Price of oil

Tamil Nadu -First state to cut petrol price by Rs. 3/litre

Created: August 16, 2021

Tamil Nadu has become the first state in India to cut the petrol price in fiscal year 2021-22 by Rs 3/litre, providing a major relief to consumers. Key Points Price cut was announced by State Finance Minister Palanivel Thiagarajan during ..

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Emerging economies more vulnerable to big oil price moves: Nomura report

Created: September 18, 2019

The Japanese financial services major Nomura has analysed the impact of the twin drone attacks which targeted Abqaiq, the site of the largest oil processing plant run by the Saudi state oil company, Aramco, and the Khurais oilfield. The attacks ..

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Joint Comprehensive Plan of Action

Created: May 21, 2018

Joint Comprehensive Plan of Action or JCPOA is an agreement of China, France, Germany, Russia, the UK, the US and the European Union (EU) with Iran signed in 2015. Features of the pact: As per the agreement, Iran agreed to make ..

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CPI Inflation eases to two-year low

Created: December 13, 2016

The annual Consumer Price Index has cooled-off to two-year low of 3.63%, its lowest level in last 2 years. This has been brought about by the sharp fall in food prices. The figure for October was 4.2%. This is the ..

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Oil prices hike by 5 percent

Created: December 13, 2016

Oil prices have increased more than 5 percent after the OPEC and non-OPEC producers came together to put curbs on oil production and ease global saturation. The step is being seen as the first joint action between oil producing nations ..

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Oil prices rise as OPEC agrees on output cuts

Created: November 30, 2016

The Organization of the Petroleum Exporting Countries (OPEC) has agreed to cut 1.2 million barrels of oil a day from its output to 32.5 million barrels beginning from January. This has lead to a surge in the global oil prices. ..

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