Lower Oil Prices

IEA sees US oil output collapsing next year on low prices

The IEA, which advises the world's biggest economies on energy policy, said global oil demand was poised to climb to a five-year high this year thanks to lower prices.

UBS cuts India's growth forecast to 7.1% for FY16

The global financial services firm has also lowered its growth projection for financial year 2016-17 to 7.6 percent from 8.3 percent earlier. India's GDP growth rate slipped to 7 percent in the April-June quarter of 2015-16, from 7.5 percent in the preceding quarter.

More Quantitative Easing (QE) to come from Draghi?

This time the culprit was not Greece but China, as it unexpectedly devalued its currency and pulled several about-faces on whether it was letting the yuan float freely and whether it was propping up blue chip stocks.

IMF: First-half global growth weak-here's why

The analysis comes at a time when global markets have been in flux, with US crude prices closing up nearly 2 percent on Wednesday after falling as much as 4 percent. This move came a day after crude futures settled down nearly 8 percent after a massive three-day rally.

Why emerging market currencies are collapsing

The latest is the Kazakhstan tenge, which tumbled more than 20 percent Thursday against the dollar after the Central Asian country said it would adopt a free-floating currency policy. On Wednesday, Vietnam devalued its currency for the third time this year.

Jet mulls extending lease of six aircraft with Etihad

The six aircraft are among the 10 that have been leased out by Jet Airways to other carriers - Etihad and Turkish Airlines.

Rate cuts, lower oil prices to boost consumption: Report

A surge in consumption, especially in rural India, was a big contributor which led to the recovery in the post-2008 financial crisis years.

Patel Logistics Q1 net jumps 135%

The leading logistics player said its revenue dipped 10 percent to Rs 133.7 crore in the April-June period due to inclement business conditions, while lower oil prices and cost control measures boosted EBITA (earnings before interest, taxes, depreciation and amortisation) 36.65 percent.

Wall Street ends stronger after volatile session

US commercial crude oil stocks likely slipped in the week ended July 3 after rising for the first time since April in the previous week, an expanded Reuters survey showed on Tuesday.

Nobody is safe! Why US oil firms could get bought

Crude oil has made a sizable comeback in the past 3 months, but large integrated names like Exxon Mobil and Chevron remain stuck in rut.

OVL posts 57% drop in net profit at Rs 1,904 cr in FY15

The company's net profit in the previous fiscal stood at Rs 4,445 crore, the company said in a statement. The revenue fell by 14.63 per cent to Rs 18,491 crore. OVL produced 5.53 million tonnes of crude oil in 2014-15, marginally higher than 5.48 million tonnes a year ago. Gas output was 16.37 per cent higher at 3.34 billion cubic meters.

Fed rate hike doubts support Asia FX for week

Malaysia's ringgit hovered near a two-week high as the economy grew at a faster-than-expected pace in the first quarter and its current account surplus almost doubled.

Russia has bigger concerns than oil, ruble: Russia Dep PM

Russia's economy, which grew by just 0.6 percent in 2014, is expected to enter a deep recession this year under the weight of lower oil prices and sanctions, which have compounded the country's underlying structural weaknesses and undermined business and consumer confidence.

India will clock 7.5% growth in '15-16, overtake China: IMF

IMF's growth projection of India, however, is lower than the estimates of the Finance Ministry and the RBI. The Finance Ministry expects GDP growth to be 8-8.5 percent in 2015-16, while the Reserve Bank of India (RBI) has estimated it at 7.8 percent .