Brent crude futures rose by $0.94 (1.4%) to $69.34 per barrel. U.S. West Texas Intermediate (WTI) crude futures increased by $0.92 (1.5%) to $64.13 per barrel.
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The United States is handing over to Venezuela a tanker that it seized this month, two U.S. officials told Reuters on Wednesday.
Indian Oil Corp anticipates a significant surge in its annual diesel exports, potentially reaching up to 5 million metric tons by 2027 due to expanded refining capacity.
Brent crude futures declined by 39 cents (0.6%) to $67.18 per barrel. U.S. West Texas Intermediate (WTI) crude futures fell 22 cents (0.4%) to $62.17.
U.S. energy major Chevron is pressing Iraq for higher returns on the giant West Qurna 2 oilfield as a condition for stepping in to buy and operate the asset from Russia’s Lukoil, three sources with knowledge of the discussions said.
India’s state-run Hindustan Petroleum Corp Ltd (HPCL) is planning to import Venezuelan crude oil for the first time to expand its activities in the processing of heavier grades in its new fiscal year (FY) beginning in April, Chairman Vikas Kaushal said.
Brent crude futures rose 23 cents (0.35%) to $65.82 per barrel. U.S. West Texas Intermediate (WTI) crude futures increased 29 cents (0.48%) to $60.92 per barrel.
Where exactly is the expected supply glut in the global crude market?
Canada and India will pledge to expand trade in oil and gas as the countries reboot their relationship after a diplomatic chill.
Iran has upgraded mazut quality at its refineries, launched crude-oil desulfurization projects and cut daily gas flaring by up to 14 million cubic meters as part of broader efforts to curb air pollution, the head of the Environmental Protection Organization said.
Brent crude futures rose 23 cents (0.4%) to $66.11 per barrel. U.S. West Texas Intermediate (WTI) crude futures gained 19 cents (0.3%) to $61.26 per barrel.
Construction of the first offshore platform jacket at Iran’s Farzad B gas field is 93 percent complete, the project’s development manager said, adding that the structure is expected to be loaded for transport in the coming days and installed by the end of the year.
Libya signed a 25-year oil development agreement on Saturday with France's TotalEnergies and U.S.-based ConocoPhillips, involving more than $20 billion in foreign-financed investment, Prime Minister Abdulhamid al-Dbeibah said.
Iran’s crude oil production edged down marginally in December 2025 even as overall output by the Organization of the Petroleum Exporting Countries (OPEC) increased, according to the group’s latest monthly report.
India can leverage its growing energy demand to negotiate better oil and gas supply deals, Oil Minister Hardeep Singh Puri said on Friday, as its refiners continue seeking alternatives to Russian oil.
Daily crude oil production by OPEC member countries rose by 105,000 barrels in the final month of 2025, reaching 28.564 million barrels per day in December, according to the organization’s latest report.
Brent crude futures rose by $0.54 (approximately 0.84%) to $64.60 per barrel. U.S. West Texas Intermediate (WTI) crude futures increased by $0.43 (about 0.72%) to $59.80.
Indian Oil Corp (IOC) buys 7M barrels of crude for March: 2M Buzios from Brazil’s Petrobras, 3M from Abu Dhabi (Murban + Upper Zakum), 2M Angola grades (Hungo/Clove via Exxon) — accelerating shift away from Russian oil amid tighter sanctions & lowest Russian imports in 2 yrs.
Brent crude futures rose by $0.10 (0.15%) to $65.34 per barrel. U.S. West Texas Intermediate (WTI) crude futures increased by $0.14 (0.23%) to $60.76 per barrel.
Venezuelan crude shipments under a $2 billion supply agreement with the United States have reached roughly 7.8 million barrels, but logistical bottlenecks, pricing resistance from buyers and storage overhangs are slowing progress and delaying a full reversal of output cuts.