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Fuel Station

India’s petrol, diesel demand yet to recover fully despite end of Covid lockdown

Operations across 23 refineries nationwide were at 77% of capacity in May & amount of crude processed was almost 25% lower year-on-year.
Representational image. Photo | Pixabay

Saudi Arabia faces a double crisis and people are waking up to a harsh new reality

With plunging crude prices and coronavirus shutdowns, the non-oil economy in Saudi Arabia is expected to contract for the first time in over 30 years.

The oil crash couldn’t have come at a better time for India’s rupee

As crude prices tanked, it brought relief for India: The rupee rebounded about 2% from a record low touched last month.

India takes advantage of cheap oil prices, stores it at sea as onshore tanks full

Price of crude oil fell because of fall in consumption due to Covid-19 outbreak and price war between Saudi Arabia & Russia, that forced other producers to slash prices.
Representational image Oil storage tanks in Cushing, Oklahoma. Photographer: Daniel Acker/Bloomberg

Recovery in oil consumption could take decades as aftermath of Covid crisis remains unclear

After the oil-price slump of the mid-1980s, it took two decades for prices to return to their previous levels — longer if you build in the effects of inflation.
Singapore coastline. Photo | Bloomberg

Singapore’s coastline is packed with ships full of oil no one wants

About 60 fuel tankers are anchored along the busy strait, some being used to hoard fuel at sea, others waiting to be redirected to any willing buyer.

Should Modi govt let oil crash cushion finances or will lower retail prices revive economy?

The global oil slump has given Modi govt the cushion to hike fuel taxes to meet revenue shortfalls. But retail fuel prices still hover around pre-Covid-19 levels.
People in the US carry placards calling for pro-immigration policies | Photo: Pixel

After asylum ban, US to temporarily halt immigration and could suspend work visas

From first global Covid-19 casualty for aviation industry to likely higher toll in Latin American countries — ThePrint brings you 8 important global stories linked to Covid-19.
Oil Facilities And Services Ahead Of Final Year Figures After Demonetization Induced Fluctuation

Oil price falls below zero dollar a barrel, that’s right – below $0

The world’s most important commodity is quickly losing all value as chronic oversupply overwhelms the world’s crude tanks, pipelines and supertankers.
Representational image Oil storage tanks in Cushing, Oklahoma. Photographer: Daniel Acker/Bloomberg

Oil price falls to 21-year low as demand sinks and the world runs out of storage

New York futures fell to less than $16 a barrel as deal by OPEC+ and other producers failed to counter the demand hit from a crippled global economy.

On Camera

Delhi University | Photo by Suraj Singh Bisht | ThePrint

Delhi University has one obsession and it’s making a mess of it. Exams

After months of back-and-forth over the much-criticised online Open Book Examinations, Delhi University has postponed its exams once again.
File image of Principal Economic Advisor Sanjeev Sanyal | Photo: ANI

India has fiscal and monetary space to boost demand: Principal Economic Advisor Sanyal

Sanjeev Sanyal said at India Global Week that the government has been careful not to spray money and take a step-by-step approach to economic revival.

Defence

Representational image | Soham Sen | ThePrint

India, China corps commanders to meet next week, will focus on next round of disengagement

Agenda for the corps commanders meeting will be finalised after India-China Working Mechanism for Consultation & Coordination meet likely to be held Friday.
Central Reserve Police Force (CRPF) men in Maharashtra | ANI

Read my lips, forget the camera

Say Central forces' angry soldiers. They need reform, committed leaders. And very sensitive handling.