The eurozone debt crisis, a Chinese slowdown and increased supply depressed oil prices in May but despite fears of a sharp drop, they still remain high and crimp growth, the IEA said on Wednesday.

Re

Brent crude prices fell below $98 a barrel to a 16-month low on Monday, pressured by fears of a global economic slowdown following weak U.S. and Chinese economic data.

Brent crude for July delivery d

Direct sale of dollars by the Reserve Bank of India to state-run oil companies should not be ruled out, the chief economic adviser to the prime minister said on Wednesday, after the rupee plunged to a

With rupee depreciation leading to jump in oil import bill, Petroleum Minister S. Jaipal Reddy on Tuesday said there is an immediate need to raise fuel prices, but refused to say when the hike will ac

Stating that India faces 'formidable' challenges on the energy front, Prime Minister Manmohan Singh on Saturday said spiralling international oil prices have put a strain on the country's import bill

India has held talks over exporting refined fuels to its neighbour Pakistan, the head of Hindustan Mittal Energy said on Saturday, at the opening of the company's new refinery close to the border betw

As UPA government desperately fights the perception of a policy paralysis, Finance Minister Pranab Mukherjee dismisses it with equal vehemence contending that the coalition was set on achieving hig

US President Barack Obama on Tuesday announced a plan to 'crack down' on speculation in the crude oil markets to put the brakes on the rise in gasoline prices.

"We can't afford a situation where spec

The International Monetary Fund (IMF) executive board has approved financial assistance of USD 987 million for Bangladesh, with immediate disbursement of USD 141 million.

The financial assistance und

Stressing that the government was committed to finding solutions for the issues facing the gas industry, Prime Minister Manmohan Singh on Friday said remunerative energy prices was needed to ensure