In 2022, despite severe sanctions, Russia’s crude oil exports have been higher than the 2021 levels. While the European countries have continued to source their oil from Russia at levels recorded in 2021, exports were markedly higher to non-EU and non-G7 countries such as India. In just past months, India has imported from Russia more […]
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The Indian basket of crude oil on June 9 touched $121.28, matching levels seen in February-March 2012 The Indian basket of crude oil on June 9 touched $121.28, matching levels seen in February-March 2012 The basket of crude oil that India buys has hit a decade high of $121 per barrel, but retail selling prices […]
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As energy prices rise amid crippling sanctions against Russia, OPEC and its partners are under pressure to stabilise the market As energy prices rise amid crippling sanctions against Russia, OPEC and its partners are under pressure to stabilise the market OPEC Plus countries, an alliance between the Organization of the Petroleum Exporting Countries and other […]
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India depends on imports to meet 85% of its crude oil needs, and its ageing oil wells are a major hiccup in the country’s ambition to reduce import reliance India depends on imports to meet 85% of its crude oil needs, and its ageing oil wells are a major hiccup in the country’s ambition to […]
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Commercial LPG rates were reduced to ₹2,219 per 19-kg cylinder, from ₹2,354, the notification showed Commercial LPG rates were reduced to ₹2,219 per 19-kg cylinder, from ₹2,354, the notification showed Jet fuel prices on June 1 were cut by 1.3 per cent — the first reduction after 10 rounds of price hikes — on softening […]
Continue ReadingA surge in crude oil imports swelled India’s goods imports bill in April to $60.3 billion, a 31% growth, official data showed. With merchandise exports expanding 30.7% to $40.19 billion, the trade deficit widened last month to $20.11 billion, from March’s $18.5 billion. Meanwhile, India’s crude oil imports hit a record high in April, surpassing […]
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