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  • OMC stocks slip up to 2% amid price-cut buzz June 08, 2023 10:47 AM IST

    OMC stocks slip up to 2% amid price-cut buzz

    Reports say the government has asked oil marketing companies, which have recovered most of their losses and are nearing normal, to cut prices as crude slides

  • Short Call: Rate hopes, Coal India, Siemens, Titagarh Wagons, and not-so-smart money June 08, 2023 08:47 AM IST

    Short Call: Rate hopes, Coal India, Siemens, Titagarh Wagons, and not-so-smart money

    For now, the market appears to have moved past interest rates, and the focus is on institutional fund flows

  • Chart of the Day | Saudi crude oil output cut will not hit India, but can tilt market balance June 06, 2023 09:40 AM IST

    Chart of the Day | Saudi crude oil output cut will not hit India, but can tilt market balance

    Total production cuts by the oil producing countries’ cartel is projected to reach 4.6 percent of the global demand in July 

  • Crude oil prices to remain weak despite production cuts by Saudi: Analysts June 05, 2023 09:19 PM IST

    Crude oil prices to remain weak despite production cuts by Saudi: Analysts

    Saudi Arabia on June 4 announced a 1 million bpd cut in oil production starting in July.

  • ONGC plans Rs 30,125 crore capex, sees output increasing in FY24  May 29, 2023 06:03 PM IST

    ONGC plans Rs 30,125 crore capex, sees output increasing in FY24 

    The oil exploration company said that in the last five years, it has spent around Rs 1,44,000 crore on capital expenditure.

  • India increases share of Russia’s sweeter crude in oil imports May 26, 2023 07:04 PM IST

    India increases share of Russia’s sweeter crude in oil imports

    Indian imports of sweeter crude oil from Russia, such as the ESPO blend, almost doubled in the month of April.

  • Oil prices ease on caution over US debt ceiling talks May 18, 2023 08:51 AM IST

    Oil prices ease on caution over US debt ceiling talks

    Brent crude futures dipped 20 cents, 0.3%, to $76.76 a barrel as of 0228 GMT. U.S. West Texas Intermediate crude also dropped 20 cents to $72.63 a barrel.

  • OIL, ONGC shares gain 2% after govt slashes windfall tax to nil May 16, 2023 11:09 AM IST

    OIL, ONGC shares gain 2% after govt slashes windfall tax to nil

    The windfall tax on crude petroleum has been slashed to nil from Rs 4,100 per tonne, according to a notification issued by the government late on May 15.

  • Windfall tax on crude oil down to nil from Rs 4,100 per tonne May 16, 2023 06:53 AM IST

    Windfall tax on crude oil down to nil from Rs 4,100 per tonne

    Windfall tax, also referred to as the special additional excise duty, was already nil on aviation turbine fuel (ATF), petrol and diesel. The same has been left unchanged.

  • Indian equity markets and the intersection of crude oil, forex and interest rates May 16, 2023 09:40 AM IST

    Indian equity markets and the intersection of crude oil, forex and interest rates

    While the domestic equity market is optimistic about the possibility of the Fed not raising rates again, India may have to follow a different rate cycle of its own

  • Crude oil prices firm as USD retreats | China's crude import declines by 16% | Commodities live May 11, 2023 01:33 PM IST

    Crude oil prices firm as USD retreats | China's crude import declines by 16% | Commodities live

    Crude oil firms as USD retreats. Prices rose by 7% this week. There is a decline seen in inventories of gasoline, distillates & jet fuel. How does this impact India? Watch Commodities with Manisha Gupta to know more.

  • India’s trade ministry acts to cut ballooning trade deficit with Russia, reaches out to EPCs: Sources May 11, 2023 04:22 PM IST

    India’s trade ministry acts to cut ballooning trade deficit with Russia, reaches out to EPCs: Sources

    Discounted crude oil has constituted a large portion of India’s imports since last year. OPEC made up for as much as 90 per cent of all crude oil India imported at one point of time, but this has been sliding since Russian oil became available at a discount in the aftermath of Moscow's invasion of Ukraine in February last year.

  • Short Call | It's about Federal Bank, Marico, volatile crude, and a turning point for lithium May 09, 2023 08:20 AM IST

    Short Call | It's about Federal Bank, Marico, volatile crude, and a turning point for lithium

    The Federal Reserve said in its financial stability report on Monday the system overall remained stable, but flagged banking system pressures, real estate stress and persistent inflation

  • Oil climbs almost 3% as recession fears begin to fade May 08, 2023 05:42 PM IST

    Oil climbs almost 3% as recession fears begin to fade

    Brent crude was up $1.83, or 2.4%, at $77.13 a barrel by 1200 GMT. U.S. West Texas Intermediate (WTI) crude gained $2.06, or 2.9%, to $73.40.

  • Risk of balance-of-payments crisis abating for India; RBI to sharpen focus on reducing inflation: Charles Gave, Gavekal Research May 08, 2023 12:56 PM IST

    Risk of balance-of-payments crisis abating for India; RBI to sharpen focus on reducing inflation: Charles Gave, Gavekal Research

    Gave also said the best way for India to deal with structural macro problems would be to maintain the policy rate above inflation “to prevent the inefficient people from having access to capital”.

  • Russia remains top supplier of crude oil to India in April; supplies 1.68 million bpd May 05, 2023 07:11 PM IST

    Russia remains top supplier of crude oil to India in April; supplies 1.68 million bpd

    In April 2023, Iraq supplied 812,000 bpd of crude oil to India while Saudi Arabia provided 671,000 bpd.

  • MC Explains | Why are crude oil prices falling despite supply cuts? May 05, 2023 01:42 PM IST

    MC Explains | Why are crude oil prices falling despite supply cuts?

    The sharp fall in crude oil prices is majorly on account of concerns about a weakening global economy and recession deterring energy demand. Morgan Stanley has lowered its forecast for Brent prices to $75 a barrel by the end of 2023

  • Short Call | Havells, Manappuram, Tata Power, Godrej Properties in focus amid war for AI talent & Buffet’s oil feast May 05, 2023 08:28 AM IST

    Short Call | Havells, Manappuram, Tata Power, Godrej Properties in focus amid war for AI talent & Buffet’s oil feast

  • Oil edges up after three-day plunge, demand woes linger May 04, 2023 04:12 PM IST

    Oil edges up after three-day plunge, demand woes linger

    Brent futures were up 73 cents, or 1.01%, to $73.06 a barrel by 0957 GMT. U.S. West Texas Intermediate (WTI) crude rose 49 cents, or 0.71%, to $69.09.

  • Fuel prices on May 3: Petrol, diesel rates unchanged across metros May 03, 2023 09:42 AM IST

    Fuel prices on May 3: Petrol, diesel rates unchanged across metros

    On May 2, the government cut the so-called windfall tax on crude oil to Rs 4,100 a tonne from Rs 6,400 a tonne

  • Govt reduces windfall tax on crude oil to Rs 4,100 May 02, 2023 06:11 AM IST

    Govt reduces windfall tax on crude oil to Rs 4,100

    The government has left the windfall tax on petrol, diesel and aviation turbine fuel at zero

  • Oil trade in rupee can be ‘game changer’ for India: Charles Gave, Gavekal Research May 01, 2023 03:29 PM IST

    Oil trade in rupee can be ‘game changer’ for India: Charles Gave, Gavekal Research

    India has tended to be permanently on the cusp of a balance-of-payments crisis due to its reliance on energy imports priced in US dollars. But the situation is changing now.

  • A reality check for the unhappy marriage between the oil industry's two influential bodies May 01, 2023 09:46 AM IST

    A reality check for the unhappy marriage between the oil industry's two influential bodies

    IEA is an energy agency and OPEC a petroleum organisation. IEA wants OPEC to ensure security of supply while the oil cartel wants IEA to ensure security of demand. But IEA won't guarantee that with electrical vehicle sales rising and crude oil demand stagnating

  • Crude oil prices expected to remain volatile, says official April 29, 2023 08:30 PM IST

    Crude oil prices expected to remain volatile, says official

    While demand recovery in China is expected to be a positive factor for crude oil prices, weak economic activity in the US and Europe may drag prices down, the official added.

  • Indian oil companies await $300-$400 million dividends from Russia amidst sanctions April 29, 2023 07:18 PM IST

    Indian oil companies await $300-$400 million dividends from Russia amidst sanctions

    Indian companies including ONGC, Oil India, BPCL and Indian Oil have stakes in Russian oil and gas projects.