Crude Oil - Looma News

Tarun Kapoor: It’s Time to Reevaluate Windfall Tax on Crude

Advisor to Prime Minister Tarun Kapoor said that the windfall tax on crude oil isn't very relevant right now. The Ministry of Petroleum has reached out to the Finance Ministry about possibly getting rid of the tax, especially since crude prices have dropped and the tax has been set to zero per tonne.

By Avi G

October 23, 2024

Politics / Business / Science

Crude Oil Futures Fell as Middle East Tensions Ease

Crude oil futures took a dip on Tuesday, thanks to reports that tensions in the Middle East are easing, especially around potential Israeli attacks on Iranian oil facilities. Brent futures slid to $75.13, while WTI dropped to $71.59. OPEC also cut its oil demand growth forecast for 2024, hinting at a possible slowdown.

By Avi G

October 15, 2024

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