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oil

News Reports

Russian oil still not sanctioned by US or EU, crude prices will reach USD 200 per barrel if India stops buying Russian oil: Sources

OpIndia Staff - 2 August, 2025

Global crude prices could jump to 200 US Dollars a barrel if India were to stop buying Russian Oil thus severely harming consumers worldwide, sources told ANI.

News Reports

Bangladesh faces price hikes and shortage in supply of cooking oil

OpIndia Staff - 7 February, 2025

Grocery stores across the country are facing a shortage of cooking oil including branded bottled oil and non-branded loose soybean oil. The shortage has resulted in hiked prices further adding to the problem.

News Reports

Naga Hoho urges Nagaland govt to resume oil exploration for economic benefit by signing pact with Assam over disputed areas

OpIndia Staff - 5 February, 2025

Naga Hoho lamented Nagaland’s financial losses from untapped petroleum resources, which could have funded infrastructure, healthcare & jobs.

News Reports

Zomato faces backlash over selling “analogue paneer” to restaurants, here is what it is and how restaurants are deceiving consumers

Shraddha Pandey - 23 October, 2024

Selling analogue paneer is legal in India as long as it is clearly labelled and sold as "analogue paneer" and not misrepresented as genuine paneer. However, it is prohibited to sell synthetic paneer without proper labelling.

News Reports

Saudi Arabia stops selling oil exclusively in US Dollar: As 50-year-old US-Saudi Petrodollar Agreement expires, new avenues expected in the global economy

Anurag - 13 June, 2024

Saudi Arabia has decided to not renew the petrodollar agreement signed in 1974, under which it sold oil exclusively in US Dollar

News Reports

Iran captures oil tanker ‘St Nikolas’ alias Suez Rajan in Gulf of Oman, the same ship US had taken from Iran a year ago...

OpIndia Staff - 12 January, 2024

The US has responded calling the act as unlawful. Pentagon said that Iranian forces unlawfully boarded the St Nikolas and forced it to change course towards the Iranian territorial waters

World

Attacks by Iran-backed Houthis in the Red Sea likely to drive up oil prices

OpIndia Staff - 19 December, 2023

The immediate consequence has already started to reflect in the form of a surge in the insurance costs for vessels transiting through the Suez Canal and the Red Sea.

News Reports