Page 8 - Oil

Oil rises over 4% on hopes of OPEC cut and stimulus amid virus gloom

Brent crude futures gained $2.23, or 4.5 per cent, to settle at $51.90 a barrel. The session low of $48.40 was its lowest since July 2017

Jet fuel prices cut by steep 10% as oil slumps over coronavirus outbreak

The rate of non-subsidised LPG was also reduced to Rs 805.50 per 14.2-kg cylinder from Rs 858.50 previously

Oil prices sink to lowest in over a year, biggest weekly drop since 2016

For the week, Brent lost almost 14 per cent, its biggest weekly percentage decline since January 2016, while WTI fell over 16% in its biggest weekly percentage drop since December 2008

RIL, Nayara Energy plan to wind down Venezuelan oil buys in April

India accounted for about a third of Venezuela's oil shipments in January

Coronavirus overshadows China stimulus and weighs on oil recovery

The rate of infections has declined in Hubei, the epicenter of the outbreak, but investor anxiety has crept back in as the virus spreads globally

Coronavirus: Govt announces relief for contractors; oil rallies for 7th day

The announcement came a day after FM held talks with industry leaders on coronavirus-related issues

Coronavirus outbreak will hit oil hard, but the consensus ends here

It is no surprise that the IEA, representing the major oil consuming nations, sees the biggest impact on demand

Oil rises for second day as investors take stock of hit from coronavirus

Brent crude rose 33 cents, or 0.6%, to $59.84 a barrel by 0103 GMT, while US crude was up 31 cents, or 0.6%, at $53.79 a barrel.

BPCL likely to sell stake in Numaligarh Refinery through bidding

While OIL holds 26 per cent in NRL, BPCL and the Assam government have 61.65 per cent and 12.35 per cent equity, respectively

Qassem Soleimani killing: Will oil become a weapon of choice for Iran?

Oil prices have been on an upward trajectory since early October and the killing of Soleimani boosted them to their highest level since April

Oil slips despite being on track for monthly, annual gains on US-China deal

On Tuesday, trade volumes remained low as many market participants were away for year-end holidays.

Oil regulator ropes in ICF to carry out gas demand, infra assessment

India is targeting 15 per cent share of natural gas in the energy basket by 2030

Oil prices up 4% over likely extension of production curbs by OPEC

Some in the market remained skeptical of whether OPEC+ will deepen cuts, though many analysts expect an extension of the existing supply pact

Oil slumps 2.5% on oversupply fears, US-China trade talk concerns

OPEC and its allies will consider whether to deepen cuts to crude supply when they next meet in December

Oil prices fall almost 2% on uncertainty over US-China trade talks

Brent crude futures settled at $62.44 a barrel, down 86 cents, or 1.4 per cent

Opec expects oil demand to fall in 2020, may maintain supply curbs

OPEC and its partners have been limiting supply since 2017

Electric vehicles' rise may lead to slow global oil demand from 2025: IEA

The IEA expects there will be 330 million electric cars on the road by 2040

India eyes more levies on refined palm oil imports to push local processing

Such a move by India could reduce refined palm shipments from top producers Indonesia and Malaysia

How move to allow new players in fuel marketing can be made more effective

The govt has taken a major step towards liberalising its policy on petroleum retail; now, refinery pricing needs to be made more transparent

Andhra villagers wary of flames from oil rig, want closure of ONGC plant

Fearful of the flames that have been rising from the oil rig, anxious villagers say they are afraid that it might catch fire and pose a threat to their lives