13 Dec 16
Lower oil output deal aimed at inventories: Goldman Sachs
03:25 AM
Goldman Sachs said the formal agreement by non-members of the Organisation of the Petroleum Exporting Countries (Opec) oil producers this weekend in Vienna to help curb output was reached with a goal of “normalisation&" of inventories and not
Oil surges as Saudis eye deeper production cuts
03:12 AM
Oil jumped to the highest since July 2015 after Saudi Arabia signalled it’s ready to cut output more than earlier agreed while non-members of the Organisation of Petroleum Exporting Countries (Opec) including Russia pledged to pump less next
12 Dec 16
Oil slump prompts Gulf states to get strict with govt employees
09:52 AM
A worker checks the valve of an oil pipe at an oil fieldAhmed, a Qatari civil servant, used to arrive at his office at a government ministry in Doha late in the morning and leave for home after lunch, collecting a monthly salary of 40,000 rial
Opec, non-Opec blocs sign first oil pact since 2001
02:41 AM
The Organisation of the Petroleum Exporting Countries (Opec) and the non-Opec producers on Saturday reached their first deal since 2001 to curtail oil output jointly and ease a global glut after more than two years of low prices that overstretched many
06 Dec 16
Why OPEC's squeeze on oil prices is getting weaker all the time
10:31 AM
OPEC’s recent decision to cut oil production for the first time in eight years marked the return of the oil cartel’s favourite tactic: squeeze supply in a bid to jack up the price.
Stable oil market vital for India, says Opec
07:34 AM
On a day when the crude prices touched a 16-month-high of $55 a barrel fuelled by the decision to cut production by the Organization of the Petroleum Exporting Countries (Opec), the oil producers body Monday stated that a higher stable oil market, which
Petrotech 2016: PM sets tone for fuel at reasonable price
07:21 AM
Prime Minister Narendra Modi in his inauguration speech at the Petrotech Summit on Monday emphasised the need for reasonably priced energy. "Energy is a key driver of economic growth.
05 Dec 16
Higher oil prices a risk to India's growth trajectory: Dharmendra Pradhan
01:30 PM
With oil cartel OPEC cutting production for the first time since 2008 leading to a surge in oil prices, India today said higher rates will risk the country's growth trajectory and pitched for striking a balance between interests of producers and
Oil tops $55 first time in 16 months as Opec deal fuels buying
07:17 AM
Brent crude oil prices rose above $55 a barrel on Monday, trading at a fresh 16-month high, on rising prospects of a tightening market after Opec members agreed on a landmark deal to cut production last week.
Govt unlikely to implement DBT in kerosene
04:37 AM
Unlike Liquefied Petroleum Gas (LPG), the government may not push for the implementation of Direct Benefit Transfer (DBT) in kerosene as the benefit on the fuel will prove to be a "dying subsidy" thanks to small doses of monthly rate hikes
India to brace for higher bill as crude oil prices rise
04:29 AM
Prices of global crude oil rising suddenly over the past two days have prompted the domestic oil industry to go into a wait-and-watch mode.
02 Dec 16
The rise and fall of oil in popular culture
10:46 AM
Oil’s pipelines now supply energy to every conceivable part of our personal and professional lives. Oil can take us practically anywhere on earth. Its social and cultural significance cannot be overstated since it fuels even our wildest dreams.
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