Thursday, 27 January, 2022
TopicOil Prices

Topic: Oil Prices

India’s addiction to cooking oil imports seen lasting for at least 15 more years

India will likely produce about 10 million tonnes of edible oils in 2021-22, compared with local consumption of as much as 23 million tonnes.

Omicron spread yet to curb driving across most of Asia in boon for oil

More cars have thronged the main roads in December amid year-end festivities than seen last month. All but one major Asian country registered a rise in mobility on-month.

When is world war three? In 60 days, if this ex-senator from Pakistan is to be believed

Former PPP member Faisal Raza Abidi said he will "reveal" the person who's currently ruling the world in a series of nine programmes.

‘Up to govt to take decision’, RBI governor raises concern over high petrol taxes

The Modi govt had hiked duties & cesses on fuels like petrol and diesel to record levels after a sharp dip in global crude prices last year resulting in higher revenue collections.

Centre cuts import duty on crude palm oil to 10% to lower retail edible oil prices

The effective duty, which includes cess and other charges, on crude palm oil will be 30.25% while for refined palm oil it would be 41.25% from Wednesday.

Why Modi govt must stop depending on petrol, diesel taxes to bridge its fiscal deficit

The duty on petrol, diesel is the govt’s way out of a tight fiscal situation, but it can lead to problems like inflation & excessive dependence on petroleum products.

Oil rises above $30 a barrel for the first time in two months after producers cut activity

The producer alliance is responding to the demand destruction wrought by the virus, and the cutbacks are on their way to their goal of removing around 10% of global supplies.

Not just US, its adversaries China and Russia are struggling under Covid-19 too

Russia’s public health system won't be able to handle the number of Covid-19 cases the country is likely to suffer. China has reported its first economic contraction in 28 years.

Sensex plunges over 1,000 points, NSE Nifty nears 9,000 level

Sensex tracked heavy losses in banking, energy and IT stocks amid volatility in global market as international crude oil prices went into a tailspin overnight.

The historic oil price truce among OPEC+ countries won’t last

Don’t be surprised if the war over market share between Saudis, Russians and Americans resumes once the lockdowns ease and people want oil again.

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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