Sunday, January 17, 2021 05:37:01
OIB News
No Result
View All Result
  • Business
  • Entertainment
    • Bollywood
    • Hollywood
    • Celebrity
    • Videos
  • Countries
    • India
    • US
    • UK
    • Africa
  • हिंदी समाचार
    • राजनीति न्यूज़
    • व्यापार
    • स्वास्थ्य
    • क्रिकेट
    • ज़रा हटके
    • बॉलीवुड
  • Sports
  • Global News
  • Gadgets
  • Others
    • Tech
      • Gaming
      • AutoMobile
  • Login
  • Register
OIB News

Fall of oil markets

alt='oil refinery'

“April is expected to be the bleakest month for the industry, with demand set to plummet by 29 million barrels a day compared with the same month last year,” says International Energy Agency. Due to the coronavirus pandemic situation going on all across the globe demand for oil has decreased drastically from past few months.

US crude oil recorded a price of$10.96 per barrel, which is the lowest price ever recorded. Oil market is currently undergoing a situation called contango. Contango, also sometimes called forwarding, is a situation where the futures price of a commodity is higher than the spot price of the contract today.

You Might like

FB cross-platform feature arrived in India; Messenger and Instagram changed

October 27, 2020

Apple released iOS 14.1 update, comes with these features and improvements

October 21, 2020

“Stepping away from a destructive price war, the return to market management by Saudi Arabia and Russia backed by the United States and a very involved President Trump, marks a physical and psychological inflexion point for the oil market,” says Roger Diwan, vice president, financial services,  of IHS Markit.

This situation is an advantage for India. It is the perfect time to invest in the Indian Strategic Petroleum Reserves (ISPR) programme, which would have been very costly earlier. In India, the demand for transport fuel has decreased but a simultaneous increase in demand for domestic fuel is recorded as people stay at home during the lockdown.

“National Policy on Biofuels, 2018 under Para 5.3 inter-alia envisages that during an agriculture crop year when there is projected oversupply of food grains as anticipated by the Ministry of Agriculture & Farmers Welfare, the policy will allow conversion of these surplus quantities of food grains to ethanol, based on the approval of National Biofuel Coordination Committee (NBCC),” says the government.

Share this:

  • Twitter
  • Facebook
  • LinkedIn
  • Pocket
  • Pinterest
  • WhatsApp
  • Email

Like this:

Like Loading...
Previous Post

Infosys measures to control cost due to covid19

Next Post

Construction of Bridge in Arunachal Pradesh

Mahek Rathore

Mahek Rathore

Comments Cancel reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Latest Updates

“एक राष्ट्र, एक चुनाव” के लाभों पर गौरव भाटिया ने एक वेबिनार की मेजबानी

December 30, 2020

नेताजी बोस की जयंती पर पश्चिम बंगाल जाएंगे पीएम मोदी

December 30, 2020
ADVERTISEMENT

Related Posts

World

China unmasked in Afghanistan, the pressure to apologize increased

by Shruti Gilra
December 25, 2020
0

A Chinese group running a terrorist cell in Afghanistan's capital Kabul has been busted. About 10 Chinese citizens were involved in...

Read more
Featured

‘Our vaccine is completely effective against Corona’s new strains’, claims Moderna

by Shruti Gilra
December 24, 2020
0

There is a worldwide fear of Corona's new strain in Britain and there are many questions in people's minds. American...

Read more
World

COVID-19: New Symptom of Corona! Be alert if such problems are happening in your teeth

by Shruti Gilra
November 29, 2020
0

Corona virus is also seeing bad effect on human teeth (Corona virus new symptoms). According to a New York Times report,...

Read more
World

America supports Tibet, says China has no religious basis to choose the next Dalai Lama

by Shruti Gilra
November 18, 2020
0

According to an American diplomat, China has no religious basis to choose the next Dalai Lama. He said that Buddhist followers...

Read more
ADVERTISEMENT

Premium Contents

syringe and pills on blue background

Covid-19 Vaccines: What Is Coming And When?

by Annu Kumari
September 3, 2020
0

This pandemic has changed everyone's lifestyle and affected people around the world. It not only made a difference in lifestyle...

photo of woman using earphones

How To Boost Stamina Naturally Post Lockdown; Follow these 3 Easiest Methods by expert

by Annu Kumari
September 1, 2020
0

This pandemic has changed everyone's lifestyle and affected people around the world. It not only made a difference in lifestyle...

turtle-underwater

Are Turtles in Danger amidst Covid-19? Special Report

by Aarunima Gupta
August 31, 2020
0

As nature emerges in human absence, due to the Covid19 pandemic, another narrative has emerged. This time about turtles. Reports...

Public speaking boosts the confidence of students.

by Prachi Goel
August 18, 2020
0

Public Speaking is an Essential ingredient in Personality Development and Career Excellence Many people feel that public speaking does not...

ADVERTISEMENT

Next Post
bridge

Construction of Bridge in Arunachal Pradesh

OIB News

We bring you the current news from India and around the world in a most simplified way. Read Latest News and Stories on your favorite categories from Business, Politics, Health, Lifestyle, Bollywood, Crime, Sports, etc.

Subscribe to Blog via Email

Enter your email address to subscribe to this blog and receive notifications of new posts by email.

Join 1,626 other subscribers

Category

Recent News

“एक राष्ट्र, एक चुनाव” के लाभों पर गौरव भाटिया ने एक वेबिनार की मेजबानी

December 30, 2020

नेताजी बोस की जयंती पर पश्चिम बंगाल जाएंगे पीएम मोदी

December 30, 2020
  • Submit News
  • Become A Partner
  • About Us
  • Privacy Policy

© 2020 OIB Media. Powered by Alsotech International Limited

No Result
View All Result
  • Business
  • Entertainment
    • Bollywood
    • Hollywood
    • Celebrity
    • Videos
  • Countries
    • India
    • US
    • UK
    • Africa
  • हिंदी समाचार
    • राजनीति न्यूज़
    • व्यापार
    • स्वास्थ्य
    • क्रिकेट
    • ज़रा हटके
    • बॉलीवुड
  • Sports
  • Global News
  • Gadgets
  • Others
    • Tech
      • Gaming
      • AutoMobile

© 2020 OIB Media. Powered by Alsotech International Limited

Welcome Back!

Sign In with Facebook
Sign In with Google
OR

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Apple Inc. 
$127.14  -1.37%  
Facebook, Inc. 
$251.36  2.33%  
Alphabet Inc. 
$1,736.19  -0.23%  
S&P 500 
$3,768.25  -0.72%  
Snap Inc. 
$50.31  2.61%  
Microsoft Corporation 
$212.65  -0.17%  
iPath Series B S&P GSCI Crude O 
$15.08  -2.67%  
Dow Jones Industrial Average 
$30,814.26  -0.57%  
Nasdaq, Inc. 
$140.04  -1.47%  
Boeing Company (The) 
$204.32  -2.66%  
SAMSUNG BIOLOGICS 
$804,000.00  -1.47%  
Berkshire Hathaway Inc. New 
$233.49  -0.65%  
General Electric Company 
$11.33  -2.83%  
NIKE DRN 
$749.20  1.65%  
loading Cancel
Post was not sent - check your email addresses!
Email check failed, please try again
Sorry, your blog cannot share posts by email.
%d bloggers like this: