Russian oil flows to India reached a 9-month high in April due to abundant Moscow crude availability and low prices, allowing non-sanctioned tankers to transport oil without violating international regulations.
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Goldman Sachs on Friday said it expects OPEC+ to announce a second consecutive increase in supply for June on Saturday, due to modest compliance from Kazakhstan, lower-than-expected OECD inventories, and Saudi Arabia's ability to handle lower oil prices.
World crude oil price today, May 2, 2025
Brent crude futures rose 49 cents, or 0.8 percent, to $62.62 a barrel, while U.S. West Texas Intermediate crude futures rose 50 cents, or 0.8 percent, to $59.74 a barrel.
President Donald Trump on Thursday threatened sanctions on anyone who buys Iranian oil, a warning that came after planned talks over Tehran’s rapidly advancing nuclear program were postponed.
World crude oil price today, May 1, 2025
Brent crude futures fell 6 cents, or 0.1 percent, to $61 a barrel. U.S. West Texas Intermediate crude fell 12 cents, or 0.2 percent, to $58.09.
The US imposed sanctions on entities involved in the illicit trade of Iranian petroleum and petrochemicals ahead of a new round of US-Iran negotiations.
Iran’s oil minister announced the continuation of quality improvement projects at domestic refineries to enhance gasoline standards, stating that some refineries already produce Euro 4 and Euro 5 gasoline. Once these projects are completed, the supply of higher-quality fuel will increase.
World crude oil prices today, April 30, 2025
Brent crude futures fell $1.13, or 1.8 percent, to $63.12 a barrel. U.S. West Texas Intermediate crude fell $1.11, or 1.8 percent, to $59.31 a barrel.
Iran’s first vice president announced that Iran is ready to cooperate with Niger in agriculture and energy, adding that the two nations can also share expertise in new technologies and artificial intelligence.
India increased purchases of ESPO Blend oil from Russia in April to the highest level since August 2024 amid weaker demand from Chinese companies, according to LSEG and traders' data.
The deputy CEO of the National Iranian Drilling Company (NIDC) for drilling operations announced the drilling and completion of eight oil and gas wells using the company’s rigs during Farvardin (March 21–April 20), the first month of the Iranian calendar year.
Iran’s oil minister emphasized the country’s readiness to expand and strengthen bilateral cooperation in oil, gas, refining and petrochemicals during a meeting with Bolivia’s minister of energy and hydrocarbons.
World crude oil prices today, April 28, 2025
Brent crude futures fell 13 cents, or 0.19 percent, to $66.74 a barrel. U.S. West Texas Intermediate crude fell 12 cents, or 0.19 percent, to $62.90 a barrel.
Indian Oil GPS Renewables plans to invest Rs 1,200 crore in ten Compressed Biogas (CBG) projects across Uttar Pradesh, Haryana, Chhattisgarh, and Andhra Pradesh, marking a significant biofuel industry milestone.
A growing number of Russian insurance firms, some of which sanctioned by the U.S., have applied with India's authorities to insure tankers shipping Russian crude oil to India, according to various sources familiar with the matter.
Iran plans to increase its crude oil production by 400,000 barrels per day (bpd) within the next eight months, according to the head of the National Iranian Oil Company (NIOC).
World crude oil prices today, April 25, 2025
Brent crude futures fell 41 cents to $66.14 a barrel. U.S. West Texas Intermediate (WTI) crude fell 36 cents to $62.43 a barrel.
Traders and buyers have reshuffled tanker supply chains following the U.S. sanctions on Russia’s oil trade and shadow tanker fleet from early this year. China and India are taking in more Russian oil again in April.
World crude oil prices today, April 24, 2025
Brent crude futures rose 67 cents, or 1.01 percent, to $66.79 a barrel, while U.S. West Texas Intermediate crude rose 75 cents, or 1.2 percent, to $63.02.
Iran’s oil minister said the potential for trade and economic cooperation between Iran and Russia is far greater than $5 billion, adding that the goal is not just to reach $10 billion but to elevate relations to even higher levels through agreed-upon frameworks.