Petroleum plant

Photo: The Economic Times

Delay In Crude Oil Export From Iran Leads To Increased Global Price

The oil prices have drastically increased because of delay in return of Iranian crude oil to the global markets. However, the reason behind the hike in oil prices is due to the import bans on Russia. On March 6, talks for reviving Iran's 2015 nuclear deal with the world powers, which also included Russia, is now expecting a guarantee from the US that the trade won't be affected.

Mon, 07 Mar 2022 - 07:53 PM / by Rupsa Debnath

Tags: Iran, Crude Oil, International Oil Markets, Ukraine Russia Crisis, US President

Courtesy: India Today

A worker rides a bicycle at the Bharat Petroleum Corporation refinery

Photo: Reuters

Indian Refineries To Work With Govt To Seal 'Wise' Crude Oil Deals

With local gasoline and gasohol prices rising to record highs in India's worst power crisis, the nation wants to redouble efforts to buy crude oil wisely. Hence, India is forming a group bringing together state and private refiners to seek better crude import deals. India also asked the Organisation of the Petroleum Exporting Countries (OPEC), and its allies OPEC+, to boost output to bring down global oil prices.

Sat, 23 Oct 2021 - 09:00 PM / by SAM RAHUL RAJASHEKHAR

Tags: International Oil Markets, Crude Oil, INTERNATIONAL CRUDE OIL, Petrol diesal price

Courtesy: reuters

A man on the background of dusk

Photo: Business Standard

Saudi Arabia To Increase Crude Oil Production To Pre-Covid Levels

Following the Eighteen months since the pandemic, Saudi Arabia is now set to pump 9.8 million barrels a day that will almost be equal to the pre-Covid levels of production. Reportedly, Riyadh slashed its production several times in 18 months. The decision will also help the country to revive its economy soon. Saudi Energy Minister Prince Abdulaziz bin Salman even revived crude prices to $80 a barrel.

Sat, 02 Oct 2021 - 08:42 PM / by Muskan Arora

Tags: Saudi Arabia, International Oil Markets, OPEC, Crude Oil

Courtesy: The Economic Times

Crude Oil

Photo: Reuters

As Demands Fall, Oil Price In US Drops To Lowest Since May At $66

As the new Delta variant spreads across causing the rise in Covid cases globally, it has also severely affected international markets. The Crude Oil prices on August 19 in the US fell to an all-time low to $66 per barrel since May 2021. The price of Oil companies went down for six days in a row as their demand fell. The US claims one of the most numbers Covid related fatalities. 

Thu, 19 Aug 2021 - 08:08 PM / by Prateek Chakradhar

Tags: International Oil Markets, INTERNATIONAL CRUDE OIL, Brent Crude, US crude

Petroleum minister Dharmendra Pradhan

Photo : India TV

Petrol, Diesel Prices Might Decrease: Petroleum Minister Dharmendra Pradhan

Union Petroleum Minister Dharmendra Pradhan has intimated a decrease in fuel prices in the coming days as the international market situation improves. According to Pradhan, petrol, diesel, and LPG prices will go down as the reduction of crude oil prices in the international market will benefit customers. However, fuel prices in major cities like Delhi and Mumbai remain the same. 

Sun, 04 Apr 2021 - 04:20 PM / by Neha Sanjeev

Tags: petrol diesel price, Dharmendra Pradhan, Crude Oil, International Oil Markets

Courtesy: Zee News