Thursday, 27 January, 2022
TopicCrude oil

Topic: crude oil

Oil soars to 7-year high with market bolstered by resilient demand

Oil’s rally poses a challenge for consuming nations and central banks as they try to stave off inflation while supporting global growth.

Oil demand recovery in India poised to weather Covid surge

India’s total oil demand is expected to grow 4% to 5% over the 12 month ending 31 March compared with a year earlier.

India to release 5 million barrels of crude oil from emergency stockpiles to cool prices

The US last week made the unusual request to some of the world’s largest oil-consuming nations to consider releasing crude oil in a coordinated effort to lower global energy prices.

Govt scraps basic custom duty, cuts agriculture cess on crude palm, sunflower oil

The move, which will remain in force till 31 March 2022, is expected to bring down the prices of crude palm, soyabean and sunflower oil and increase domestic availability of them.

Saudi Aramco, Reliance in advanced talks for $25 billion deal

Shares in Reliance extended gains to as much as 2.6% after reports of a possible deal between Reliance & Aramco after more than two years of negotiations.

Wholesale inflation hits record high of 12.94% in May amid rising fuel prices

This is the fifth straight month of uptick seen in WPI-based inflation. In April 2021, WPI inflation hit double digit at 10.49%

Oil demand to buckle in India as Covid surge forces states into lockdowns

The combined consumption of diesel and gasoline in April is poised to plunge by as much as 20% from a month earlier due to renewed restrictions, including in Delhi.

With Saudi acting pricey, India prepares to buy Iranian crude as soon as US sanctions ease

India imports more than 85% of its total oil needs. Getting access to Iranian crude would bring a number of benefits, including cheaper barrels and a longer credit cycle.

Why India is buying more crude oil from Africa & North America and not Middle East

India's shift to exporters like US and Nigeria comes amid an increased demand for gasoline, as the pandemic pushes people to private cars instead of public transport.

India, Pakistan, Bangladesh to see booming trade as dip in oil shipping leaves tankers empty

Saudi & other producers are keeping millions of oil barrels off the market, leaving supertankers unemployed and likely to be junked on the beaches India, Pakistan & Bangladesh.

On Camera

YourTurn

File photo of Russian President Vladimir Putin in Moscow | Photo: Andrey Rudakov | Bloomberg

How Vladimir Putin keeps everyone guessing

Over the years, Putin has always had the upper hand tactically vis-à-vis the West because he’s had what’s called escalation dominance. But experts say he may have gone a big step too far.
AU Small Finance Bank Managing Director and Chief Executive Sanjay Agarwal. | Photo by special arrangement

MSME sector requires hand-holding, Budget measures needed: AU Small Finance Bank MD & CEO

The sector has faced continued distress since the Covid-19 pandemic struck in March 2020. Govt data says about 9% of MSMEs shut down due to the pandemic.

Defence

The photo of former PM Indira Gandhi with the three former service chiefs | Photo: Wikimedia Commons

‘Mystery’ brochure on 1971 War crops Indira Gandhi, Jagjivan Ram from images, courts controversy

Both images show the then service chiefs, but the former PM and defence minister is removed from them.

Modi vs non-BJP CMs: When most popular isn’t all-powerful & why Centre-state ties will worsen

Modi’s inability to win many states, and the huge popularity his rivals enjoy there, is pushing Indian politics in a more robustly federal direction.
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