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MCX Crude Oil price down on Monday

Crude oil futures chop down Friday, projecting a weekly decline amid concern that OPEC will curtail supplies. WTI light sweet crude oil was down 1.2%, to end at USD 52.37 per bbl. 114 more words

Investment Advisory

Power Outage Halts Output at Mexico's Tula Crude Refinery

Mexico’s second-biggest oil refinery was hit by a power outage that halted production, state oil company Pemex said on Saturday.

The Tula refinery in Hidalgo state that processes 315,000 barrels of crude a day suffered an electricity failure that the company was working to fix, a Pemex spokesman told Reuters. 73 more words

International

OPEC Deal To Cut Oil Production Raises Hopes Of Drain On Global Supply Glut

Oil Prices Hit 18-month High as Markets Eye Production Cuts

OPEC (ThisDay) — Crude oil prices Tuesday, the first trading day of 2017, hit an 18-month high, buoyed by hopes that a deal between the Organisation of Petroleum Exporting Countries (OPEC) and other exporters to cut production, which kicked in on Sunday, will drain a global supply glut . 407 more words

Oil & Gas

Stagnant Growth inspite of Surge in Brent Crude Prices?

Brent Crude prices have rallied sharply since the OPEC meeting on November 30th when oil quotas were agreed upon. However, after an 18% rally the oil prices have stagnated. 451 more words

Market & Economy Update

Does India really have to Worry about Rising Oil Prices?

The big story for the Indian economy over the last 2 years has been the dividends from cheap oil. Brent crude fell from a high of $114/bbl in mid-2014 to a low of $28/bbl in Feb 2016. 459 more words

Market & Economy Update

Will OPEC's Decision to Cut Production really Help Oil Prices to Move Up?

For the first time since 2008, the OPEC at its Vienna meeting on November 30th decided to put supply restrictions. In fact, the OPEC went one step ahead. 446 more words

Market & Economy Update