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'Fuel prices up due to higher import cost of crude oil'
According to estimates, India imports over 80% of its oil needs and more than 50% of its gas requirement
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Global players may form consortium to bid for BPCL
Some global oil majors or Middle East producers may be teaming up with investment funds already in the race
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Key factors that may guide D-St this week
Trend in global stock markets, progress of monsoon, the movement of rupee against the dollar and crude oil prices will dictate the trend on the bourse
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Gold may touch Rs 52k, silver Rs 75k in next three months
Gold prices have witnessed a bounce back from the lows of $1,750 to $1,830 per troy ounce now in the international market
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OPEC+ move: What does it mean for petrol, diesel prices?
OPEC+ last year decided to withdraw 9.7 million barrels per day (bpd) from the market amid a pandemic-induced slump in demand
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OPEC+ meet called off: Will it impact fuel prices in India?
A failure to resolve a rare standoff between the UAE and Saudi Arabia could push global crude oil prices up further
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OPEC+ summit could lead to a modest rise in oil output
The cost of crude oil has surged back to levels last seen in October 2018, which would normally support arguments in favour of boosting production.
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Eight core sectors’ output rises 16.8% in May
Output of eight core sectors grew by 16.8% in May, due to a low base effect and uptick in production of natural gas, refinery products, steel, cement
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WPI inflation hits all-time high of 12.94% in May
This is the fifth straight month of uptick in the WPI inflation
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Crude spikes on firm demand hopes, MCX Futures above Rs 5,200
World oil supply is expected to grow at a faster rate in 2022, with the US driving gains of 1.6 mb/d from producers outside the OPEC+ alliance.
