EIA says price forecast “highly uncertain” due to Russia, but expects Brent crude to average $117/barrel in March

The U.S. Energy Information Administration (EIA) said in its latest short-term outlook report that it expects the Brent price ot average $117/b in March, $116/b in 2Q22, and $102/b in the second half of 2022 (2H22) and fall to $89/b in 2023, but the price forecast was “highly uncertain” due to the situation in Ukraine […]

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Crude falls, but no respite for fuel prices in India; petrol price in Mumbai cross Rs 107 a litre mark

On Friday, 16 July, crude oil prices headed for their biggest weekly drop since May this year as expectations of more supplies spooked investors. In India, however, the price of petrol and diesel touched record highs. Mumbai’s petrol cost is the highest across metro cities, standing at a staggering Rs 107.54 per litre. Diesel in the […]

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India’s fuel demand at 11-month high in December 2020; retail pices in January 2021 touching sky high

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India’s fuel demand rose for the fourth straight month in December 2020, but it was about 2 per cent lower than pre-COVID levels. The total demand for petroleum products in December 2020 fell to 18.59 million tonnes from 18.94 million tonnes a year back, according to provisional data published by the oil ministry’s Petroleum Planning […]

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