india

Oil prices increase as Saudi Arabia slows drilling activity

Oil extended gains above $54 a barrel after drilling activity slowed in the world’s biggest producer, while the top two crude exporters agreed to try and keep global markets in balance. Futures rose 0.5% in New York after jumping 2.7% Friday. The number of US working rigs fell to the least since February 2018 last […]

world

Venezuelan soldiers oversee fuel rationing in some towns amid shortages

Venezuela, whose economy is reeling from a five-year recession amid a prolonged political crisis, saw long lines of vehicles appear at services stations in several regions this week after a shutdown at the OPEC nation's second-largest refinery. Soldiers oversaw rationing of gasoline at service stations in several parts of Venezuela on Sunday as worsening fuel […]

world

After Venezuelan troops block aid, Maduro faces ‘diplomatic siege’

Pence is set to announce "concrete steps" and "clear actions" at the meeting to address the crisis, a senior US administration official said on Sunday, declining to provide details. Venezuelan President Nicolas Maduro faced growing regional pressure on Sunday after his troops repelled foreign aid convoys, with the United States threatening new sanctions and Brazil […]

india

Petrol prices down nearly 15% from record high levels

Petrol prices across the four metros have declined by nearly 15% from the record high levels they had reached in October. In Delhi, petrol was priced at Rs 70.70 per litre, lower by 14.64 per cent from the all-time high of Rs 82.83, recorded on October 16 and 17, data from the IndianOil Corp’s website […]

india

Oil edges higher after Russia indicates larger output cut

A Russian Energy Ministry source said Moscow was ready to contribute a cut of around 200,000 bpd, which is more than the 150,000 bpd sources previously said it would contribute. Benchmark Brent oil edged up on Friday after indications Russia would contribute a bigger output cut than previously suggested to an OPEC and non-OPEC deal, […]