Brent crude for April touched an intraday high of $60.06 a barrel, the highest since January last year. The front-month contract was at $59.90 by 0728 GMT, up 56 cents, or 0.9%.
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The company had last year reached a peak production capacity of 1.2 million standard cubic meters per day in the Raniganj asset.
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Brent crude futures climbed 28 cents, or 0.5%, to $59.12 a barrel by 0730 GMT, after hitting a high of $59.41, its highest since Feb. 20 last year. Brent is on track to rise 6% this week.
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Brent crude futures gained 25 cents, or 0.43%, to $58.71 a barrel by 1025 GMT, having earlier hit their highest since Feb. 21 last year.
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Global crude oil prices rose to their highest in about a year this week as production cuts by the Organization of the Petroleum Exporting Countries and their allies including Russia tilted the market balance towards a deficit.
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Brent crude futures were up 48 cents, or 0.8%, to $57.94 a barrel at 0839 GMT, their highest since late February 2020.
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Refined soya oil contracts for March traded lower by Rs 11.4, or 1.03 per cent, at Rs 1,100 per 10 kg in 22,230 lots.
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IOC operates a pipeline network of 14,600 kilometres with a capacity to transport 94.42 million tonnes per annum of crude and fuels and 21.69 million cubic metres per day of gas.
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