India plans to increase its refinery capacity from 256.8 MMTPA in 2024 to 310 MMTPA by 2028, with ethanol blending in petrol expected to reach 20% by 2025.
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The world price of crude oil today, November 26, 2024
Brent crude futures were up 53 cents, or 0.7%, at $73.54 a barrel as of 1231 GMT. U.S. West Texas Intermediate crude futures were at $69.46 a barrel, up 52 cents, or 0.75%.
Russia's crude oil exports by sea fell in the four weeks to November 24 compared to the previous four-week average by the steepest volume since July, amid lower shipments to India, tanker-tracking data monitored by Bloomberg showed on Tuesday.
The global price of crude oil today, November 25, 2024
Brent crude futures were down 0.23%, or 17 cents, to $75.00 a barrel by 1314 GMT, while U.S. West Texas Intermediate crude futures were at $71.01 a barrel, down 23 cents, or 0.32%.
Indian crude oil and condensate production dropped by four percent year-over-year in October 2024, reaching 2.3 million metric tons (MMT), according to recent data from the Petroleum Planning and Analysis Cell (PPAC).
India's domestic crude oil and condensate production fell by 4% YoY in October 2024, reaching 2.3 million metric tonnes, according to PPAC data.
In its latest short term energy outlook (STEO), which was released recently, the U.S. Energy Information Administration (EIA) said India has emerged as the leading source of growth in global oil consumption in its forecast.
Despite rising domestic production, India will increasingly rely on liquefied natural gas imports, especially from Qatar and the Middle East.
The world price of crude oil today, November 21, 2024
Brent crude futures rose $1.48, or 2.03%, to $74.29 by 1158 GMT. U.S. West Texas Intermediate crude futures rose $1.53, or 2.23%, to $70.28.
The world price of crude oil today, October 20, 2024
Brent crude futures increased by 0.3% to $73.53 a barrel in January, while U.S. West Texas Intermediate crude futures reached $69.70 due to expiry.
Oil India Limited and TotalEnergies signed a Technical Service Agreement in Paris on 18th November 2024 to collaborate on drilling stratigraphic wells in Indian Offshore waters.
The US-China Economic and Security Review Commission has called for a six-month study on China's indirect oil entry routes to protect the country from sanctions.
Global Crude Oil Price Today November 19, 2024
Brent crude futures were down 29 cents, or 0.4%, to $73.01 a barrel by 1240 GMT, while U.S. West Texas Intermediate crude futures slipped by 34 cents, or 0.5%, to $68.82.
India's oil product demand saw a 3% year-over-year increase in October, likely to continue in November due to higher vehicle sales and robust agricultural sector demand.
Global Crude Oil Price Today November 18, 2024
Brent crude futures were up $1.52, or 2.14%, to $72.56 a barrel at 1503 GMT, while U.S. West Texas Intermediate crude futures were at $68.41 a barrel, up $1.39 cents, or 2.07%.
President-elect Donald Trump's promise to slap an across-the-board tariff of at least 10 per cent on all imports including from Canada is unlikely to apply to Canadian oil, energy experts are predicting.
India is poised to lead the global hydrogen energy production and exports says Union minister for petroleum and natural gas Hardeep Singh Puri.
GAIL and Adnoc Gas have signed a 10-year Sales and Purchase Agreement for a long-term contract to purchase up to 0.52 million metric tonnes per annum of liquified natural gas.
India's Union Petroleum Minister, Hardeep Singh Puri, expressed optimism that increased oil production from US, Canada, and Brazil will stabilize global oil markets and reduce price volatility.
India's Petroleum Minister, Hardeep Singh Puri, expressed hope that increased oil production from western countries like the U.S. and Canada will stabilize markets and prices.