The Latest Breaking News from Oil

Broken lives

When renowned artist Pichai Pongsasaovapark was in Pattani, he was stunned to see large piles of scrap wood from decommissioned fishing boats that had been demolished by cranes. These scraps of wood were distributed to local villagers to be used as firewood for boiling anchovies.

Bangkok Post · Jul 5

OPEC+ Raises Output Target For August. Smooth Sailing Seen For Oil Price Trajectory

OPEC+ has agreed to a provide a significant boost to oil output by raising targets from August aimed to further add to global oil supplies after the Middle East conflict spurred prices to as high as $120 a barrel.

International Business Times · Jul 5

OPEC+ Agrees To Raise Output Even as Hormuz Shipping Security Remains Uncertain

OPEC+ members agreed to raise their collective oil‑production quotas from August even as crude shipments through the Strait of Hormuz remain uncertain.

Benzinga · Jul 5

Government raises ONGC chairman entry age to 59, offers up to five-year tenure

The government has broadened the eligibility for ONGC's next chairman, raising the maximum entry age to 59 and offering a three-year term extendable by two years. This move aims to widen the candidate pool for India's largest oil producer. The selection process will now involve a search-cum-selection committee, a departure…

The Economic Times · Jul 5

Will Sensex, Nifty continue to rally on Monday? Q1 earnings among 6 factors to drive Dalal Street this week

Sensex gained around 262 points to close at 77,764 on Friday, while Nifty 50 rose more than 95 points to end the session above 24,270 during Friday's trading session. The sharp gains added nearly Rs 44,155 crore to the total market capitalisation of all companies listed on BSE, pulling it…

The Economic Times · Jul 5

Make Ed Miliband chancellor, ex-chief Treasury adviser tells Andy Burnham

Nicholas Stern joins growing number backing Miliband, saying he has vision and experience to revive economy

The Guardian - UK · Jul 5

After E20 petrol, Nitin Gadkari pushes for 15% isobutanol-blended diesel: What it is and why it matters

India is set to embrace a new biofuel initiative, allowing up to 15% isobutanol blending with diesel. This strategic move aims to curb reliance on imported crude oil and promote cleaner energy alternatives. Isobutanol, derived from ethanol, offers superior properties over direct ethanol blending, making it a promising substitute for…

The Economic Times · Jul 5

India eyes oil exploration expansion after Middle East war shortages

In response to a critical energy supply crisis, India is ramping up its efforts in domestic crude exploration. The country, known for its reliance on oil imports, is set to unveil extensive uncharted regions for bidding. This initiative, named 'Samudra Manthan,' aims to enhance production levels in light of rising…

The Economic Times · Jul 5

OPEC+ tipped to raise quotas again as Middle East calms

Seven OPEC+ nations, including Saudi Arabia and Russia, are poised to increase oil production quotas for August, aiming to recover from disruptions caused by the Middle East war. Analysts predict a gradual return to normal output levels, though restarting shut-in production will take time.

The Economic Times · Jul 5

Your Oily Skin Is Not Broken: What the Indian Climate Is Actually Doing to Your Pores

The shine you were taught to be ashamed ofBy noon your face is gleaming. You press a tissue to your forehead and hold it up to the light. The translucent patch it leaves behind feels like evidence of something gone wrong, a body misbehaving in public. You reach for the…

Times Life · Jul 5