OPEC cuts oil demand forecast for 2024 due to weak intake from China

Aug 12, 2024

The Organization of the Petroleum Exporting Countries (OPEC) has slightly revised down global crude oil demand forecast for 2024, citing softer intake by China.

Goldman Sachs cuts Brent forecast to $80 as Hormuz reopening eases supply fears

Jun 17, 2026

Goldman Sachs has cut its Brent crude oil price forecast for the fourth quarter of 2026 to USD 80 per barrel from USD 90...

Duty reduction on crude edible oils beneficial for both refiners, consumers: CareEdge

Jun 22, 2025

On May 30, 2025, the government announced a reduction in the Basic Customs Duty (BCD) on key imported crude edible oils -- Crude Palm...

Industry body urges Centre to allow futures trading in crude palm, soybean oil

Nov 25, 2024

Edible oil industry body has once again requested the government to reconsider resuming futures trading in internationally traded commodities like crude palm oil and...

US oil output seen near record high in 2023, averaging 13Mln barrels daily: EIA

Mar 09, 2022

Washington [US], March 9 (ANI/Sputnik): US oil output is expected to return to a near record high averaging 13 million barrels daily by next...

Centre reduces standard rate of duty on edible oils

Sep 11, 2021

New Delhi [India], September 12 : The Centre on Saturday reduced the standard rate of duty on crude palm oil, crude soyabean oil to...