Iran’s Oil Minister Javad Owji and his Venezuelan counterpart Pedro Tellechea met in the Algerian capital Algiers on Saturday and agreed to broaden cooperation in the petroleum industry.
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Iran’s Oil Minister Javad Owji and OPEC Secretary General Haitham Al Ghais exchanged views on developments of the global oil market in Algiers, the capital of Algeria, on Saturday.
Venezuela's oil exports slightly increased in February to some 670,000 barrels per day (bpd), but ongoing shipping delays worsened a bottleneck of tankers waiting to load, according to documents and vessel monitoring data.
The Indian government hiked its windfall tax on petroleum crude to 4,600 rupees ($55.51) a metric ton from 3,300 rupees with effect from March 1, according to a government order released on Thursday.
Brent futures for May were up $1.01, or 1.23%, at $82.92 a barrel by 0950 GMT. The April Brent futures contract expired on Feb. 29 at $83.62 a barrel.U.S. West Texas Intermediate (WTI) for April rose 97 cents, or 1.24%, to $79.23 a barrel.
Fresh U.S. sanctions on Moscow threaten to dent Russian oil sales to India, the biggest buyer of Russian seaborne crude, and complicate efforts by Indian state refiners to secure annual supply deals, three industry sources familiar with the matter said.
Brent crude futures for April fell 43 cents, or 0.5%, to $83.25 a barrel by 0830 GMT. U.S. West Texas Intermediate crude futures were down 26 cents, or 0.3%, to $78.28 a barrel.
Brent crude futures fell 49 cents, or 0.6%, to $83.16 a barrel by 0302 GMT, while U.S. West Texas Intermediate futures (WTI) dropped 48 cents to $78.39 a barrel.
Brent crude futures rose 36 cents, or 0.44%, to $82.89 a barrel by 0745 GMT, while U.S. West Texas Intermediate crude futures (WTI) were up 31 cents, or 0.40%, to $77.89 a barrel.
Goldman Sachs raised its summer 2024 Brent peak forecast by $2 a barrel to $87 as disruptions in the Red Sea contribute to modestly larger-than-expected draws in OECD commercial stocks, the bank said in a note dated Sunday.
Brent crude futures fell 39 cents, or 0.5%, to $81.23 a barrel by 1001 GMT. U.S. West Texas Intermediate crude futures (WTI) were down 34 cents, or 0.4%, at $76.15.
The International Monetary Fund (IMF) increased its estimate of Iran’s economic growth in 2024, citing a higher-than-expected surge in the country’s oil production.
US Central Command in the Middle East known as CENTCOM has announced an attack on an American-flagged oil tanker in the Gulf of Aden off the Yemen coast.
In a strategic move to diversify its operations, Indian Oil Corp (IOC) has entered the shipping industry by acquiring two oil supertankers.
Iraq’s Prime Minister Mohammed Shia’ al-Sudani on Friday presided over the reopening of the country’s largest oil refinery that was captured by the Islamic State (ISIS) nearly a decade ago.
Suncor Energy, Canada's second-largest oil producer, will focus this year on cutting operating costs in its oil sands mining business, CEO Rich Kruger said on Thursday, as the company continues efforts to fix long-running underperformance.
India's crude oil imports rose to a monthly record in January after the Red Sea shipping crisis delayed the December arrival of cargoes from the Americas, data from trade sources showed.
Brent crude futures were down 94 cents, or 1.1%, at $83.73 a barrel at 1015 GMT on Friday, while U.S. West Texas Intermediate crude futures were 99 cents, or 1.3%, lower at $77.62.
The Iranian Oil Pipeline and Telecommunication Company (IOPTC) reported a 4.5% increase in crude oil and petroleum product transmission in the first nine months of 2023 compared to the previous year.
Brent crude futures rose 35 cents, or 0.4%, to $83.38 a barrel at 1036 GMT. U.S. West Texas Intermediate crude futures climbed 37 cents, or 0.5%, to $78.28 a barrel.