Oil Dilemma
India’s growing fuel demand and its call for increased oil output from OPEC+ reflect the country’s evolving energy needs.
India’s growing fuel demand and its call for increased oil output from OPEC+ reflect the country’s evolving energy needs.
The price of Brent crude had fallen to around $87 per barrel on Wednesday following higher US inventories and the decline in Chinese demand due to a slowing economy.
Oil prices steadied after falling sharply in the previous session, as concerns eased about shipping disruptions along the Red Sea route even as tensions in the Middle East continued to rise, media reports said.
Oil prices jumped by 4 per cent on Monday on concerns that the situation in Israel and Gaza could disrupt output from the Middle East.
Oil prices have soared about 20 per cent since late June but they could go even higher this year if…
As per the Indian Oil Corporation website, petrol prices in Delhi went up by Rs 75.25 a litre while diesel was selling at Rs 68.10 a litre,
The West Texas Intermediate for January delivery increased 1.57 US dollars to settle at 58.58 dollars a barrel on the New York Mercantile Exchange
The petrol rates in Delhi, Kolkata, Mumbai and Chennai were Rs 74.20/litre, Rs 76.89/litre, Rs 79.86/litre and Rs 77.13/litre respectively.
Petrol prices in Delhi, Kolkata, Mumbai and Chennai remained unchanged at Rs 73.30, Rs 76.00, Rs 78.97 and Rs 76.18 per litre, respectively.
On the Multi Commodity Exchange, crude oil prices for November delivery dropped by Rs 34, or 0.83 per cent, to Rs 4,042 per barrel.
