World crude oil price today, April 15, 2025
Brent crude futures were down 50 cents, or 0.8%, at $64.38 per barrel by 1005 GMT. U.S. West Texas Intermediate crude also dipped 50 cents, or 0.8%, to $61.03 a barrel.
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The average price of India's crude oil imports fell to below $70 per barrel this month, for the first time since 2021, as international benchmarks plunged amid trade and tariff uncertainty.
World crude oil prices today, April 14, 2025
Brent crude futures rose by 83 cents, or 1.3%, to $65.59 a barrel by 1200 GMT. U.S. West Texas Intermediate crude was up 84 cents, or 1.4%, at $62.34.
OPEC reduced its 2025 global oil demand growth forecast due to first quarter data, US trade tariffs, and reduced economic growth forecasts for this year and next.
India's state-run gas utility, GAIL, is seeking a 26% stake in a US LNG project and a 15-year gas sourcing contract amid ongoing tariff talks.
Indian national Jugwinder Singh Brar owns multiple shipping companies with nearly 30 vessels, many of which operate as part of Iran's "shadow fleet," according to the US Department of the Treasury's Office of Foreign Assets Control.
Saudi Armco rekindled interest in India's refinery plans, despite setbacks, as Bharat Petroleum Corp. and Oil and Natural Gas Corp.'s strategic move opens another opportunity.
The US on Thursday imposed new sanctions on entities and vessels linked to Iran’s oil industry, stepping up pressure on Tehran just days before talks between the two countries in Oman.
President Trump’s trade war has triggered a drop in oil prices, giving Saudi Arabia a narrow chance to reassert control over OPEC+ and discipline non-compliant producers. However, Riyadh faces limits in sustaining a price war due to its economic reliance on high oil prices and growing internal alliance tensions.
Indian Oil Corporation plans to invest ₹61,000 crore in a petrochemical complex in Odisha, following a preliminary agreement with the Odisha government.
India is raising the excise duty on gasoline and diesel effective April 8, the government said on Monday, but noted that the increase in the excise duty would not be felt at the pump.
Saudi Arabia, the world's top oil exporter, on Sunday slashed crude oil prices for Asian buyers in May to their lowest in four months, following a recent shock decision by the OPEC+ oil group to speed up oil output hikes.
India and the United Arab Emirates agreed to develop an energy hub in Sri Lanka, India's foreign ministry said on Saturday, as New Delhi's competition with China grows in the Indian Ocean island nation.
India’s crude imports from the US reached 244,000 barrels per day (bpd) in March, up from 146,000 bpd in February.
The eight OPEC+ countries, which previously announced additional voluntary adjustments in April and November 2023, namely Saudi Arabia, Russia, Iraq, UAE, Kuwait, Kazakhstan, Algeria, and Oman met virtually on April 3, 2025, to review global market conditions and outlook.
US tariffs on India's energy sector are not just geopolitical but also a complex legal issue affecting corporates, causing increased legal discourse across the industry supply chain.
Canada's Trans Mountain oil pipeline has revised its oil flow forecasts for the next three years due to slower usage of the newly expanded pipeline.
India's crude oil imports from the US surged by 67% in March, driven by a surge in Indian refiners replacing Russian volumes and US pressure for increased American energy purchases.
Indian oil refiners have started looking for alternative supplies of crude after President Trump threatened secondary sanctions on Russian energy exports if Moscow refuses to sign a ceasefire deal for the Ukraine.
India raised gas prices by nearly 4% in April to $6.75 per million metric British thermal units, up from $6.50 per mmBtu in the previous month.