Mohsen Paknejad, Iran’s oil minister, said Wednesday that crude oil production has increased by 50,000 barrels per day.
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Iran’s oil minister emphasized the need for vigilance against provocations by the two countries' enemies during a phone call with his Iraqi counterpart.
World crude oil price today March 26, 2025
Brent crude futures rose 49 cents, or 0.67 percent, to $73.51 a barrel, while U.S. West Texas Intermediate crude rose 48 cents, or 0.70 percent, to $69.48 a barrel.
World crude oil price today March 25, 2025
Brent crude futures rose 46 cents, or 0.6 percent, to $73.46 a barrel. U.S. West Texas Intermediate crude rose 46 cents, or 0.7 percent, to $69.57.
India’s largest explorer Oil and Natural Gas Corp. is seeking to diversify its portfolio to shield its core business from volatile oil prices, said Arunangshu Sarkar, director for strategy at the state-run giant.
The foreign minister, referring to the US’s unlawful sanctions on Iran’s oil industry, said allegations and accusations by American officials aimed at pressuring Iran have no merit.
In 1404, PEDEC's CEO prioritized accelerating shared oil field development, increasing production, achieving technological self-sufficiency, and sustainable development as key priorities for the company.
World crude oil price today, March 24
Brent crude futures rose 36 cents, or 0.5 percent, to $72.52 a barrel. U.S. West Texas Intermediate crude rose 40 cents, or 0.6 percent, to $68.68.
Indian refiners are expected to decrease spot crude tenders as Russian oil supplies return to normal levels, easing supply concerns despite US sanctions.
The managing director of Persian Gulf Star Oil Company reported a four million liter increase in daily gasoline production in Iran's Persian Gulf Star Refinery during the second half of 2024.
The drilling and completion of an oil well in the Bibi Hakimeh field concluded at the start of the year 1404 (March 21).
The CEO of the National Iranian Oil Products Distribution Company stated that the company’s mission is to ensure fuel supply and emphasized that sufficient gasoline has been stored in oil depots.
Canada's carbon pricing system, aimed at reducing pollution, faces shaky future after 14 CEOs and opposition leader call for repeal, putting the Pathways Alliance carbon capture project's viability in doubt.
With just 11 days left for US President Donald Trump's tit-for-tat tariffs to kick in, India on Friday said its negotiations with Washington are underway to build a framework for a bilateral trade pact that would address issues relating to levies and market access.
World crude oil price today March 21, 2025
Brent crude futures rose 14 cents, or 0.2 percent, to $72.14 a barrel. U.S. West Texas Intermediate crude futures rose 16 cents, or 0.2 percent, to $68.23 a barrel.
India's government has established Strategic Petroleum Reserves, approved two more reserves, and promoted clean energy through biofuels, alternative fuels, refinery efficiency improvements, and increased domestic production.
The U.S. on Thursday issued new Iran-related sanctions, targeting entities including for the first time a Chinese "teapot," or independent refinery, and vessels that supplied crude oil to such processing plants.
On the anniversary of the nationalization of Iran's oil industry, the country's largest crude oil processing unit has commenced trial operations on Wednesday, according to the CEO of Petroleum Engineering and Development Company (PEDEC).
Global Crude Oil Price Today 20 Mar 2025
Brent crude futures rose 34 cents, or 0.5 percent, to $71.12 a barrel. U.S. West Texas Intermediate crude futures rose 42 cents, or 0.6 percent, to $67.58.
As part of its “maximum pressure” campaign against Iran, the US has sanctioned four India-based companies, “for their role in brokering the sale and transportation of Iranian petroleum-related products”, a US government statement said.