New Delhi: As crude oil rates remained bearish, petrol and diesel prices continued to slid further today by 12 paise and 13 paise, respectively. While petrol is at its lowest since September, diesel prices are at their lowest since the first week of September.
London: Opec warned on Tuesday that an oil supply glut could emerge in 2019 as the world economy slows and supply from rival producers rises more quickly than expected, building a case for a policy U-turn to cutting output at a meeting next month.
New York: Dow Jones Industrial Average and S&P 500 ended slightly lower on Tuesday following losses in energy shares and Boeing Co., offsetting a small gain in technology stocks and renewed hopes for progress in trade talks. The Nasdaq ended the session essentially flat as a rebound in tech kept the index out of negative…
Oil’s unprecedented decline deepened as investors fled a market hammered by swelling excess supplies and a darkening demand outlook.
New Delhi: On the back of falling crude oil prices, state-run oil marketing companies slashed the prices of petrol and diesel by 17 paise and 15 paise, respectively. This is the fourth straight week when fuel prices have been cut. A litre of petrol now costs Rs 77.56 in Delhi, Rs 83.07 in Mumbai, Rs…
Abu Dhabi: Saudi energy minister Khalid al-Falih said on Monday OPEC and its allies agree that technical analysis shows a need to cut oil supply next year by around 1 million barrels per day (bpd) from October levels to balance the market.
Abu Dhabi: India is in talks with Saudi Arabia to store its oil in storage facilities in Padur, south India, said the country’s petroleum minister on Monday.
Abu Dhabi: Saudi Aramco Chief Executive Officer Amin Nasser said the initial public offering of the state-oil producer will “certainly” happen when the conditions are right.
Typical. You go to the trouble of organizing a big gettogether in Abu Dhabi to help shore up oil prices, complete with press conferences and the usual nod-and-a-wink guidance. And what happens? President Donald Trump rebuts it with a tweet.
US President Donald Trump criticized Saudi Arabia’s announced plan to cut oil production on Monday, as tensions rose between the US and its long-time Middle East ally. “Hopefully, Saudi Arabia and Opec will not be cutting oil production. Oil prices should be much lower based on supply!” Trump said in a tweet.