Relook at oil prices possible: PM
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ABOARD PMâS AIRCRAFT: Prime Minister Manmohan Singh on Sunday appealed to the Left parties to realise that the hike in the prices of petroleum products had become unavoidable if the government wanted to execute social programmes for the poor as well as
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OPEC&#39;s president says the organisation&#39;s production levels are increasing to meet escalating demand, but he believes over-inflated prices can be brought down only by resolving global conflicts.
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JAKARTA - Opec is powerless to stop the rise in oil prices at the moment although it has about 1.5 million barrels per day (bpd) of spare capacity to add to supplies, president Purnomo Yusgiantoro said on Tuesday.
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British Prime Minister Tony Blair is attempting to win back political support by recalibrating his policy in the Middle East, but it is likely to prove too late to save his job.
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Prime Minister Manmohan Singh said on Sunday his government endorsed moves to restructure state oil firms to make them stronger and capable of competing with China in international markets.
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NEW DELHI: PM Manmohan Singh said on Saturday public sector companies and nationalised banks would be encouraged to enter the capital market to raise resources and offer new investment avenues to retail investors.
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VIENNA -- High and volatile crude costs may signal ``a new price era," a senior OPEC official said yesterday, insisting that the 11-nation cartel is doing all it can to bring prices down to more reasonable levels.
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Record oil prices are unlikely to  inflict the economic pain they did in the 1970s, Federal  Reserve Chairman Alan Greenspan said on Friday, adding that he  thought the world could adjust to higher-priced oil.
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New Delhi: The prices of petrol and diesel would remain unchanged for another fortnight with the Government directing oil companies to put on hold any plans for a hike.
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IndiaÂs prime minister warned that China had moved ahead in securing oil and natural gas supplies around the globe.
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Oil rose back to near $59 a barrel on Wednesday after Kuwait said it may join other OPEC countries in cutting output if prices continue their three-month slide.
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Oil prices surge to new highs in Asia and London amid concerns over winter fuel shortages.
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WORLD oil prices are weakening after OPEC president Purnomo Yusgiantoro said the organisation might have spare capacity of more than 1.5 million barrels a day.
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Prime Minister Manmohan Singh on Sunday described the decision to hike petroleum and LPG prices as a âpainful necessityâ and said that it had been done, keeping in mind the âtotality of circumstancesâ.
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Apparently heeding to the Left parties&#39; suggestion to wait for the outcome of the US presidential election which would have a sobering effect on international crude oil prices, petroleum minister Mani Shankar Aiyar told reporters in New Delhi &quot;prices are
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World oil prices ticked up from a three-month low on Monday as traders looked for OPEC to take action to stem a slide which knocked 14 percent off crude prices last week.
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World oil prices should remain next year around current levels and OPEC&#39;s existing price target band should be raised because it has failed to reflect the market, Venezuela&#39;s energy minister said on Sunday.