Crude Oil
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Half your fuel bill is in taxes but governments still ravenous
Jan 11, 2016, 07:33 AM ISTDespite the crash in the global prices of crude oil, the consumers are being denied a decent and deserving cut in their transport fuel bills with the government and oil retailers preferring to pocket the
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Crude prices drop amid ample supplies
World | Dec 09, 2015, 07:49 AM ISTNew York: Oil prices fell on Tuesday as market expected that global supplies will continue to exceed demand.The Organisation of the Petroleum Exporting Countries (OPEC) last Friday decided to keep crude production pumping at the
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Indian crude oil basket now dips below USD 43 per barrel
Aug 25, 2015, 11:04 AM ISTNew Delhi: As global crude oil prices plumetted to fresh six-year lows, the Indian basket also fell to $42.97 per barrel from $45.21 on the trading day before, as per official data released on Tuesday.The
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Iran asks India to clear $6.5 billion oil dues within 2 months
World | Aug 20, 2015, 05:43 PM ISTNew Delhi: Iran has asked India to pay within two months $6.5 billion in past oil dues, partly in rupees and rest in dollars or euros, a top official said."The payment will be in at
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Oil at sub-$49 brings fuel price cuts
Aug 17, 2015, 03:56 PM ISTNew Delhi: After having dropped below the psychological $50-a-barrel-mark earlier in the week, the Indian basket of crude oils closed below $49 on its last trading on the eve of Independence Day.State-run Indian Oil Corp
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Equity markets slip on Greece crisis, China stocks crash
Jul 11, 2015, 04:33 PM ISTMumbai: Indian equities slipped on the Greek crisis and fears of a Chinese market meltdown during the weekly trade ended July 10, as investor were reluctant to chase higher prices in a time of uncertainty.However,
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Crude oil prices shoot up after Saudi airstrikes in Yemen
Mar 26, 2015, 01:57 PM ISTNew Delhi: Crude oil price shot up today by nearly 6 per cent after Saudi Arabia and its Gulf Arab allies began airstrikes against Houthi rebel in Yemen.Brent crude oil futures rose to USD 59.71
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Leaking oil from ONGC well damages rabi crop over 100 acres
India | Feb 22, 2015, 10:40 PM ISTMachilipatnam: Gas and crude oil from an ONGC well leaked causing panic among farmers at Chinnapandraka village in Kruttivennu mandal of Krishna district today evening and damaging crop in more than hundred acres. Machilipatnam Revenue
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West Virginia train derailment sends oil tanker into river
World | Feb 17, 2015, 06:46 AM ISTMount Carbon, West Virginia: A train carrying more than 100 tankers of crude oil derailed in southern West Virginia on Monday, sending at least one into the Kanawha River, igniting at least 14 tankers and
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Budget 2015: Govt may restore customs duty on crude oil
Feb 05, 2015, 02:00 PM ISTNew Delhi: Finance Minister Arun Jaitley's much-anticipated Budget is expected to restore customs duty on the crude oil. The move will give the exchequer around Rs 14,000 crore the next financial year.The extra money will
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The Rajan behind the unscheduled rate cut
Jan 18, 2015, 08:00 AM ISTNew Delhi: Weeks ahead of schedule, Reserve Bank of India (RBI) Governor Raghuram Rajan cut interest rates for the first time in almost two years on the day data showed the December trade deficit had
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Oil prices drip down to $45 per barrel, lowest in six years
Jan 14, 2015, 12:15 PM ISTNew Delhi: Bringing yet more smiles on the faces of consumers, global oil prices have slid to a low of $45 a barrel on Tuesday, lowest in last six years. Although the news about crude
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Oil prices dip to 5.5-year lows, hampered by oversupplies
Jan 13, 2015, 09:30 AM ISTNew Delhi: Oil prices on Monday tumbled to fresh 5.5-year lows under $49 per barrel. The fall comes amid US investment bank Goldman Sachs cutting its price outlook and the ongoing global crude supply glut.Brent
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Goldman Sachs says oil prices could fall to $30s
Jan 12, 2015, 06:07 PM ISTNew Delhi: US investment bank Goldman Sachs has slashed its short-term forecast for crude oil and expects it to fall to around $30 per barrel mark.Analysts at Goldman Sachs cut their three-month forecasts for Brent
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Petrol prices likely to be cut by Rs 1.50 this week
Nov 11, 2014, 09:49 AM ISTNew Delhi: In a major relief for the common man, petrol prices may be cut by Rs 1.50 per litre this week.If this happens, it would be the seventh reduction in a row since the
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More petrol, diesel prices cut likely as crude dips to $80 a barrel
Nov 05, 2014, 09:42 AM ISTNew Delhi: Following the recent multiple reductions in petrol rates and deregulation of diesel prices last month, fuel consumers can look forward to more price cuts as Brent crude oil on Tuesday fell to its
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Petrol, diesel prices likely to be cut once again
Oct 30, 2014, 10:49 AM ISTNew Delhi: In yet another effort to contain the rising inflation, the government is expected to announce reduction in the cost of petrol and diesel.Sources said that Rs 1.5 to 2 deduction is expected in
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OVL's crude oil output jumps 26% in 2013-14
Apr 20, 2014, 07:52 PM ISTNew Delhi: ONGC Videsh Ltd, the overseas arm of state-owned Oil and Natural Gas Corp (ONGC), has reported a 26% jump in crude oil production in 2013-14 as recent acquisitions offset a natural decline in
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Nearly 80% of India's crude oil needs imported
Aug 27, 2013, 04:32 PM ISTNew Delhi: Almost 79 per cent of India's crude oil requirements have to be imported, Petroleum Minister M. Veerappa Moily said Tuesday.In a written reply in parliament, Moily said the estimated demand for 2013-14 of
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Iran Supply Disruption May Push Crude Oil Prices By 30 Per Cent, Says IMF
Mar 20, 2012, 07:51 PM ISTNew Delhi, Mar 20: IMF chief Christine Lagarde today cautioned that supply disruptions from Iran could push global crude prices by up to 30 per cent, at a time when the price is hovering at