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  • Oil prices hit 13-month highs on tighter supplies, Fed assurance on low rates Feb 25, 2021 10:55 AM IST

    Oil prices hit 13-month highs on tighter supplies, Fed assurance on low rates

    Brent crude futures for April gained 19 cents, 0.3%, to $67.23 a barrel by 0400 GMT, while U.S. West Texas Intermediate crude for April was at $63.30 a barrel, up 8 cents, 0.1%.

  • OPEC+ to weigh modest oil output boost at meeting: Sources Feb 25, 2021 07:20 AM IST

    OPEC+ to weigh modest oil output boost at meeting: Sources

    The Organization of the Petroleum Exporting Countries and allies, known as OPEC+, cut output by a record 9.7 million bpd last year as demand collapsed due to the pandemic. As of February, it is still withholding 7.125 million bpd, about 7% of world demand.

  • Commodity market rally can disturb the equity market party Feb 24, 2021 09:59 AM IST

    Commodity market rally can disturb the equity market party

    High commodity prices may not be passed on, having a severe effect on the bottomlines of many companies

  • Long-serving Saudi oil minister Ahmed Zaki Yamani dies at 90 Feb 23, 2021 04:31 PM IST

    Long-serving Saudi oil minister Ahmed Zaki Yamani dies at 90

    Yamani also oversaw what would become the full nationalization of the Arabian American Oil Co. after the 1973 oil crisis.

  • Oil gains as US production slowly returns after freeze Feb 22, 2021 07:48 AM IST

    Oil gains as US production slowly returns after freeze

    Brent crude was up 76 cents, or 1.2%, at $61.67 a barrel by 0104 GMT, after gaining nearly 1% last week. U.S. oil rose 74 cents, or 1.3%, to $59.98 a barrel, having fallen 0.4% last week.

  • Oil prices extend gains as Texas cold snap cuts US output Feb 18, 2021 08:29 AM IST

    Oil prices extend gains as Texas cold snap cuts US output

    Brent crude climbed 93 cents, or 1.5%, to $65.27 a barrel by 0219 GMT, touching its highest since Jan. 20, 2020. U.S. West Texas Intermediate (WTI) crude futures gained 76 cents, or 1.2%, to $61.90 a barrel, registering its highest since Jan. 8, 2020.

  • Oil rises on fears of heightened tensions in Middle East Feb 15, 2021 07:46 AM IST

    Oil rises on fears of heightened tensions in Middle East

    Hopes for more U.S. stimulus and an easing of coronavirus lockdowns helped support the rally, after prices gained around 5% last week.

  • Oil drops after strong rally, demand hopes limit losses Feb 11, 2021 08:50 AM IST

    Oil drops after strong rally, demand hopes limit losses

    Brent crude fell 39 cents, or 0.6%, to $61.08 a barrel, as of 0231 GMT, after touching its highest since January 2020 on Wednesday. U.S. crude slid 35 cents, or 0.6%, to $58.33 a barrel.

  • BPCL's Oman Oil stake buy in Bina refinery in 10 days; Numaligarh refinery stake sale by March 31 Feb 09, 2021 07:52 PM IST

    BPCL's Oman Oil stake buy in Bina refinery in 10 days; Numaligarh refinery stake sale by March 31

    New Delhi, Feb 9 Privatisation-bound Bharat Petroleum Corporation Ltd (BPCL) will buy out Oman Oil Company's shares in Bina refinery project in the ..

  • Brent strikes $60 per barrel as supply cuts, stimulus hopes boost prices Feb 08, 2021 01:19 PM IST

    Brent strikes $60 per barrel as supply cuts, stimulus hopes boost prices

    Brent crude for April touched an intraday high of $60.06 a barrel, the highest since January last year. The front-month contract was at $59.90 by 0728 GMT, up 56 cents, or 0.9%.

  • Oil prices rise to highest in a year on US growth optimism, crude supply restraint Feb 05, 2021 08:27 AM IST

    Oil prices rise to highest in a year on US growth optimism, crude supply restraint

    U.S. West Texas Intermediate (WTI) crude futures jumped 51 cents, or 0.9%, to $56.73 a barrel by 0210 GMT, after touching a high of $56.75, the most since Jan. 22 last year. The benchmark contract is on track for a weekly gain of nearly 9%, which would be its biggest weekly gain since October.

  • India warns rising oil prices may dampen global economic recovery Feb 04, 2021 02:21 PM IST

    India warns rising oil prices may dampen global economic recovery

    Global crude oil prices rose to their highest in about a year this week as production cuts by the Organization of the Petroleum Exporting Countries and their allies including Russia tilted the market balance towards a deficit.

  • EXCLUSIVE | Bifurcation of state-owned GAIL put on hold Feb 04, 2021 01:37 PM IST

    EXCLUSIVE | Bifurcation of state-owned GAIL put on hold

    The government's plan was to unbundle GAIL into two companies for gas transmission and marketing business and the state-run company had entrusted Ernst &Young as a consultant for this.

  • Oil climbs after OPEC+ maintains oil output cuts, US stock draw Feb 04, 2021 10:18 AM IST

    Oil climbs after OPEC+ maintains oil output cuts, US stock draw

    Brent crude futures gained 47 cents, or 0.8%, to $58.93 a barrel, by 0317 GMT, having earlier hit their highest since Feb. 21, 2020 in the wake of the OPEC+ decision.

  • Budget 2021: Capital outlay for energy majors sees a rise Feb 02, 2021 04:59 PM IST

    Budget 2021: Capital outlay for energy majors sees a rise

    For FY22, investment in state-run oil and gas companies is pegged at Rs 104,870 crore, up from Rs 99,650 based on the revised estimates of FY21.

  • Oil treads warily higher amid patchy vaccine rollouts, new coronavirus variants Feb 01, 2021 08:14 AM IST

    Oil treads warily higher amid patchy vaccine rollouts, new coronavirus variants

    Brent crude futures were up 10 cents at $55.14 a barrel by 0233 GMT, while U.S. West Texas Intermediate (WTI) gained 1 cents to $52.21. Both benchmarks gained nearly 8% in January.

  • Exxon, Chevron CEOs discussed merger in early 2020 Feb 01, 2021 06:13 AM IST

    Exxon, Chevron CEOs discussed merger in early 2020

    The talks between Exxon Chief Executive Darren Woods and Chevron CEO Mike Wirth were serious enough for legal documents involving certain aspects of the merger discussions to be drafted, a source told Reuters

  • Oil falls on demand fears, strengthening dollar Jan 28, 2021 11:31 AM IST

    Oil falls on demand fears, strengthening dollar

    U.S. West Texas Intermediate (WTI) crude futures fell 33 cents, or 0.62%, to $52.52 a barrel at 0452 GMT, erasing Wednesday's gain.

  • ConocoPhillips-styled Indian overseas assets seizure to collect $1.4 billion Cairn award Jan 26, 2021 12:01 PM IST

    ConocoPhillips-styled Indian overseas assets seizure to collect $1.4 billion Cairn award

    The British firm has begun identifying overseas Indian assets in case the Indian government fails to honour the arbitration award.

  • Oil prices edge lower amid doubts over US stimulus, rising coronavirus cases Jan 26, 2021 08:06 AM IST

    Oil prices edge lower amid doubts over US stimulus, rising coronavirus cases

    Brent crude was down 15 cents at $55.73 by 0135 GMT, having risen nearly 1% on Monday. U.S. crude was also lower, dropping 5 cents to $52.72, after declining 1% in the previous session.

  • Oil drops as new COVID cases in China trigger clampdowns Jan 22, 2021 07:57 AM IST

    Oil drops as new COVID cases in China trigger clampdowns

    U.S. West Texas Intermediate (WTI) crude futures dropped 47 cents, or 0.9%, to $52.66 a barrel at 0148 GMT, after slipping 18 cents on Thursday.

  • Oil slips on surprise rise in US crude stocks Jan 21, 2021 08:26 AM IST

    Oil slips on surprise rise in US crude stocks

    U.S. West Texas Intermediate (WTI) crude futures fell 27 cents, or 0.5%, to $53.04 a barrel at 0147 GMT, following two days of gains on hopes of massive COVID-19 relief spending under new U.S. President Joe Biden.

  • Oil rise on hopes of US stimulus and crude stocks drawdown Jan 20, 2021 11:35 AM IST

    Oil rise on hopes of US stimulus and crude stocks drawdown

    U.S. West Texas Intermediate (WTI) crude futures climbed 37 cents, or 0.7%, to $53.35 a barrel at 0427 GMT, building on a 1.2% rise on Tuesday.

  • Exclusive | BPCL may buy Oman oil company OQ's stake in Bina refinery for Rs 2,000 crore Jan 19, 2021 05:13 PM IST

    Exclusive | BPCL may buy Oman oil company OQ's stake in Bina refinery for Rs 2,000 crore

    According to a source close to the development, the deal is likely to happen before the privatisation of BPCL

  • Oil mixed as Chinese lockdowns raise demand questions Jan 15, 2021 08:21 AM IST

    Oil mixed as Chinese lockdowns raise demand questions

    Brent was down 3 cents at $56.69 by 0133 GMT, after gaining 0.6% on Thursday. U.S. West Texas Intermediate crude was up 12 cents at $53.69 a barrel, having risen more than 1% the previous session.

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