India Business News: International oil prices rose after Opec and its allies ignored India's plea to ease production control, with Saudi Arabia asking New Delhi to instead
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The average cost of that crude purchase was USD 19 per barrel
Excise duty was raised by Rs 13 and Rs 16 per litre on petrol and diesel between March 2020 and May 2020
New Delhi: International oil prices rose after OPEC and its allies ignored India s plea to ease production control, with Saudi Arabia asking New Delhi to instead use oil it bought at rock bottom rates last year.
Brent crude, the most widely used benchmark, on Friday rose nearly 1 per cent to USD 67.44 a barrel after the Organization of the Petroleum Exporting Countries (OPEC) and its allies, a group known as OPEC+, agreed not to increase supplies in April awaiting more substantial recovery in demand.
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India s Oil Minister Dharmendra Pradhan had in the run-up to Thursday s OPEC meeting urged the producers group to ease production curbs to fulfil their promise of stable oil prices.