Crude Oil

Scientists to make painkillers from 'paper waste' instead of crude oil

Common drugs such as paracetamol and ibuprofen can now be made from a compound found in pine trees, which is also a waste product from the paper industry, instead of crude oil products, according to a study

Jul 11, 2023

Centre hikes windfall tax on domestic crude oil

The Central government has hiked windfall tax on domestic crude oil and reduced the tax on export of diesel.

Nov 17, 2022

BPCL inks deal with Brazil's Petrobras aimed at diversifying crude oil sourcing

The new MoU will cut down India's reliance on particular regions in terms of crude exports

Sep 25, 2022

Chinese economy struggling, policy rate cut could impact 'Global Financial Markets'

Latest economic review, the DEA said the geopolitical environment remains tense and fraught.

Aug 20, 2022

Global headwinds: RBI lowers FY23 GDP growth forecast to 7.2%

Reserve Bank of India on Friday lowered India's FY23 GDP growth projection to 7.2 per cent from an earlier estimation of 7.8 per cent.

Apr 8, 2022

Petrol, diesel prices hiked for 12th time in 14 days; see fuel cost in your city [details]

The State-run oil marketing companies on Monday raised key transport fuel prices for the 12th time in the last 14 days.

Apr 4, 2022

Moody's cuts India's growth forecast for 2022 to 9.1 from 9.5, cites oil price hike

Moody's Investors Service on Thursday revised its India's GDP forecast down to 9.1 per cent from 9.5 per cent for 2022.

Mar 17, 2022

Brent crude prices surge above $110 per barrel

Concerns over lower supply amid escalating Russia-Ukraine conflict pushed up global crude oil prices to $110 per barrel on Tuesday.

Mar 2, 2022

Petrol, diesel prices may go up by over Rs 6 per litre, says ICRA; Here's why

High crude oil prices, due to geo-political concerns, can spike petrol, and diesel prices by Rs 6 to Rs 8 per litre, ratings agency ICRA said.

Feb 26, 2022

Sunflower oil prices may increase if Russia-Ukraine crisis blows up

Indian sunflower oil makers are hoping that the Russia and Ukraine crisis resolves smoothly so that the edible oil shipments resume soon from Ukraine.Since Russia and Argentina are there as alternate sources,there may not be any major impact on the retail prices of sunflower oil.

Feb 23, 2022

Fuel rates hiked again, petrol at Rs 106.19 a litre in Delhi, Rs.112.11 in Mumbai

Prior to October 13-16, petrol prices had risen on four days in a row by 35 paise per litre.

Oct 20, 2021

Nearing elections, softening crude restrain oil firms from hiking prices

Fuel prices in the country have remained steady for over a fortnight now as softening crude and upcoming elections in several states later this months has kept Oil companies from revising the retail prices.

Mar 18, 2021

How Biden's presidency could be huge win for Middle East | Explained

"A Biden presidency is likely to be a huge win for the Middle East to gain back the market share as it restricts shale production and can be supportive for crude oil prices," the report said.

Oct 17, 2020

Crude oil or cooking oil? For some US refiners, it's now a choice

Refiners have always produced fuel using crude oil. Now some are using grease.

Aug 27, 2020

India's crude imports fall to lowest in over a decade in July

India's crude oil imports fell in July to their lowest since March 2010 as fuel demand slowed amid renewed coronavirus-induced lockdowns and closures of refinery units for maintenance, government data showed on Thursday.

Aug 21, 2020

Donald Trump suspends immigration into US: 'Need to protect the jobs of American citizens'

US President Donald Trump said late on Monday night, April 20 that he will be signing an executive order to temporarily suspend immigration into the United States.

Apr 21, 2020

Oil jumps to highest in more than a week after Libyan shutdowns

In the latest development in a long-running conflict in Libya, the National Oil Corporation (NOC) on Sunday said two big oilfields in the southwest had begun shutting down.

Jan 20, 2020

Market today: Sensex up by 460 points, Nifty over 12,000 mark as oil cools marginally

The price of oil surged in the last two trading sessions after a drone strike by the US in Baghdad killed top Iranian military commander Qassem Soleimani.

Jan 7, 2020

Sensex, Nifty stumble as oil jumps after US air strikes Baghdad International Airport

India, the world's third-biggest oil consumer, imports about 80 per cent of its oil needs, making it highly susceptible to crude price swings.

Jan 3, 2020

Oil hits three-month highs on upbeat US and Chinese economic data

Data on Friday showed profits at China's industrial firms rose at the fastest pace in eight months in November.

Dec 27, 2019