India's crude oil imports in December soared to the highest levels in nearly three years to more than 5 million barrels per day; The Supreme Court has dismissed the homebuyers' plea against the threshold introduced in the Insolvency and Bankruptcy Code (IBC); Joe Biden, in his maiden address to the nation soon after being sworn in as the 46th President of the United States, would deliver a forward-looking speech built around the theme of unity. Watch this and more on News Blast.Also Read: US President Joe Biden to extend COVID-19 travel restrictions to Europe

India's oil imports reach 3-year high in Dec 2020 at 5 million bpd India's crude oil imports in December soared to the highest levels in nearly three years to more than 5 million barrels per day (bpd) as its refiners cranked up output to meet a rebound in fuel demand, data from trade sources showed. India's year-end rush for crude supplies coincided with stronger demand from north Asian buyers during winter, boosting prices and an accelerating de-stocking of floating storage globally. SC ...

Crude oil has been on an upswing because of Saudi Arabia's additional supply cuts and growing optimism around the launches of the various vaccines against COVID-19

India's year-end rush for crude supplies coincided with stronger demand from north Asian buyers during winter, boosting prices and an accelerating de-stocking of floating storage globally

Since January 6, petrol and diesel prices have increased Rs 1.49 and Rs 1.51, respectively, in Delhi

In Mumbai, petrol prices increased by 25 paise, taking Thursday's rate to Rs 91.32 a litre in the city. The highest level for petrol in Mumbai was on October 4, 2018, when it was Rs 91.34

The administration of US President Donald Trump also put curbs on PDVSA's main trading partners, the owners of tankers still transporting Venezuelan oil and on fuel supply to the gasoline-thirsty nation

Exports in December 2019 was $27.11 billion, while imports stood at $39.5 billion

For first half of the current fiscal, India recorded a current account surplus of 3.1 per cent of GDP as against a deficit of 1.6 per cent in H1 of FY20 on the back of a sharp contraction in the trade deficit

Exim Bank expects India's non-oil exports to witness a marginal positive annual growth in December quarter, after three consecutive quarters of contraction

For April-November period of the current fiscal, exports dropped by 17.76 per cent to $173.66 billion, while imports declined by 33.55 per cent to $215.69 billion, resulting in a trade deficit of $42 billion

India imported 618,468 tonnes of palm oil in November, down from 672,363 in the same month last year, the Solvent Extractors' Association of India said in a statement

Having deliberately opted out of the world's largest trade bloc, RCEP, India can now push for the limited trade deal with the US

Nepal and China jointly announced the new height of Mount Everest as 8,848.86 meters in a high-profile virtual ceremony

Angola is the third largest producer of diamonds in Africa and has only explored 40 per cent of the diamond-rich territory within the country, but has had difficulty in attracting foreign investment

Indo-China bilateral trade registered a 15 per cent decline at nearly $38 billion while trade with the US dropped 27.5 per cent at $33.54 billion. Like China, India's bilateral trade with Hong Kong has also suffered -- declining by 25.7 per cent at $11.2 billion

The Organization of the Petroleum Exporting Countries, Russia and allies, a group known as OPEC+, had previously been expected to extend existing oil cuts of 7.7 million barrels per day (bpd), or 8% of global supplies, until at least March

The passage of the Fairness for High-Skilled Immigrants Act by the Senate on Wednesday comes as a big relief to Indian IT professionals who come to the US on H-1B work visas

Oil Minister Dharmendra Pradhan said an estimated investment of $66 billion is lined up in developing gas infrastructure, which includes pipelines, city gas distribution, and LNG regasification terminals

The farmers' agitation seems to be garnering support as Rajasthan farmers belonging to Alwar district too have started showing solidarity by mobilising near the borders of Haryana.