Oil Prices Current Affairs, GK & News

Wholesale Price Index, WPI of April 2021

The Department for Promotion of Industry and Internal Trade recently released Wholesale Price in India for the month of April 2021. The WPI for the month of April 2021 stood at 128.1. The base year in calculating WPI is fixed as 2011-12. WPI of April 2021 The annual rate of inflation for the month of ..

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Russia’s central bank increases interest rates

The Central Bank of Russia has increased the interest rate from 4.5% to 5%. Why did the Bank increase the interest rates? This is the second time the apex bank is increasing the interest rates due to elevated inflation pressure. According to the bank, the inflation in the country will be in the range of ..

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India’s Petroleum consumption contracts 9.1% in FY21

The Petroleum Planning and Analysis Cell operating under Ministry of Petroleum recently released a report on petroleum consumption of India. According to the report, fuel consumption of the country reduced by 9.1% in the year 2020-21 as compared to that of the previous year. This is the first time the petroleum consumption contracted to the ..

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Monthly Economic Review: March 2021

The Ministry of Finance recently released the Monthly Economic Review for March 2021. According to the report, the Indian Economy is recovering from COVID-19 crisis. The report has highlighted several indicators that prove economic recovery in the country. Key Findings of the report The Agricultural sector remains the bright spot of the Indian Economy. The ..

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Negative Oil Prices

The near term contracts from USA’s crude oil traded negative for the first time. A barrel was priced at minus 38 USD. Negative Prices A commodity can be priced negatively when the demand for it drops to such an extent that the suppliers have to pay people to take it off their hands. The crude ..

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