Stock market ends in green, indices recover over 1%
The Indian Stock Market on Wednesday ended higher after staging a sharp recovery from deep morning losses, supported by strong gains in select names.
The Indian Stock Market on Wednesday ended higher after staging a sharp recovery from deep morning losses, supported by strong gains in select names.
UAE’s decision to exit OPEC could reshape oil supply dynamics, opening room for India to secure better prices, reduce costs and strengthen long-term energy partnerships.
When the United States Treasury Department authorises the sale of oil from Iran while simultaneously prosecuting a conflict against it, policy ceases to be doctrine and becomes improvisation.
The global electric vehicle (EV) fleet avoided the consumption of 1.7 million barrels per day of oil in 2025 — nearly matching the 2.4 million barrels per day exported by Iran through the Strait of Hormuz — according to new analysis by global energy think tank Ember.
In the twentieth century, the Gulf’s strategic relevance was distilled into a simple equation: oil in exchange for global influence and security guarantees.
According to a rough estimate, the high crude oil price and less production of domestic crude oil price is going to increase crude oil import bill by around 20 %, and it would increase further in the fiscal year 2021-22 if the Russia-Ukraine tension continues.
For example, an energy crisis in winter could be a disaster for Germany, and fear of it may weaken German willingness to act against Russia. A recent example of potential German softness toward Russia can be seen in German Chancellor Olaf Scholz’s failure to endorse stopping the Nord Stream 2 pipeline as a potential sanction for an invasion.
Presently, more than 85 % of its oil needs and half of its gas requirements are met through import. Government has already managed to double its acreage through seven rounds of auction of oil acreage under the New Open Acreage Licensing Policy (OALP), the Minister said.
Noting that India is the world’s third largest consumer of crude oil and yet import-dependent for more than 80 percent of its needs, Naidu underlined the importance of increasing production, not only to save foreign exchange but also to ensure energy security.
Record coal and gas prices, as well as rolling black-outs are prompting the power sector and energy-intensive industries to turn to oil, which has pushed up global oil demand
