Oil fell the most in a week amid reports of swelling crude stockpiles and disappointing economic activity in the U.S.
Category: Oil & Gas
Gulf crisis brewing: Cash-strapped Oman may be next blowout after Bahrain
Bond investors rattled by Bahrain’s fiscal woes last year are bracing for the next potential crisis in the Gulf region: Oman.
Oil prices nudges higher as OPEC reduces output
U.S. oil prices edged higher on Friday, recovering from losses of nearly 1 percent in the previous session, as data showed major exporters are quickly reducing output in line with a supply cutting pact. U.S. West Texas Intermediate (WTI) futures were at $53.96 per barrel at 0009 GMT, up 17 cents, or 0.3 percent, from […]
Oil extends gains into third session amid tighter US supply
U.S. oil prices edged up on Thursday to extend gains into a third session, with widely watched data showing signs of tightening supply in the United States.
IOC stung by falling crude prices, net falls 91 per cent to Rs 717 crore
Owing to an inventory loss of Rs6,655 crore due to falling oil prices, state-owned Indian Oil’s (IOC) net profit fell a steep 91% in the December 2018 quarter to Rs717 crore compared with Rs7,883 crore a year ago.
ONGC preparing strategic vision document for 2040: CMD Shashi Shanker
State-owned Oil and Natural Gas Corp (ONGC) is mulling on a vision document for 2040 that will lay the strategic roadmap for the nation’s largest oil and gas producer for the next two decades. ONGC Chairman and Managing Director Shashi Shanker, in his speech after hoisting the national flag at the company headquarters at Dehradun, […]
Oil Prices: OPEC+ pact may have averted crude glut
Oil producing states in OPEC and beyond are going to prevent a buildup of global crude inventories in the first half of this year—assuming they can resist the temptation to cheat on a December pact to restrict supplies.