If approved, the new prices will come into effect from May 1.
US oil falls below $11 as fund sells off holdings.
US benchmark West Texas Intermediate dropped 9.3 percent to $15.36 a barrel in Asian morning trade.
Oil prices jumped again Thursday on rising US-Iran tensions, lending support to equity markets.
Oil extends gains, but still under pressure from virus
Brent dropped 12.31 percent to $16.98 a barrel, extending heavy losses from a day earlier.
West Texas Intermediate for May delivery was changing hands at $1.10 a barrel.
We are filling up our national petroleum reserves... You know, the strategic reserves: Trump
Oil prices collapse on storage fears, Asia equities mixed
US crude crashed to below $15 a barrel on Monday, its lowest level for over two decades.
Oil markets tracked a rise in Asian stock markets and on Wall Street overnight.
Oil near 18-year lows on demand devastation warning
Oil rebounded in Asian trade Wednesday following sharp falls the day before.
US benchmark West Texas Intermediate rose nearly 2 percent to trade at $22.85.
Top oil producers Sunday agreed to slash output and shore up coronavirus-ravaged energy markets.
Top oil-producing countries agreed to record output cuts in order to boost plummeting oil prices.
Oil cartel OPEC announced that major producers had proposed to cut output between May and June.
G20 energy ministers pledged to work together to ensure oil "market stability".
Mexican Energy Minister Rocio Nahle tweeted that her country had suggested cut of 100,000 barrels.
Oil rises as top producers move towards deal
US benchmark West Texas Intermediate was up 5.7 percent to $24.98 a barrel in morning Asian trade.
International benchmark Brent crude was down 4.3 percent to trade at $32.64 per barrel.
OPEC oil producers and their allies will meet Monday via video conference.
Oil rebounded in Asian trade Thursday on hopes for a US intervention to end Saudi-Russia price war.
In early Asian trade, US benchmark West Texas Intermediate (WTI) was trading at $20.77 a barrel.
Oil prices plunged to an 18-year low as number of coronavirus cases worldwide surged past 750,000.
US benchmark West Texas Intermediate fell 3.9 percent to trade at $20 a barrel.
US benchmark West Texas Intermediate rose 2.3 percent to trade at $23 a barrel.
US benchmark West Texas Intermediate was down 1.5 percent, changing hands for about $24 a barrel.
International benchmark Brent crude was up 2.9 percent to trade at nearly $28 per barrel.
Prices have fallen in recent weeks as lockdowns and travel restrictions to fight virus hit demand.
Asia shares bounce after rout, rush for dollars causing stress.
Oil prices rebounded strongly Thursday a day after US crude hit its lowest level for 18 years.
Oil prices rebounded in Asian trade Wednesday from heavy losses.
Late Wall Street rally leads global stocks higher; oil also jumps.
Oil bounces 5% but set for biggest weekly thumping since 2008.
Pakistan Stock Exchange sheds over 1716.56 points.
Oil slumps as U.S. bans travel from Europe over pandemic.
Saudi to boost oil output capacity by 1 million barrels per day: Aramco.
West Texas Intermediate fluctuated between small losses and gains, with price around $34 a barrel.
Dollar gains Rs1.12 in interbank market, PSX recovers.
Oil prices surged more than six percent in Asian trade Tuesday following heavy losses a day earlier.
The Special Assistant said that benefits would become apparent within a month
Brent crude futures were down $13.29, or 29%, at $31.98 a barrel by 0433 GMT.
Oil plunged about 20 percent Monday after top exporter Saudi Arabia made deep price cuts.
Oil prices plunged 10% as the development revived fears of a 2014 price crash.
Brent futures LCOc1 had their its biggest daily percentage fall since December 2008, down $4.72.
Brent crude LCOc1 rose by 58 cents, or 1.12%, to $52.44 a barrel at 0212 GMT.
Brent crude LCOc1 was at $50.32 a barrel, up 65 cents, or 1.3%, by 0105 GMT.
Oil prices fall again, on track for biggest weekly drop in over 4 years.
Oil falls for fifth day on demand concerns as coronavirus spreads.
Oil rises on short-covering despite growing fears over coronavirus.
Brent crude fell by $1.42, or 2.4%, to $57.08 a barrel by 0552 GMT.
Brent crude futures LCOc1 rose 45 cents, or 0.8%, to $59.57 a barrel by 0208 GMT.
Brent crude LCOc1 was up by 6 cents at $57.81 a barrel by 0149 GMT.
Brent crude LCOc1 was at $57.30 a barrel, down 37 cents, or 0.6%, by 0126 GMT.
Brent crude LCOc1 was at $56.99 a barrel, down 33 cents by 0121 GMT after rising 5.2% last week.
Brent crude LCOc1 rose 98 cents, or 1.74%, to settle at $57.32 a barrel.
Brent crude LCOc1 rose 17 cents, or 0.3%, to $55.96 per barrel at 0217 GMT.
Brent crude LCOc1 rose 79 cents, or nearly 1.5%, to $54.06 a barrel by 0216 GMT.
Brent crude LCOc1 futures lost 46 cents, or 0.8%, to settle at $54.47 a barrel.
The HSD oil storage capacity was expanded from 1,222,283 MT to 1,342,251 MT.
Brent crude was at $54.66 a barrel by 0227 GMT, up 21 cents, or nearly 0.4%.
Brent LCOc1 was down 35 cents, or 0.6%, at $59.46 a barrel by 0225 GMT.
Brent crude LCOc1 rose 33 cents, or 0.6%, to $59.84 a barrel by 0103 GMT.
Brent crude LCOc1 was down 15 cents, or 0.3%, to $59.17 at around 0114 GMT.
The court is expected to either confirm or dismiss a 2018 ruling by a lower court.
Brent crude LCOc1 was down 13 cents, or 0.2%, at $64.46 a barrel at 0119 GMT.
Brent crude LCOc1 was trading down 30 cents, or 0.5%, at $64.90 per barrel by 0318 GMT.
Brent crude LCOc1 futures were up by 75 cents, or 1.2%, to $65.60 by 0109 GMT.
Brent LCOc1 was 33 cents, or 0.5%, higher at $64.33 a barrel by 0118 GMT.
Brent crude LCOc1 was down 21 cents, or 0.3%, at $64.28 per barrel by 0206 GMT.
Brent crude LCOc1 settled down 78 cents at $64.20 per barrel.
A U.S.-China trade deal is due to be signed in Washington on Wednesday.
Oil prices fall further as threat of Middle East war recedes.
Stocks, gold and oil whipsawed as Iran strikes spark fears of wider Mideast war.
Oil prices spiked up to 4.53 percent after Iran launched missile attacks on US forces in Iraq.
Any conflict and surging oil prices risk snuffing out the nascent global economic recovery.
Brent settled $2.35 higher at $68.60 after rising as high as $69.20.
Oil prices surge after US strike kills Iranian general.
Oil markets were closed on Wednesday for New Year's Day.
U.S. West Texas Intermediate (WTI) crude for February CLc1 was down 3 cents at $61.65.
Mass protests have gripped Iraq since Oct. 1.
Oil output in the Neutral Zone is divided equally between Saudi Arabia and Kuwait.
Brent crude was up 16 cents, or 0.2%, at $67.36 a barrel by 0155 GMT.
The Gulf neighbours halted production at the Khafji and Wafra fields.
Cooperation with the OPEC would continue "until the market requires it," Novak added.
An amount of Rs4.220 million has been provided to explore coal in Nosham and Bahlol areas.
Brent LCOc1 crude futures settled at $66.14 a barrel, down 40 cents, or 0.6%.
West Texas Intermediate (WTI) crude futures CLc1 fell 31 cents, or 0.51%, to $60.63 per barrel.
Brent crude oil futures LCOc1 had slipped by three cents to $65.31 a barrel by 0122 GMT.
Brent futures LCOc1 rose 24 cents, or 0.4% to $63.96 a barrel by 0242 GMT.
The site is run on electricity from land, supplied by a 160-kilometer (100-mile) underwater cable.
Brent futures LCOc1 fell by 37 cents, or 0.6%, to $63.97 per barrel by 0121 GMT.
Brent futures were down 11 cents, or 0.2%, at $64.14 per barrel by 0204 GMT
The storage capacity for both the MS and HSD oil increased from 1,712,691 MT to 1,936,550 MT.
OPEC+ has curbed supply since 2017 to counter booming output from the United States.
Brent crude LCOc1 futures were up 35 cents, or 0.6%, at $61.17 a barrel by 0246 GMT.
Brent futures LCOv1 rose 19 cents, or 0.3%, to $61.11 a barrel by 0218 GMT.
Brent crude futures rose 76 cents, or 1.3%, to $61.25 a barrel by 0415 GMT.
Euro 2 is quite hazardous for human health too besides proper functioning of vehicles' engines.
Brent crude futures were down 16 cents, or 0.3%, at $63.90 a barrel by 0141 GMT.
Under the strategy, a feasibility study has been started to set up the storage facilities.
International benchmark Brent crude futures LCOc1 dropped 19 cents, or 0.3%, to $64.08 a barrel.
Brent crude futures LCOc1 were down 1 cent at $63.64 at 0121 GMT.
West Texas Intermediate (WTI) crude CLc1 rose 10 cents, or 0.17% to $57.87 a barrel by 0220 GMT.
In October, the company discovered oil and gas reserves at its Exploratory Well Tog number 1.
Brent crude futures LCOc1 eased 58 cents to settle at $63.39 a barrel.
Brent crude futures LCOc1 fell 25 cents, or 0.4%, to $62.15 a barrel by 0138 GMT.
West Texas Intermediate crude futures CLc1 rose 11 cents, or 0.2%, to $55.32 a barrel by 0252 GMT.
U.S. West Texas Intermediate crude CLc1 was up 20 cents, or 0.4%, at $57.32 a barrel by 0111 GMT.
He was speaking at 4th Abu Dhabi International Petroleum Exhibition and Conference.
Brent crude futures LCOc1 edged down 16 cents, or 0.3%, to $61.90 a barrel by 0124 GMT.
Brent crude futures LCOc1 were flat at $61.74 a barrel by 0158 GMT.
Brent crude futures LCOc1 were at $62.73 a barrel by 0120 GMT, down 23 cents, or 0.4%.
Brent crude futures were up 4 cents at $62.17 a barrel at 0330 GMT after gaining 0.7%.
Brent crude futures for January LCOc1 fell 26 cents to $55.94 a barrel by 0125 GMT
Five underground water storage tanks are being constructed in different localities.
A view shows branded oil tanks at Saudi Aramco oil facility in Abqaiq, Saudi Arabia.
Brent crude futures were up 24 cents, or 0.4%, at $60.85 a barrel by 0221 GMT.
Brent crude LCOc1 was down 15 cents, or 0.2%, at $61.44 a barrel by 0118 GMT.
Brent LCOc1 futures were down 6 cents at $61.51 a barrel by 0311 GMT.
Brent crude was down 1 cent at $62.01 a barrel by 0055 GMT.
Pump jacks operate at sunset in Midland, Texas, U.S.
U.S. crude closed 3.3% higher in the previous session.
International benchmark Brent crude futures dropped 28 cents, to $59.42 a barrel by 0123 GMT.
Brent crude futures were at $59.10 a barrel by 0027 GMT, up 14 cents, or 0.2%.
A pumpjack is seen at the Sinopec-operated Shengli oil field in Dongying, Shandong province, China.
OGDCL drilled 16 new oil and gas wells including nine exploratory/appraisal and seven developments.
The sun sets behind an oil pump outside Saint-Fiacre, near Paris, France.
"We have no choice" but to invest in long-life projects, Shell CEO said.
Brent crude LCOc1 fell 47 cents, or 0.79%, to $58.88 a barrel by 0527 GMT.
"So traders are reluctant to push it further given those very strong gains."
Brent crude futures LCOc1 fell 27 cents, or 0.5%, to $57.97 a barrel by 0148 GMT.
Brent crude rose 39 cents, or 0.7%, to $58.74 a barrel by 0102 GMT.
Brent crude futures LCOc1 edged down 24 cents to $58.13 a barrel by 0147 GMT.
Steam is seen coming from the cooling towers at an oil refinery in Melbourne.
Additionally, it possesses working interest in six blocks operated by other E&P companies.
General view of the Fos-Lavera oil hub near Marseille, France.
If the summary is accepted, the petrol price will come down to Rs110.69 per litre.
Brent crude LCOc1 futures rose 9 cents to $62 a barrel by 0300 GMT.
Renewed high-level trade talks between Washington and Beijing are scheduled for next month.
The prices of petroleum products will be updated from October 1, 2019.
As many as six projects, investment initiatives and proposals in oil refining sector are in pipeline
Pumpjacks are seen during sunset at the Daqing oil field in Heilongjiang province, China.
Workers are seen at the damaged site of Saudi Aramco oil facility in Abqaiq, Saudi Arabia.
The US has ramped up sanctions on Tehran, targeting its central bank.
Oil rigs are seen at Vaca Muerta shale oil and gas drilling, in the Patagonian province of Neuquen.
U.S. West Texas Intermediate (WTI) crude CLc1 futures declined 35 cents, or 0.6%, to $58.99 a barrel
Saudi Aramco seeks to prepare for a share sale that would make it the world's largest listed company
Flames emerge from flare stacks at Nahr Bin Umar oil field, north of Basra, Iraq.
Crude prices took historic leaps as investors reacted to the loss of Saudi oil production capacity.
Analysts have expressed fear a significant hike in prices of gold, essential commodities etc.
The United States has more than 640 million barrels of oil in reserve.
Oil pours out of a spout from Edwin Drake's original 1859 well that launched the modern petroleum.
The given concession would also be applicable for new deep conversion oil refineries.
Gas flares from an oil production platform at the Soroush oil fields in the Persian Gulf.
Smoke is seen following a fire at Aramco facility in the eastern city of Abqaiq, Saudi Arabia.
Pumpjacks are seen during sunset at the Daqing oil field in Heilongjiang province, China.
Crude prices gained as the new Saudi oil minister signaled he would defend oil prices.
"His royal highness Prince Abdulaziz bin Salman is appointed minister of energy."
European benchmark Brent was selling at $61.54 per barrel on Friday.
Previous supply cuts have mostly succeeded in bolstering prices.
Brent crude was up 21 cents, or 0.4%, at $60.91 a barrel by 0301 GMT.
U.S. President Donald Trump said the sides would still meet for talks later this month.
The petrol price is expected to be reduced by Rs4.49 per litre.
Brent crude LCOc1 was down 30 cents, or 0.5%, at $60.19 a barrel by 0202 GMT.
Brent crude LCOc1 was up by 37 cents, or 0.6%, at $59.88 a barrel by 0220 GMT.
The well was drilled down to the depth of 3,200 meters.
Pump jacks operate at sunset in an oil field in Midland, Texas U.S.
WTI lost 1.3% for the week, while Brent rose 1.2% during the week.
Further, this new discovery will help to improve the energy security of the country.
A crude oil tanker is seen at Qingdao Port, Shandong province, China.
A pump jack operates in the Permian Basin oil and natural gas production area near Odessa, Texas.
Drilling rigs operate at sunset in Midland, Texas, U.S.
A man uses a mobile phone in front of an electronic board showing Japan's Nikkei average, Tokyo.
The Chinese products include laptops and cellphones. Tariffs had been scheduled to start next month
A view of an oil refinery off the coast of Singapore.
Pumpjacks are seen in Lagunillas, Ciudad Ojeda, in the state of Zulia, Venezuela.
A pump jack operates in the Permian Basin oil production area near Wink, Texas U.S.
The oil and gas reservoir was discovered in Pandhi area of Sanghar.
An oil pump is seen at sunset outside Vaudoy-en-Brie, near Paris, France.
Brent crude futures LCOc1 were down 5 cents, or 0.1%, at $66.96 a barrel.
Oil pumps are seen after sunset outside Vaudoy-en-Brie, near Paris, France.
Employers added 224,000 jobs last month, the most in five months, the report showed.
JX Nippon Oil & Energy Corp’s refinery is pictured in Yokohama, Japan.
The domestic production of crude oil remained 24.6 million barrels during the period.
Men walk past oil tanks at the plant of Liangyou Industry and Trade Co., Ltd in Qufu.
However, the new price of CNG in Punjab is Rs90 per liter with an increase of Rs4.
The Philadelphia Energy Solutions oil refinery is seen at sunset in Philadelphia.
Pumpjacks are seen against the setting sun at the Daqing oil field in Heilongjiang province, China.
JX Nippon Oil & Energy Corp's refinery is pictured in Yokohama, Japan.
The Odebrecht Oil and Gas drillship is seen in the Guanabara bay in Rio de Janeiro, Brazil.
Pump jacks pump oil at an oil field on the shores of the Caspian Sea in Baku, Azerbaijan.
A pump jack operates at a well site leased by Devon Energy Production Company near Guthrie, Oklahoma