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Tags : "Crude oil"

Oil companies wonder if it’s worth looking for oil anymore

By Laura Hurst A few dots near the bottom corner of the world map in the southern Atlantic, the Falkland Islands were once at the forefront of a new era for the oil industry as companies scoured the planet for resources. Yet a decade after the discovery of as much as 1.7 billion barrels of […]Read More

Divestment Plans: 18 sectors including coal, crude oil, power, telecom

New Delhi: The government has identified 18 strategic sectors for disinvestment purposes, including coal, crude oil, power, steel, telecom, atomic energy and defence, allowing three to four PSUs in each space while gradually moving out of all other sectors. The 18 sectors have been classified into three categories, which are mining and exploration, manufacturing and […]Read More

Crude oil prices slip as US inventories and virus fears

LONDON: Oil prices fell on Wednesday as industry data showed a bigger than expected inventory build in the United States, where a surge in coronavirus cases could further dent fuel demand in the world’s biggest oil consumer. Brent crude fell 39 cents, or 0.9 per cent, to $43.93 a barrel by 0837 GMT. US West […]Read More

Crude oil prices fall below $43 on virus fears, still

SEOUL/LONDON: Oil fell below $43 a barrel on Friday as a resurgence of coronavirus cases raised concern that fuel demand growth could stall, although crude was still headed for a weekly gain on lower supply and wider signs of economic recovery. The United States reported more than 55,000 new coronavirus cases on Thursday, a new […]Read More

Saudi oil cuts take seven supertankers a day off the

By Brian Wingfield Saudi Arabia seems to have made good on its promise to cut oil production by a record amount in June. Observed Saudi crude exports for this month fell to 5.7 million barrels a day through June 29, the lowest since Bloomberg began tracking the flows at the start of 2017. That compares […]Read More

View: Trump’s inaction makes oil market management harder

By Julian Lee The unprecedented OPEC+ deal in April, which led to drastic output cuts, is now entering its most dangerous phase, with oil demand and prices recovering. At the time, President Donald Trump claimed credit for the breakthrough, even though the U.S., the world’s biggest oil producer, wasn’t part of the agreement. Now the […]Read More

Crude oil prices rise on positive news from Covid-19 drug

LONDON: Oil rose on Wednesday on hopes for economic recovery and for a clinical trial showing a cheap steroid could help save some critically ill coronavirus patients but fears of a second wave of the virus curbed gains. Brent crude was up 29 cents, or 0.7 per cent, at $41.25 a barrel at 0825 GMT. […]Read More

UAE confident that Opec+ laggards will meet oil cut commitments

DUBAI: The energy minister of the United Arab Emirates said on Monday he was confident OPEC+ countries with poor compliance to agreed cuts would meet their commitments and said there were signs that oil demand was picking up as some nations eased lockdowns. OPEC, Russia and allies, known as OPEC+, agreed this month to extend […]Read More

Rupee settles 3 paise higher at 75.55 against US dollar

Mumbai: The rupee settled on a muted note, up 3 paise, at 75.55 (provisional) against the US dollar on Monday as dollar-buying by banks as well as importers and rebounding crude prices restricted gains of the local unit. Forex traders said positive domestic equities, sustained foreign fund flows and the revival of business activity are […]Read More

Crude oil prices rise as traders await Opec+ meeting on

LONDON: Oil prices rose on Friday after OPEC decided to move up discussions on whether to extend record production cuts to Saturday, indicating that some laggard countries may have agreed to align themselves with the deal. Brent crude futures were up 95 cents, or 2.4 per cent, at $40.94 a barrel as of 0920 GMT, […]Read More