Minister of Foreign Affairs of Japan Motegi Toshimitsu on Wednesday welcomed the decision made by the International Energy Agency (IEA) to implement a collective release totaling 400 million barrels of oil by the member countries, a statement by Japan's Foreign Minister said.
A research note from UBS has flagged rising risks for India's state-owned oil marketing companies as crude oil market volatility intensifies due to geopolitical tensions in West Asia.
Indian stock indices recovered on Monday, though not entirely, after the Budget day nosedive, partly due to value buying and weakening global crude oil prices.
The report emphasised that these purchases, totalling an estimated 1.95 million barrels per day (b/d), were pivotal in averting potential chaos in the crude oil market and preventing a surge in prices by approximately USD 30-USD 40 per barrel.
Constrained supplies of milk and wheat, coupled with a volatile international crude oil market with OPEC+ countries deciding to cut crude oil production from May 2023 are factors that may, going forward, influence the inflation trajectory in India, Ministry of Finance's Monthly Economic R
Mumbai (Maharashtra) [India], Nov 2 (ANI): Despite a sharp fall in the price of crude oil, market indices on Friday have gained significantly backed by banking, automobiles, energy, and pharmaceutical sectors.