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Saudi Arabia raises June Arab light crude price to Asia

By : Sustainability ..., May 8, 2020

Saudi Arabia's state oil giant Aramco has raised the June price for its Arab light crude oil to Asia by $1.40 a barrel from May, setting it at a discount of $5.90 to the Oman/Dubai average, according to a document seen by Reuters on Thursday. The rise in the crude oil...

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OPEC+ agrees to cut world oil production

By : Sustainability ..., Apr 13, 2020

The oil-producing countries of the OPEC+ alliance have agreed to cut their crude production by some 9.7 million barrels per day (mbd) in an historic accord to stabilize world petroleum prices. "At the end of the telematic ministerial meeting of the OPEC+ members and those...

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BS-VI costs: Oil companies to raise rates by rupee 1 at one go in April

By : Sustainability ..., Jan 31, 2020

State-run fuel retailers will raise fuel prices by 50 paise to Re 1 per litre in one go from April to recover investments made for producing Bharat Stage-VI (BS-VI, akin to Euro-VI standard) petrol and diesel. “I don't think premium (for BS-VI fuels) will be large enough for...

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Fuel price hike aimed to boost public transport:Nirmala

By : Sustainability ..., Jul 8, 2019

As petrol and diesel price hike became effective Saturday onwards, leading to protests in some pockets, Finance Minister Nirmala Sitharaman said that the move to raise prices of transport fuel...

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