Oil Prices Decline on Fears of Economic Slowdown
On Tuesday, Oil prices edged lower on fears of an economic slowdown and lower fuel demand from China as it persists with its strict zero-COVID...
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Oil Drops on Fears of Global Recession, China COVID Burst
On Tuesday, oil prices dropped about 2 per cent, extending the previous session’s almost 2 per cent decline, as recession fears and a flare-up in...
Oil prices Slip as USD Strengthens, China’s Covid-19 Grief Reduces Demand
Oil prices fell on Tuesday to extend 2% losses in the previous session amid a stronger US dollar, and a rise in COVID-19 cases in...
Canada’s Exports Plunge in August as Crude Prices Drag
On Wednesday, Statistics Canada (Statscan) revealed that Canada’s exports dropped 2.9 per cent in August, largely driven by lower crude oil prices. Statistics Canada also...
Oil Climbs Nearly $4 as OPEC+ Weighs Largest Output Cut Since 2020
On Monday, oil prices climbed almost USD 4 as OPEC+ considers decreasing output by more than 1 million barrels per day (BPD) to buttress prices...
Oil Rises on Rebounding Chinese Demand
On Thursday, oil surged after sliding 1 per cent in the previous session on the prospect of higher Chinese demand and geopolitical risks. Brent crude...
India Gets Rs 35,000 Crore from Discounted Russian Crude
According to the Times of India, India has made nearly Rs 35,000 crore by importing Russian crude oil at a discount since the outbreak of...
Centre Reduces Windfall Tax on Oil to Rs 10,500 Per Tonne
Yesterday, the government increased the windfall tax on the sale of domestic crude oil by a sharp 21 per cent to Rs 10,500 a tonne....
To Resolve Refinery Crisis, Germany Seizes Rosneft’s Oil Assets from Russia
The Russian oil company Rosneft’s local activities will be taken over by the German government, further dividing the two nations due to Russia’s invasion of...
Germany to Seize Oil Assets of Russia’s Rosneft to End Refinery Crisis
The German government is likely to take over the local operations of the Russian oil company Rosneft. With this, the rupture between the two countries...