Oil pushed up by deepening OPEC supply cuts, sanctions on Venezuela

Oil pushed up by deepening OPEC supply cuts, sanctions on Venezuela

Oil prices rose on Wednesday as producer club OPEC said it had cut supply deeply in January and as U.S. sanctions hit Venezuela’s oil exports. U.S. West Texas Intermediate (WTI) crude oil futures were at $53.66 per barrel at 0530 GMT, up 56 cents, or 1.1 percent, from their last close.

India’s January inflation pace drops; RBI could cut rates again

India’s January inflation pace drops; RBI could cut rates again

Annual retail inflation in January rose 2.05 percent, its slowest pace since June 2017, government data showed on Tuesday. Economists in a Reuters poll predicted retail inflation would edge up to 2.48 percent in January from the downward revised December figure of 2.11 percent.

BPCL seeks LPG via term deal and spot gasoline in rare move

BPCL seeks LPG via term deal and spot gasoline in rare move

Indian Bharat Petroleum Corp Ltd is seeking liquefied petroleum gas (LPG) through a term contract and gasoline via a spot deal in a rare move as it looks to plug a supply gap, an industry source who tracks oil products said on Thursday.

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