The Central Board of Indirect Taxes and Customs (CBIC) on Tuesday cut the windfall tax on crude oil production by about 36% to ₹4,100 a tonne amid softening global oil prices. Since 19 April, when the price was last revised, the windfall tax levied as...
6 months agoOil prices dropped on May 10, ending a three-day rally as an unexpected rise in US oil inventories sparked demand concerns and markets saw cautious trading as investors' anxiety as they await inflation data. Inflation data will help investors navigate Fe...
6 months agoAhead of the monthly oil report from the Organization of the Petroleum Exporting Countries (OPEC) which is due to be released on May 11, analysts claim that the oil market awaits clues on whether the group and its allies will need to cut output again to...
6 months agoOil prices declined on May 12, heading for a fourth weekly drop, as renewed economic concerns in the United States and China weighed on demand growth in the near-term, a potential trigger for greater volatility in oil markets. The fuel demand growth in t...
6 months ago