Evidence is mounting that Saudi Arabia is heeding US President Donald Trump’s call for OPEC to keep the oil market amply supplied and rein in prices.
The world’s biggest oil traders are counting hefty losses after a surprise doubling in the price discount of US light crude to benchmark Brent in just a month, as surging US production upends the market.
Do you use piped natural gas (PNG) or biofuels to cook? Your monthly bill could get cheaper. The government is considering a subsidy for all fuels that “are used for cooking”. At present, liquefied petroleum gas (LPG) users and kerosene users enjoy such a subsidy.
The all-powerful GST Council may this week consider bringing jet fuel (ATF) and natural gas under GST ambit but tax slab is acting as a deterrent, people familiar with the matter said.
The US has nosed ahead of Saudi Arabia and is on pace to surpass Russia to become the world’s biggest oil producer for the first time in more than four decades.
On an upward trajectory since July 5, petrol prices in the financial capital of the country crossed the Rs 84 per litre mark on Friday and was sold at Rs 84.14 a litre.
Rising global oil supply, driven by crude giants Saudi Arabia and Russia, may come under pressure as key producers face disruptions, the International Energy Agency said on Thursday.
Reliance Industries (RIL) on Thursday joined Tata Consultancy Services (TCS) in the $100-billion market capitalisation club.
Shares of airlines and oil marketing companies (OMCs) companies were trading higher by up to 5% on the BSE after the Brent Crude recorded its biggest one-day fall in two years on Wednesday.
Iran will do its best to ensure security of oil supply to India by offering “flexible measures” to boost bilateral trade, a statement from Tehran’s embassy in New Delhi said.