World crude oil price today, May 22, 2025
Brent crude futures fell 90 cents, or 1.4 percent, to $64.01 a barrel. U.S. West Texas Intermediate crude fell 85 cents, or 1.4 percent, to $60.72.
OIL Feed Atom
China drove global oil demand growth over the last decade, but now India is poised to take the lead in demand growth over the next decade, according to a latest report by Moody's Ratings.
A member of the Iranian Parliament’s Energy Committee emphasized the committee’s support for attracting investment in the oil and gas sector, stating that the legislature is focused on passing laws and regulations to facilitate domestic and foreign investment in the energy sector.
The Directorate of Exploration of the National Iranian Oil Company (NIOC) has embarked on centralized studies over recent years to explore unconventional resources.
World crude oil price today May 21, 2025
Brent crude futures rose 79 cents, or 1.2 percent, to $66.17 a barrel. U.S. West Texas Intermediate crude rose 82 cents, or 1.3 percent, to $62.85.
India's Russian crude oil imports will hit close to 1.8 million barrels per day in May, the highest in 10 months, ship tracking data from Kpler showed, after refiners snapped up more light grades such as ESPO Blend.
Iran’s Oil Minister and Turkmenistan’s Foreign Minister have emphasized deepening bilateral cooperation in the oil and gas sector and discussed avenues to broaden energy collaboration.
World crude oil price today, May 20, 2025
Brent crude futures fell 7 cents, or 0.1 percent, to $64.75 a barrel. U.S. West Texas Intermediate crude futures fell 5 cents, or about 0.1 percent, to $62.1 a barrel.
Saudi Arabia is expected to burn more crude oil for power generation this summer than last as it ramps up output after OPEC+ eases supply controls and as fuel oil has become costly, analysts and trade sources said.
PEDEC has signed two major subsurface drilling contracts to expedite the development of the Paydar Gharb oilfield, a shared reservoir with Iraq.
Iranian Parliament's Energy Committee member reports proposal for Energy Ministry to consolidate energy sector management under review, requiring further discussions on implementation and organizational structure.
NIOPDC CEO confirms that the subsidized diesel fuel quota price for urban and intercity transport fleets with verified performance will remain at 300 tomans per liter.
World crude oil price today May 19, 2025
Brent crude futures fell 46 cents, or 0.7 percent, to $64.95 a barrel, while U.S. West Texas Intermediate crude fell 26 cents, or 0.4 percent, to $62.23.
Iran plans to commission two new oil refineries and three fuel quality upgrade projects by the end of the current Iranian year (March 2026), the head of the National Iranian Oil Refining and Distribution Company (NIORDC) announced on Saturday.
Oil Minister Maksen Paknejad announced at a cabinet meeting Sunday that one major oil or petrochemical project will begin operations each month from late May through the end of the year.
The director of Iran's National Oil Engineering and Construction Company has announced that the Real-Time Monitoring Plan for the Supply and Distribution Chain of Petroleum Products will be operational by March 2026.
OPEC's May 2025 Monthly Oil Market Report predicts India's oil demand to rise by 3.39% from 5.55 million barrels per day in 2024 to 5.74 million in 2025, and 4.28% in 2026.
Iran’s crude oil storage capacity has increased by 2 million barrels following the commissioning of two refurbished tanks at the Kharg oil terminal in the operational zone.
Iran exported $67 billion worth of oil in the Iranian calendar year 1403 (ended on March, 20, 2025), marking its highest oil revenue in the past decade, according to estimates by the Central Bank of Iran (CBI).
The CEO of Isfahan Oil Refining Company stated that the Residual Hydrotreating Unit (RHU) upgrade project is progressing swiftly without any stoppages or major issues. The only current obstacle is delays in procuring certain project materials due to suppliers failing to meet commitments.