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On India protest, Opec keeps Asia price unchanged

Oil price defined tough year for BP and Shell

London’s two biggest oil companies are set to report their results for a year which has included a giant price war between Saudi Arabia, a drop in oil prices due to Covid and massive write-offs. In the beginning of 2020 all eyes were on the Organisation of the Petroleum Exporting Countries (Opec) whose agreement with Russia to artificially reduce supply and therefore push up oil prices came to a close. The two parties could not come up with a new agreement, and instead Russia and Saudi Arabia kicked off a production war, pushing down global prices. Brent crude, the international standard, had started the year on around 61 dollars per barrel, but dropped to 55 before January was out.

India to ink strategic partnership framework with IEA today

India inks pact with IEA to bolster its energy security Prices of major commodities such as crude oil surged in Q3.Premium 2 min read Share Via Read Full Story India signed a ‘strategic partnership framework’ on Wednesday with the International Energy Agency (IEA), the world’s premier energy monitor, further bolstering the country’s energy security and it’s cleaner fuel transition plans. The development comes at a time when international energy markets have been volatile and amid rising tensions between China and India, the world’s second- and third-largest crude oil importers. TRENDING STORIESSee All 4 min read Premium 2 min read

Petrol, Diesel Prices Touch Record High in Delhi, Mumbai Check Rates Here

Petrol, Diesel Prices Touch Record High in Delhi, Mumbai. Check Rates Here © Provided by News18 Petrol, Diesel Prices Touch Record High in Delhi, Mumbai. Check Rates Here The retail price of petrol touched a new high in Delhi on Wednesday with oil marketing companies (OMCs) raising the prices by 25 paise a litre to Rs 86.30. Similarly, prices of diesel also increased by 25 paise to Rs 76.48 a litre. In Mumbai, diesel prices were at a high of Rs 83.30 a litre, while petrol was seen at Rs 92.86 a litre, up 27 paise and 24 paise, respectively. Diesel prices had touched an all-time high of Rs 81.94 a litre in Delhi on July 20 last year.

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