Oil prices in Asian trade rose on Monday due to optimism over tighter supplies and heightened uncertainty over the Russia-Ukraine war. OPEC+ agreed to raise production in October at a slower pace than in previous months, raising output by 137,000 barrels per day. Brent oil futures for November rose 0.6% to $65.90 a barrel, while…
India’s domestic crude oil production for the first ten months of the current fiscal year was 24.5 million metric tonnes, a slight decrease of 0.4% from the same time the previous year. Additionally, the output did not meet the goal of 25.1 for the April–January period. Out of this, ONGC’s production decreased by 3% to…
With the United States producing an expected 13.3 million barrels of crude oil per day, the price of crude oil fell by -1.39% to settle at 5943. Oil prices were further pressured by this increase in crude output, which was up 200,000 barrels per day from the previous week. The downward pressure was also fueled…
