Canadian oil producer Suncor Energy reported first-quarter profit above analysts' expectations on Tuesday, as it benefited from greater refinery production and sales volumes.
OIL Feed Atom
World crude oil prices today, May 06, 2025
Brent crude futures rose $1.15 to $61.38 a barrel, while U.S. West Texas Intermediate crude rose $1.11 to $58.24 a barrel.
U.S. President Donald Trump said Moscow and Kyiv want to settle the war in Ukraine and that Russian President Vladimir Putin was more inclined towards peace after the recent fall in the price of oil.
Tehran is to host its 29th International Oil, Gas, Refining and Petrochemical Exhibition dubbed as Iran Oil Show 2025 with the aim of introducing the country's industrial and commercial capabilities in the oil and gas sector.
Saudi Arabia and India agreed to enhance energy cooperation, including Saudi investment in two refineries. However, initial talks have been halted due to Saudi Arabia's disagreements with India over crude supply.
World crude oil price today, May 5, 2025
Brent crude fell $2.21, or 3.61 percent, to $59.08 a barrel, while U.S. West Texas Intermediate crude fell $2.29, or 3.93 percent, to $56.00 a barrel.
Iran Oil Show 2025, set to begin on May 8, will showcase the country's significant role in the global energy supply chain, attracting over 2,000 companies from 14 countries.
OPEC+ has agreed to accelerate oil production hikes for a second consecutive month, raising output in June by 411,000 barrels per day, the group said on Saturday, despite falling prices and expectations of weaker demand.
A joint meeting was held between managers and contractors of the Yaran oil field development project to explore strategies for speeding up the project's progress.
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.
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.