Page 4 - Oil
Top headlines: Plan for 75 digital banks, IPL broadcast rights, and more
Business Standard brings you the top headlines on Wednesday
 "Top headlines: Plan for 75 digital banks, IPL broadcast rights, and more")
Oil prices rise over 2% despite big US crude stock build
Brent crude was up $2.72, or 2.6%, to $107.36 a barrel by 12:52 p.m. (1652 GMT) U.S. West Texas Intermediate (WTI) crude futures gained $2.39, or 2.4%, to $102.99
 "Oil prices rise over 2% despite big US crude stock build")
Oil slides on worries about lockdowns in China, release of reserves
Brent crude was down $2.32, or 2.3%, at $100.46 a barrel by 0427 GMT, while U.S. West Texas Intermediate crude lost $2.37, or 2.4%, to $95.89.
 "Oil slides on worries about lockdowns in China, release of reserves")
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 prices slipped in early Asian trading; Brent Crude falls to $102.40")
Indian Oil to invest Rs 840 crore to set up plant, raise storage capacity
Indian Oil Corporation on Sunday said it will invest nearly Rs 840 crore in expanding its Petroleum, Oil and Lubricant storage capacities, including setting up a greenfield facility, in the Northeast
 "Indian Oil to invest Rs 840 crore to set up plant, raise storage capacity")
India buys Russian sunoil at record high price as Ukraine supplies halt
Refiners bought crude sunflower oil at a record price of $2,150 a tonne, including cost, insurance and freight, in India for April shipments, compared with $1,630 before Russia invaded Ukraine
 "India buys Russian sunoil at record high price as Ukraine supplies halt")
India buying discounted Russian oil wouldn't be violating US sanctions: WH
However, support for the Russian leadership is support for an invasion that obviously is having a devastating impact, White House Press Secretary Jen Psaki told reporters
 "India buying discounted Russian oil wouldn't be violating US sanctions: WH")
Iran ready to supply required oil for world market, says official
Mohsen Khojasteh Mehr, head of the National Iranian Oil Company (NIOC), has said that his country is ready to supply the required oil for the world market and stabilise prices.
 "Iran ready to supply required oil for world market, says official")
Here's how surging oil prices shift the economic outlook in Asia
As a net importer of energy, Asia is vulnerable to the oil price spike triggered by Russia's invasion of Ukraine
Global shares slide, oil rises as Russian oil ban looms
Since Russia invaded Ukraine on February 24, Western sanctions have cut Russia off from international trade and financial markets.
 "Global shares slide, oil rises as Russian oil ban looms")
Biden announces release of 30 mn barrels oil to control global oil prices
Biden announced that his council has worked with 30 other countries to release millions of barrels of oil from American strategic reserves to maintain the global oil prices during Russia Ukraine war
OPEC+ trims 2022 oil market surplus forecast in latest data: Report
OPEC+ revised down its forecast for an oil market surplus this year by about 200,000 barrels per day to 1.1 million bpd, according to a base scenario in a technical committee report seen by Reuters
Top headlines: Ukraine president pleads for peace, oil shock may sting
Mutual funds are keeping their powder dry to invest in LIC's IPO that is expected to hit the market next month
 "Top headlines: Ukraine president pleads for peace, oil shock may sting")
World's most-important oil price tops $100, signals more to come
It also shows that the rally in futures prices - they passed $96 at one point on Wednesday - is in part being driven by what's happening in the real world
 "World's most-important oil price tops $100, signals more to come")
A plunge into a unique world of divers maintaining oil rigs and pipelines
Where would you least expect a Punjabi or a Haryanvi or a Rajasthani lad? And making big bucks, too? Read on to find out
 "A plunge into a unique world of divers maintaining oil rigs and pipelines")
OPEC sees upside to 2022 oil demand forecast on strong pandemic recovery
OPEC leaves 2022 oil demand growth forecast steady, keeps Q3 demand forecast at 100 mln bpd
 "OPEC sees upside to 2022 oil demand forecast on strong pandemic recovery")
Costlier oil and subsidy fall likely to hit consumption in FY23
A cut in subsidy in FY23 comes on the back of an equally sharp cut in FY22
 "Costlier oil and subsidy fall likely to hit consumption in FY23")
Oil little changed despite talk of possible OPEC+ supply boost
The Organization of the Petroleum Exporting Countries and allies, together known as OPEC+, has been expected to decide at a monthly meeting on Wednesday to keep gradually increasing production
 "Oil little changed despite talk of possible OPEC+ supply boost")
Uganda, investors commit $10 billion to pump nation's oil deposits
Uganda and a group of investors announced their decision to finally proceed with oil production following years of setbacks
 "Uganda, investors commit $10 billion to pump nation's oil deposits")
Conflicting trends for energy stocks: State polls only add to uncertainty
Petrochemicals producers may have seen declines in bottom lines
 "Conflicting trends for energy stocks: State polls only add to uncertainty")
