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Oil Prices Dip As Demand Concerns Loom Over US And China
Oil prices faced a setback on Monday, reversing their recent Friday rally, as mounting concerns about waning demand in both the United States and China took a toll on market sentiment. Brent crude futures for January dipped by 0.4%, down 35 ...
Crude Prices Surge After Saudi Arabia Pledges for More Output Cuts
The crude prices in the international markets witnessed an uptick after Saudi Arabia, the world's biggest oil producer announced its decision to cut down on the production volumes by another million barrels per day. Yesterday, the Organization of the Petroleum Exporting ...
Crude Prices Dwindle on Demand Fears and Robust Dollar
The crude prices in the international markets witnessed a slump of over 1 per cent on Friday's trade session. With this, the global crude rates are down for the third consecutive week as the market balances supply fears against the renewed ...
Oil Prices Rally 5% As OPEC Cuts Production
Oil prices soared as much as 5% at the open after OPEC+ announced it was slashing output by 1.16 million barrels per day. Brent Crude jumped 5.5% at $84.44 a barrel, while West Texas Intermediate (WTI) also rallied at 79.89 to ...
RIL Falls, ONGC Gains After Third Windfall Gains Tax Review
In its fortnightly review of windfall gains tax, the centre on Thursday (August 18) slashed the cess on domestically produced crude from Rs. 17,750 per tonne to Rs. 13,000 per tonne. The move shall be positive for upstream companies and the ...
Oil Prices Slip Below $100/bbl Amid A Host Of Factors
Oil prices slipped in trade today below the key $100 per barrel as a number of factors are weighing upon. First of all fresh and elevated worries around Covid and hence mobility curbs in China are weighing as China is the ...
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