Brent crude rose 48 cents, or 0.7 percent, to $70.63 a barrel. U.S. West Texas Intermediate crude rose 51 cents, or 0.8 percent, to $68.84 a barrel.
Oil markets are absorbing OPEC+ production increases without building inventories, which means they are thirsty for more oil, United Arab Emirates' Energy Minister Suhail al-Mazrouei said on Wednesday.
India plans to source about 10% of its cooking gas imports from the U.S. beginning in 2026 as part of a broader effort to boost energy purchases to narrow its trade gap with Washington, four industry refining sources familiar with the matter said.
Power plants in Iran consumed more than 2 billion cubic meters of natural gas last week, accounting for the largest share of the country’s total gas usage across three main sectors: power generation, major industries, and residential-commercial-minor industries.
Brent crude futures fell 23 cents, or 0.3 percent, to $69.35 a barrel. U.S. West Texas Intermediate crude fell 33 cents, or about 0.5 percent, to $67.60.
Minister of Petroleum and Natural Gas Hardeep Singh Puri said on Monday that the government is looking at various projects in Norway with an eye on expertise to upgrade and expand India’s energy capabilities.
NIDC's CEO prioritizes localizing key equipment and increasing domestically manufactured components in drilling projects, resulting in $7 million savings from the construction of its third domestically built rig.
Brent crude rose 36 cents, or 0.5 percent, to $68.66. U.S. West Texas Intermediate crude fell 1 cent to $66.99.
Petroleum and Natural Gas Minister Hardeep Singh Puri on Sunday said India has never faced a shortage of petroleum products, even during the Covid pandemic or global conflicts, crediting the government’s foresight for ensuring uninterrupted supplies.
Referring to the government's policy of developing solar power plants in the country, the director of the engineering office of the Iranian Water and Power Resources Development Management Company said: "Based on this, the construction of solar power plants next to dams has been put on the agenda."
India’s Oil and Natural Gas Corporation (ONGC) has partnered with Mitsui O.S.K. Lines (MOL), Japan’s leading shipping company and one of the largest in the world, to build, own, and operate two Very Large Ethane Carriers (VLECs).
Russian natural gas exports to the EU saw a sharp month-over-month contraction of 18.3% in June, according to data compiled by Reuters. The drop was reportedly attributed to maintenance of the gas-pumping infrastructure.
OPEC+ agreed to increase production by 548,000 barrels per day in August, marking the first meeting since oil prices surged and then retreated following attacks on Iran.
A member of the Iranian Parliament's Energy Committee praised the Oil Ministry and NIORC for their timely and effective measures in meeting public gasoline needs.
Brent crude fell 35 cents, or 0.51 percent, to $68.45 a barrel, while U.S. West Texas Intermediate crude fell 25 cents, or 0.37 percent, to $66.75.
India’s Russian oil imports rose to an 11-month high in June, further cementing Moscow’s continued dominance in New Delhi’s oil import basket.
Saudi Arabia and Indonesia have signed agreements worth $27 billion, covering clean energy, petrochemical industries, and aviation fuel services, during Indonesian President Prabowo Subianto's visit to the Kingdom.
The Trump administration imposed new sanctions targeting Iran’s oil trade on Thursday as part of its maximum pressure campaign, the US Treasury Department announced.
India’s External Affairs Minister S. Jaishankar has said that New Delhi has raised concerns with U.S. Senator Lindsey Graham regarding a proposed bill that threatens to impose massive tariffs, up to 500%, on countries that continue importing oil from Russia.
Iranian energy minister announced that next week, three new packages, one conventional and two more technical models, will be unveiled for the construction of household solar power plants.
