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Oil rockets from 12-year low on renewed talk of OPEC cut

13-02-2016| Source:Reuters

Global oil prices surged as much as 12 percent on Friday after a report once again suggested OPEC might finally agree to cut production to reduce the world glut, while a bounce in stock markets fed

What's behind the global stock market selloff?

13-02-2016| Source:Reuters

of central banks' policies.At the same time, tumbling energy prices are upending the economies of oil-producing countries, further slicing into global economic growth.Only six weeks ago cheap oil prices were

UAE oil minister expects market supply to 'stabilise'

13-02-2016| Source:PTI

Emirati Oil Minister Suhail al-Mazrouei said he expects supply levels on world markets to "stabilise", easing pressure on crumbling prices."The market will oblige all (producers) not to reduce

HPCL turns corner in Q3, profit at Rs 1042.3 cr; GRM improves  


Operating profit (earnings before interest, tax, depreciation and amortisation) stood at Rs 2,240 crore in Q3 against EBITDA loss of Rs 58 crore in Q2, aided by lower crude oil prices.

IOC posts Q3 profit at Rs 3057 cr on strong EBITDA performance


fall in crude oil prices.

BPCL Q3 profit jumps 46% to Rs 1489cr, GRM improves to $7.67/bbl


quarter-on-quarter to Rs 2,417 crore due to fall in crude oil prices. Margin expanded 230 basis points to 5.2 percent QoQ.Other income in Q3 plunged 56 percent to Rs 301.05 crore and tax expenses

US crude jumps 4% from 12-year lows but outlook still bleak

12-02-2016| Source:Reuters

US crude prices bounced away from 12-year lows early on Friday after comments by an OPEC energy minister sparked hopes of a coordinated production cut, yet analysts said such a move remained unlikely

ONGC Q3 profit tanks 73.4% to Rs 1286 cr on impairment loss  


"The company has provided an amount of Rs 3,994 crore as impairment loss due to fall in crude oil prices in international market during the quarter," the country's largest state-owned oil

Oil falls near 2003 low on supply, weak demand outlook

11-02-2016| Source:CNBC

In a sign that producers are still competing for market share by lowering prices, Iran offered its crude to Asia at a discount to rival OPEC producer Saudi Arabia.

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