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Global Oil Prices News

27 Apr 2022

DNA: Why PM Modi had to speak on petrol and diesel prices?

Today, Prime Minister Narendra Modi appealed to many states of the country to reduce VAT to reduce oil prices. However, these are the state governments where there are often protests against expensive oil prices.

07 Mar 2022

Oil price soars on talks about Russia oil ban, Iran deal delay

Global oil prices have spiked more than 60% since the start of 2022, along with other commodities, raising concerns about world economic growth and stagflation. Russia is Japan`s fifth-biggest supplier of crude oil and liquefied natural gas (LNG). Iran will take several months to restore oil flows even if it reaches a nuclear deal, analysts said.

25 Jan 2020

Petrol, diesel prices see big cut on Saturday following Coronavirus outbreak

The price of petrol was cut by 27 paise and that of diesel by diesel by 30 paise a litre across all major cities on Saturday.

10 Jul 2018

June inflation likely reached highest level in nearly 2 years: Poll

A high reading for June should cement expectations for the central bank to raise rates as early as August after its 25 basis points hike last month to try and control potential risks caused by higher inflation.

26 Mar 2018

China launches first ever yuan-denominated oil futures contract

China launched its first ever yuan-denominated oil futures contract in Shanghai on Monday, marking the first time foreign investors will have access to Chinese commodity futures as the world`s top crude importer seeks greater influence over global prices.

13 Feb 2017

Domestic airlines set to raise fares on costlier jet fuel

The cost of aviation jet fuel is on the rise, and with that domestic air fares are also set to see a northward trend.

31 Jan 2017

Spike in global oil price poses risk for growth: Economic Survey

It is not just demonetisation which is threatening the world's fastest growing economy tag of India. A spike in oil prices too may have dampening impact on the growth, the Economic Survey said today.

10 Dec 2016

Petrol price likely to touch Rs 80 per litre, diesel Rs 68/litre

The price of petrol is seen touching Rs 80 and diesel Rs 68 per litre if global oil prices cross $60 a barrel.

21 Jul 2016

Asian shares at 9-month highs on inflow bets; dollar strong

Asian stocks climbed to nine-month highs on Thursday, helped by a pickup in capital inflows and a recovery in global oil prices, while the dollar stood strong on growing bets of a U.S. rate increase as early as September.

Global Oil Prices

03 Mar 2016

Drop in global oil prices windfall for Indian economy: IMF

Terming the slump in global oil prices as a "large windfall" for India, the IMF said this has allowed the country to spend more on goods and services, and a "sharp decline" in inflation.

Global Oil Prices

12 Feb 2016

Oil rockets from 12-year low on renewed talk of OPEC cut

Global oil prices surged as much as 12 percent on Friday after a report once again suggested OPEC might finally agree to cut production to reduce the world glut, while a bounce in stock markets fed appetite for risk.

16 Dec 2015

Lower inflation result of reforms, global oil prices: FinMin

WPI-based inflation has come down from 6.0 percent in 2013-14 to 2.0 percent in 2014-15. The wholesale inflation has been in the negative zone since November 2014 and stood at -3.8 percent in October 2015.

24 Nov 2015

Oil prices climbs as Turkey shoots down Russian jet

Global oil prices rose today after Turkey shot down a Russian jet on the Syria border, sparking fresh tensions in the crude-rich Middle East, dealers said.

27 Oct 2015

Kuwaiti emir warns budget down 60% on low oil prices

Kuwait's ruler warned Tuesday his nation's revenue is down some 60 percent due to low global oil prices, urging citizens of this tiny country to be prepared for any economic reforms.

Global Oil Prices

13 Oct 2015

Oil prices rebound in Asia on bargain-hunting

Oil rebounded in Asia today on bargain hunting following a sharp fall the day before as lingering concerns about the global crude supply glut continued to keep a lid on gains.

30 Sep 2015

Gas price cut to $3.82, will dent govt revenues by Rs 800 cr

Locally produced gas in India will cost 18 percent less during October-March compared with the first half of the current fiscal year, a source with knowledge of the matter said on Wednesday, due to a decline in global prices.

09 Sep 2015

India should buy overseas assets aggressively: Pradhan

Opportunities emerging from low oil prices were discussed at a meeting called by Prime Minister Narendra Modi with business leaders, bankers and bureaucrats yesterday against the backdrop of global economic turmoil, he said.

26 Aug 2015

Watch: Should there be a cut in petrol and diesel prices?

Brent on Wednesday was up 30 cents at $43.51 a barrel by 1300 GMT, and US crude was up 10 cents at $39.41 a barrel.

05 Jun 2015

OPEC expected to keep status quo on oil output

However on Thursday, New York`s West Texas Intermediate (WTI) crude and London`s Brent oil both fell sharply for a second day as traders fretted that a no-change OPEC decision would further fuel the burgeoning global supply glut.

crude oil futures

29 May 2015

Crude oil futures surges by Rs 65 on Asian cues

Crude oil for delivery in June was trading notably higher by Rs 65, or 1.77 percent to Rs 3,733 per barrel, with a business turnover of 4,545 lots in futures trading at the Multi Commodity Exchange.

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