Govt extends restrictions on export of petrol, diesel
Refiners must sell at least 50% of annual volume of petrol exports, 30% of diesel exports in India; move to ensure availability of refined fuel in India
brent crude
April 2023
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Govt raises windfall tax on crude, diesel, aviation fuel
The tax rates are revised every fortnight based on prevailing international rates.
From CPI inflation to FPI trends: Five factors that may impact share market this week
A flurry of macroeconomic data including CPI, WPI, trade exports and imports, and trade deficit numbers will be released this week, which can set tone for Indian equities.
India to ignore the West, continue importing Russian crude to fight inflation
The country procures Russian oil at deep discount of around $15-20 a barrel.
Oil stocks up after OPEC+ agrees on deep crude output cut
Crude oil rises to nearly a three-week high; key oils stocks trade in positive territory as OPEC+ decides to cut output by 2 mn barrels/day.
Petrol, diesel prices to rise after OPEC oil production cut
OPEC Plus – a grouping of 23 oil-rich countries -- is meeting in Vienna on Wednesday to discuss a major production cut for the first time since March 2020.
Windfall tax on diesel, ATF cut; oil stocks rise
The Centre has reduced tax on domestically-produced crude oil to ₹10,500 per tonne from ₹13,300 per tonne; tax levy on diesel lowered to ₹10 per litre.
Crude prices fall below $100; here’s how oil stocks reacted
Adani Total Gas declined 4%, followed by Reliance Industries, HPCL, GAIL, and IGL, which dropped up to 2%
Reliance, ONGC, Adani Total fall up to 6% as crude prices slump
The Brent crude oil for August delivery dropped nearly 4% to $110 per barrel on Wednesday after U.S. President Biden announced plans to cut fuel costs.
Brent crude hits $124 per barrel as EU agrees to ban 90% of Russian oil
The European Council agreed to immediately cut 75% of Russian oil imports.
