SP Chandel - Stock Market News & Updates

2020 Russia–Saudi Arabia oil price war According to : -  wikipedia.org On 8 March 2020,  Saudi Arabia  initiated a  price war  with  Russia , triggering a major fall in the  price of oil , with US oil prices falling by 34%,  crude oil  falling by 26%, and  brent oil  falling by 24%.  The price war was triggered by a breakup in dialogue between the  Organization of the Petroleum Exporting Countries  and Russia over proposed oil production cuts in the midst of the  2019–20 coronavirus pandemic . Oil prices had already fallen 30% since the start of the year due to a drop in demand.  The price war is one of the major causes of the currently ongoing  global stock market crash . Beginning in 2014, U.S.  shale oil  production increased its market share; as other producers continued producing oil, prices crashed from above $114 per barrel in 2014 to about $27 in 2016. In September 2016, Saudi Arabia and Russia agreed to cooperate in managing the price of oil, creating an infor

Petrol  costs cut by 12 paise a liter, diesel decreases by 14 paise Oil in Delhi currently costs Rs 69.75 per liter, while diesel is estimated at Rs 62.44, as per a value warning of state-possessed oil firms Petroleum cost was on Sunday cut by 12 paise a liter and diesel rates by 14 paise as oil organizations directed rate decrease in the midst of the fall in worldwide costs to assimilate the climb in extract obligation on fuel by the administration. Petroleum in Delhi presently costs Rs 69.75 per liter, while diesel is estimated at Rs 62.44, as indicated by a value notice of state-claimed oil firms.  Delhi has the least fuel costs among metros due to bring down state charges. Industry sources said the decrease in rates would have been higher yet for the Rs 3 for each liter increment in extract obligation affected on Saturday. Oil organizations, they stated, had been directing decrease justified in retail costs fully expecting an extract obligation climb. The additions they in th

Oil Prices Fall Despite OPEC + Supply Cut spchandel.com - Oil costs fell on Friday in Asia even afterthe Organization of the Petroleum Exporting Countries (OPEC) and its partners consented to build yield cuts by almost half in mid 2020. U.S. Unrefined petroleum WTI Futures exchanged 0.3% lower to $58.27 by 12:29 AM ET (04:29 GMT). Universal Brent Oil Futures were down 0.4% to $63.15. OPEC+ consented to cut an extra 500,000 barrels for each day (bpd) of generation. Be that as it may, the move neglected to lift oil costs today as the slices would likely just last through the primary quarter of 2020. It is an a lot shorter time span than proposed by some OPEC pastors, who have called for broadening cuts until June or December 2020.  The "choice is by all accounts to a greater extent a housekeeping move that will limit the hole between their present objective and the over-consistence we have seen from the coalition," said Edward Moya senior market investigator at OANDA in