The United States has become the world's largest oil exporter, upending a decades-old order long dominated by Saudi Arabia and Russia, a shift that tightens American companies' grip on energy markets as Washington's war with Iran reshapes global energy trade.
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Saudi blue chip Sabic and fellow petrochemical producers face an uncertain outlook amid export disruptions and long-term supply-demand imbalances, according to analysts.
India expects prices of both oil and gas to drop in the coming months, with enough stocks available despite the U.S.-Israeli war with Iran that has squeezed energy supplies, Oil Minister Hardeep Singh Puri told broadcaster CNN-News18 on Monday.
Seven OPEC+ countries will raise oil output targets by 188,000 barrels per day in July, OPEC said in a statement after a meeting on Sunday.
India raised prices of domestic cooking gas for the second time since the Iran war started, to help state retailers cut losses on discounted fuel sales.
India is launching on Friday a new fuel blend with an 85% ethanol component as part of the fuel flex mobility program of the world's third-largest crude importer to reduce dependence on imported oil.
Russian Deputy Prime Minister Alexander Novak has warned that global oil markets could face supply shortages within a few months if the war with Iran persists.
South Korea will triple its crude imports from Canada this year and boost LNG purchases from Canadian export projects in the coming years as the Asian economy looks to diversify energy supply amid the massive oil and gas supply shock in the Middle East.
Analysts have slashed their estimates of India's oil demand growth this year, with the consumption uptick to be the weakest since the Covid pandemic as the supply crunch and higher fuel prices slow gasoline and diesel demand.
Indian Oil Corporation (IOC) bought five million (mn) barrels of crude oil via a tender, trade sources said.
Venezuela's oil exports rose slightly to 1.25 million barrels per day in May, its third consecutive month of increase, fueled by more cargoes to the U.S., India and Europe, shipping data showed on Monday.
Kazakhstan’s Energy Minister Yerlan Akkenzhenov held a meeting with Türkiye’s Minister of Energy and Natural Resources Alparslan Bayraktar on the sidelines of the BEW 2026 International Energy Forum in Baku, citing Kazakhstan’s Ministry of Energy.
Wildfire season has returned to Canada's oil sands region, with seven active blazes in the area on Sunday raising risks for communities, workers, companies and investors.
India's largest state-run refiner and fuel retailer, Indian Oil Corporation, has raised the price of a 19 kilogram commercial LPG cylinder for industrial clients by 42 rupees ($0.4421) to 3,113.50 rupees from 3,071.5 rupees, according to its website.
India has asked state-run fuel retailers to increase the storage capacity of liquefied petroleum gas to meet 30-days' demand, Sujata Sharma, a joint secretary in the federal oil ministry said on Friday.
Canada and the United States must do more to remove political risks around pipeline permitting, the head of South Bow Ltd. SOBO-Tsays, as the company finalizes a call for volume commitments on its planned Prairie Connector line.
Bharat Petroleum Corporation Limited (BPCL) has appointed Pushp Kumar Nayar as Director (Human Resources), strengthening the leadership bench at a time when India’s energy sector is balancing operational scale, workforce transformation and digital capability building.
Canada is set to announce a deal to supply Germany with liquefied natural gas from a planned export facility on the coast of British Columbia, according to people familiar with the matter.
Turkey will build a 97-kilometer subsea natural gas pipeline to Northern Cyprus to bolster energy security and potentially link Eastern Mediterranean gas reserves to European markets, Turkish Energy and Natural Resources Minister Alparslan Bayraktar announced.
The Trump administration allowed a sanctions waiver that had enabled countries, including India, to buy Russian seaborne crude to expire.
