Oil gained 1% on Thursday to snap its three-day decline, as risk appetite returned to financial markets after the U.S. Federal Reserve kept benchmark interest rates on hold.
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Iran oil proceeds topped $80 billion under lax sanctions enforcement.
With petroleum producers remaining disciplined and spending well below their cash flow levels, the Canadian sector should be in a healthy spot in 2024.
In October, India imported 1.55 million barrels per day (bpd) of crude oil from Russia, as against 1.62 million bpd in the previous month. Russian oil constituted almost 34 percent of total crude oil imports by India in the month.
Top oil exporter Saudi Arabia may keep the price for its flagship Arab Light crude little changed to Asia after five months of price hikes, as the market, rattled by geopolitical tensions, juggles supply uncertainty with declining demand.
Oil prices rose more than 1% on Wednesday ahead of the keenly watched meeting of the U.S. central bank for clues on interest rate policy, while the conflict in the Middle East remains in focus.
RoydadNaft – Iranian Oil Ministry has signed 12 deals worth $34 million with various knowledge-based companies over the past year, IRNA reported.
As reported, the National…
Iran's Supreme Leader Ayatollah Ali Khamenei called on Muslim states to cease oil and food exports to Israel, demanding an end to its bombardment of the Gaza Strip, state media reported.
Oil Minister Javad Owji on Wednesday announced that Iran’s oil production has reached 3.4 million barrels per day (bpd).
Indian Oil Corp Ltd (IOC) reported a profit for the second-quarter on Tuesday, compared to a loss year ago, as the country's top refiner benefited from higher refining margins.
Oil prices rebounded in Asian trade on Tuesday, after a drop of more than 3% in the previous session, as worries over supply stirred by conflict in the Middle East offset dismal China data.
RoydadNaft – While most outlets have been harping on the $6 Billion in aid recently released to Iran by the Biden Administration, Rare would like…
A member of Iran’s Parliament on Tuesday praised the Oil Ministry for doubling exports and getting the revenue over the past two years.
Oil slipped more than 1% on Monday as concern eased about the Israel-Hamas war affecting supply from the region and as investors adopted caution ahead of this week's U.S. Federal Reserve meeting and other indications of global economic health.
India has recovered its enormous appetite for Russian oil and is likely to buy between 1.5 million barrels per day (mbpd) and 1.7 mbpd, moving back to levels last seen around March.
The spokesman of the Iranian Oil, Gas and Petrochemical Products Exporters’ Union said that Iran’s oil production has increased to 3.4 million barrels per day (bpd), despite the U.S. sanctions aimed at curbing oil exports and the associated revenue to Iran’s government.
The United States needs more heavy oil for a whole series of reasons. President Joe Biden could have chosen to have that oil come from a close friend and ally, environmentally conscious Canada, or from one of the world’s nastiest regimes, Nicolas Maduro’s Venezuela, which doesn’t give a toss about the environment.
Oil prices climbed about 3% to a one-week high on Friday on worries that tensions in Israel and Gaza could spread into a wider conflict that could disrupt global crude supplies.
Russia has sent record volumes of sea-borne fuel oil and vacuum gasoil (VGO) to India in September, replacing some crude oil volumes, traders said and LSEG data showed.
Oil prices rose by more than $2 a barrel on Friday as investors priced in fears of an escalation of conflict in the Middle East which could disrupt oil supplies, after reports that the U.S military had struck Iranian targets in Syria.