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Oil stocks show mix reactions to OPEC+ production cut; HPCL, BPCL down 4-5%

Oil stocks are in focus after several OPEC+ countries, led by Saudi Arabia, announced voluntary cuts from May 2023 to end-2023 of nearly 1.1mb/d. Oil market is expected to get tighter after the OPEC+ output cut couple with higher oil prices. Indian OMCs are seen likely to be under pressure. ....

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Oil sinks further below $100 as recession risk spooks market

Oil posted another sharp decline as US trading commenced with Covid-19 flare ups adding to concerns about a global economic slowdown. ....

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Here's how surging oil prices shift the economic outlook in Asia

Oil’s relentless surge above $125 a barrel threatens to stoke inflation across Asia, forcing central banks to decide whether to respond to higher prices with tighter policy, or hold off amid the blow to economic growth. ....

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Ukraine crisis: Oil prices jump over potential supply disruptions

Concerns over tightening supplies drove prices higher as peace talks between Russia and Ukraine ended with officials heading back to capitals for further consultation, suggesting conflict resolution is not imminent. ....

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Oil prices reach new highs; Brent crude reaches $85.89 per barrel

Brent crude oil futures rose 87 cents, or 1%, to $85.89 a barrel by 0111 GMT, the highest price since October 2018. ....

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