 21 cents to $71.86 a barrel by 1249 GMT, having touched a session high of $73.08, while US crude futures fell 8 cents to $61.59

Oil prices plummet for 4th consecutive week over weak equity markets

Brent crude futures were down 79 cents at $74.25 a barrel by 1043 GMT, while US futures fell 53 cents to $64.78 a barrel

Oil sinks amid fears that slowing global economic growth could hit demand

Data on Wednesday showing a large build in US inventories fostered fears about the outlook for fuel demand

Oil falls on doubts over output cuts, surprise rise in US fuel stock

Brent crude futures, the international benchmark for oil prices, were at $63.27 a barrel, down 34 cents, or 0.5%

Oil slips as banks cut price forecast till 2018

Brent crude was down 50 cents at $46.38 a barrel and US crude was 50 cents lower at $43.90