Saudi Aramco plans to start exporting the first condensate from its massive Jafurah unconventional gas plant in February, two sources familiar with the matter told Reuters on Tuesday.
Iran’s heavy crude oil price edged lower in November in line with other grades in the OPEC basket, the group’s latest monthly report showed.
The head of Iran’s parliamentary Energy Committee said diversifying the country’s fuel mix is essential and has been clearly outlined in the Seventh Five-Year Development Plan.
The Turkish Statistical Institute announced that the value of this country’s imports from Iran in the first ten months of 2025 increased by four percent compared to the same period last year, reaching $2.035 billion.
India boosted Russian crude imports to €2.6 billion in November, reinforcing its role as Moscow’s second-largest buyer and channeling discounted oil into rising exports to Australia and sanction-hit Western markets.
Brent crude futures rose 43 cents, or 0.70%, to $61.71 per barrel. U.S. West Texas Intermediate (WTI) crude futures also gained 43 cents, or 0.75%, settling at $58.03 per barrel.
India has unleashed the ORD Act of 2025, a sweeping deregulation drive to cut red tape, attract global investors, and turbocharge upstream oil and gas exploration in one of the world’s fastest-growing energy markets.
The CEO of Pars Oil and Gas Company said the company has set a new record by producing 722 million cubic meters of rich gas per day from the shared South Pars field — an increase of 6 million cubic meters compared with last winter.
OPEC’s crude oil production fell by 1,000 barrels per day in November, reaching 28.48 million barrels per day, according to the organization’s latest monthly report issued in December 2025.
Brent crude futures tumbled $0.73, or 1.19%, to settle at $61.47 a barrel on Wednesday, extending a slump in global oil markets. The U.S. benchmark West Texas Intermediate (WTI) crude followed suit, shedding $0.77, or 1.40%, to $57.64 a barrel.
Asian buyers are forcing Venezuelan oil exporters into record discounts amid competition from cheap sanctioned Russian and Iranian crude, while U.S. military activity in the Caribbean heightens risks for shipments from Venezuela’s ports.
Indian refiners, except Reliance Industries, are continuing to purchase discounted non‑sanctioned Russian crude, with four of the seven largest processors involved, and imports expected to persist at reduced levels into next year due to attractive pricing.
Today is the ninth anniversary of the OPEC+ Declaration of Cooperation, signed in Vienna on December 10, 2016, which reshaped global energy markets through unprecedented collaboration between OPEC and non-OPEC producers.
Iran’s 14th administration has rolled out coordinated fuel and vehicle initiatives to reduce emissions and improve urban air quality.
Brent crude futures rose by 19 cents (+0.3%) to $62.13 per barrel. U.S. West Texas Intermediate (WTI) futures also gained 19 cents (+0.3%), reaching $58.44 per barrel.
Adam Waterous, a 64‑year‑old Canadian financier, aims to transform Strathcona Resources into a North American energy powerhouse by more than doubling crude output to 300,000 barrels per day by 2035.
India’s state-owned oil behemoth, Indian Oil Corp (IOC), has kicked off a tender hunt for a liquefied natural gas (LNG) cargo slated for January delivery, according to two insiders in the energy trade.
PGPIC’s CEO announced that research and development boosted production by 7%, adding 590 trillion rials in revenue while reducing costs by 180 trillion rials.
Brent crude oil fell by 7 cents, or 0.1%, to $62.42 per barrel. U.S. West Texas Intermediate crude declined by 13 cents, or 0.2%, to $58.75 per barrel.
The Kremlin stated on Monday that India will continue to purchase oil from any source that offers the most commercially advantageous terms, underscoring New Delhi’s pragmatic approach to energy security.
