The average price of India's crude oil imports fell to below $70 per barrel this month, for the first time since 2021, as international benchmarks plunged amid trade and tariff uncertainty.
OIL Feed Atom
The first large bitumen bulk oil tanker of the new Iranian year berthed at Shahid Rajaee Port in southern Iran in early April while the Port of the Persian Gulf marked a 3.9% increase in tanker operation compared to the previous year, according to port officials.
Former CEO of Petroleum Engineering and Development Company (PEDEC) believes to attract investors in the oil industry, we must diversify long-term contracts, increase their operational flexibility, and remove obstacles.
Iranian Parliament Energy Committee member emphasizes "Transformation in Investment and Development" event as crucial for "Year of Investment for Production," attracting capital to oil, gas, and upstream industries.
World crude oil prices today, April 14, 2025
Brent crude futures rose by 83 cents, or 1.3%, to $65.59 a barrel by 1200 GMT. U.S. West Texas Intermediate crude was up 84 cents, or 1.4%, at $62.34.
OPEC reduced its 2025 global oil demand growth forecast due to first quarter data, US trade tariffs, and reduced economic growth forecasts for this year and next.
Indian national Jugwinder Singh Brar owns multiple shipping companies with nearly 30 vessels, many of which operate as part of Iran's "shadow fleet," according to the US Department of the Treasury's Office of Foreign Assets Control.
The CEO of Pars Oil and Gas Company (POGC) said identifying opportunities, outlining investment risks, and enhancing the appeal of contract models are the most important factors in attracting investment to the oil industry.
A joint meeting between executives from Arvandan Oil and Gas Company and a leading Russian firm was held to discuss technological needs and exchange expertise in advanced energy solutions.
World crude oil prices today April 11, 2025
Brent futures rose 14 cents, or 0.2 percent, to $63.47 a barrel, while U.S. West Texas Intermediate crude rose 0.2 percent to $60.21 after falling more than $2 on Thursday.
Saudi Armco rekindled interest in India's refinery plans, despite setbacks, as Bharat Petroleum Corp. and Oil and Natural Gas Corp.'s strategic move opens another opportunity.
Iran’s daily crude shipments to China reached 1.91 million barrels. At least 1.8 million tonnes of Iranian oil arrived in China in March, transported by 10 tankers, as reported by TV BRICS.
The US on Thursday imposed new sanctions on entities and vessels linked to Iran’s oil industry, stepping up pressure on Tehran just days before talks between the two countries in Oman.
World crude oil price today, April 10, 2025
Brent futures fell 39 cents, or 0.6 percent, to $65.09 a barrel, while U.S. West Texas Intermediate crude fell 29 cents, or 0.5 percent, to $62.06.
Iran’s oil minister announced a meeting with foreign ambassadors next week, emphasizing that Iran welcomes foreign countries—especially neighboring nations—to invest in its oil industry.
World crude oil prices today, April 9, 2025
Brent crude futures fell $1.39, or 2.21 percent, to $61.43 a barrel. U.S. West Texas Intermediate crude fell $1.50, or 2.52 percent, to $58.08.
President Trump’s trade war has triggered a drop in oil prices, giving Saudi Arabia a narrow chance to reassert control over OPEC+ and discipline non-compliant producers. However, Riyadh faces limits in sustaining a price war due to its economic reliance on high oil prices and growing internal alliance tensions.
The CEO of Petroleum Engineering and Development Company (PEDEC) emphasized investment as the key prerequisite for realizing new oil and gas production capacities and stressed the need for active private sector participation.
World crude oil prices today, April 8, 2025
Brent futures rose 66 cents, or 1 percent, to $64.87 a barrel, while U.S. West Texas Intermediate crude rose 67 cents, or 1.1 percent, to $61.37.
The National Iranian Oil Company (NIOC) is set to host an event this spring aimed at transforming investment and development in Iran's upstream oil and gas sector.