Diabytes
Crude Oil News
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Did you think Saudi Arabia or Iran produces the most crude oil? Think again! According to a 2023 report by the US Energy Information Administration, the United States is the world’s largest crude oil producer, pumping out 21.91 million barrels per day — far ahead of Saudi Arabia, Russia, and others.
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IndiGo’s shares went down by as much as 4.04 percent to Rs5,256 each, while SpiceJet’s shares fell 1.68 percent to Rs43.93 on the BSE.
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The subsidised domestic LPG cylinder is made available to more than 10.33 crore PM Ujjwala Yojana beneficiaries, across the country.
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Prime Minister Narendra Modi's "commitment is to make energy available round the clock in the most affordable manner, along with the transition to green energy", said Hardeep Singh Puri.
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The market outlook for next week will be guided by the Donald Trump factor, Q3 FY25 results, foreign institution investors (FIIs), rupee vs dollar and crude oil prices. Trump will be sworn in as the 47th US President on January 20, as investors keenly observe upcoming tariff announcements. The global market may remain volatile in the coming week, according to market watchers.
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The ongoing tensions highlight the importance of Iran's oil industry for maintaining stability in energy markets, especially during periods of political unrest or possible supply shortages.
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On the domestic equity market front, Sensex advanced 611.90 points, or 0.75 per cent, to close at 81,698.11 points. The Nifty rose 187.45 points, or 0.76 per cent, to 25,010.60 points.
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Media reports have stated that a 50-year longstanding Petrodollar deal between Saudi Arabia and the United States has lapsed in July. What does it mean? We explain.
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The government has reduced the windfall tax on domestically-produced crude oil to Rs 5,700 per tonne from Rs 5,700 which is effective from June 1, 2024.
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Crude oil remains flat -- Brent crude at $79 per barrel and WTI crude at $83 per barrel.
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Prime Minister Narendra Modi-led government has stood firm in maintaining its ties with Russia despite the Western sanctions against Moscow.
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Upstream oil exploration and production companies ONGC and Oil India Ltd stand to gain as they will have to pay a lower tax on their crude.
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India imports over 85 per cent of its crude oil requirement and a substantial spike in global oil prices could raise the country’s oil import bill.
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The discovery of oil in ONGC's Krishna Godavari basin concurs with dreams of India's mission for an 'Aatmanirbhar Bharat'.
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Sugar stocks too witnessed fresh buying due to improved domestic demand.
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Last week, the government cut the price of the domestic 14.2kg LPG cylinder by Rs 200/LPG cylinder for all 330 million consumers w.e.f. August 30.
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A Local Currency Settlement (LCS) system was established as a result of a Memorandum of Understanding (MoU) exchanged during PM Narendra Modi's visit to the UAE last month.
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As a result, the trade deficit rose to a five-month high of $22.1 billion. India has been consistently witnessing a trade deficit for many years now.
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The government raised the tax on the export of diesel to Re 1 per litre from Rs 0.50.
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