1. Video: Consumers across the country react to sudden hike in fuel prices

    After the prices of #petrol and #diesel hit an all-time high , the government is scrambling to contain the rising prices . Anger is running high among people across the country and opposition parties also took the NDA-led government to task on the issue . The government also hiked #exciseduties on fuels a dozen times in the past few years . Watch BusinessToday . In's video to find out how the #consumers . . .

  2. Oil nears $49 as brighter demand outlook sparks optimism

    #oilwire - #Oil climbed the most in a week as the #InternationalEnergyAgency and #OPEC improved their outlook for demand . #Futures gained as much as 1 . 8% in #NewYork . The IEA sees global oil demand rising this year by the most since 2015 , while OPEC boosted projections for consumption in #Europe and #China . Plus , the cartel and its allies are said to be considering an extension of their output-cut . . .

  3. Iraq, Iran boost oil exports in sales battle with Saudis

    #oilwire - #Iraq and #Iran boosted crude exports in September , taking advantage of a slower pace of shipments from rival #SaudiArabia to win buyers in key markets like #China and the #US . Iraq shipped 3 . 98 MMbopd , the highest since December , while Iran’s exports rose to 2 . 28 MMbopd , the most since February , according to ship-tracking data compiled by Bloomberg . Saudi Arabia’s exports were 6 . 6 . . .

  4. Crude slides into bear market as oversupply distress deepens

    #oilwire - #Oil entered the first bear market since #August as concerns worsen that #OPEC is failing to ease a global supply glut . West Texas Intermediate #WTI #crude , the #US benchmark , fell more than 20% from its highest close this year , meeting the common definition of a bear market . Futures settled at $43 . 23/bbl in #NewYork , down from $54 . 45 on Feb . 23 . Adding to an oversupplied market are #Li . . .

  5. Shale boom slows as investor enthusiasm for Permian fades

    #oilwire Oil explorers reduced rigs #drilling in U . S . oilfields this week , fueling optimism that a shale slowdown and OPEC production cuts will be enough to deflate a glut and strengthen crude prices . Shares of major shale producers , including #Pioneer #Natural #Resources Co . and EOG Resources Inc . , tumbled this week as investors began to lose confidence in the prolific #Permian basin . As the prod . . .

  6. Crude extends bull run as U.S. supply drops amid rising demand

    #oilwire - #Oil rose in a bull market after data showed a surprise decline in U . S . #crude stockpiles , taking #OPEC and its allies closer to a goal of reducing a global glut . #Futures added as much as 1 . 4% in #NewYork after rising 0 . 5% Wednesday . Crude inventories fell by 1 . 85 MMbbl last week after analysts surveyed by Bloomberg forecast an increase . U . S . exports jumped 61% to 1 . 49 MMbpd , the #EIA . . .