The price of oil - which drives the Russian economy - has fallen around $15 a barrel since the start of the year. OPEC+ will accelerate oil output hikes, Reuters reported.
Oil prices are nearly 40% lower than they were in June 2022, when fuel prices were effectively frozen; yet, consumers have not benefited from this decrease.
Petrol & diesel prices have barely changed since June 2022, even though oil prices have fallen 28% since then. This has boosted profitability of OMCs and dividend payouts to govt.
Rising oil prices and muted second quarter financial performance of key IT sector companies are other sources of potential volatility for Indian markets.
Brent crude futures & US West Texas Intermediate crude futures both rose 0.6% a barrel. Both benchmarks fell more than 2% Monday as diplomatic efforts in Middle East intensified.
Development leads to hopes that the Israeli-Palestinian crisis could de-escalate without engulfing the rest of the Middle East region and disrupting oil supplies.
Organization of Petroleum Exporting Countries and their allies, including Russia, shook markets by announcing output cuts of about 1.16 million barrels/day on Sunday.
The distinctiveness of her writing is evident in her compositions—women, shudras, and atishudras are at the center. Her poetry challenges the aesthetics of 'modern' Marathi literature.
With bad loans shrinking & capital buffers stronger, urban co-op banks’ new umbrella body NUCFDC is now prioritising rollout of digital transformation.
If deal goes through, Greece will be 2nd foreign country to procure vehicle. Morocco was first; TATA Group has set up manufacturing unit there with minimum 30 percent indigenous content.
Many of you might think I got something so wrong in National Interest pieces written this year. I might disagree! But some deserve a Mea Culpa. I’d deal with the most recent this week.
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