The deeply integrated North American oil and gas market stands at crossroads, with Canada's largest oil producer warning that it will diversify its exports away from the United States if President Donald Trump's tariff threats do not end.
OIL Feed Atom
India has passed legislation intended to encourage oil and gas exploration to help meet its energy needs, a move that highlights the difficulty of persuading the world’s most populous nation to phase out fossil fuels.
The National Iranian South Oil Company (NISOC) and the Exploration Directorate of the National Iranian Oil Company (NIOC) have signed a cooperation agreement to enhance collaboration in exploration, development, and production processes.
World crude oil prices today, March 12, 2025
Brent futures rose 13 cents, or 0.2 percent, to $69.69 a barrel, while U.S. West Texas Intermediate crude rose 13 cents, or 0.2 percent, to $66.38 a barrel.
Canadian Energy Minister Jonathan Wilkinson stated that Canada will respond to US tariffs and emphasized that it is not seeking to escalate trade tensions between the two nations.
China National Petroleum Corporation and India's ONGC Videsh Ltd plan to invest in Nigeria's oil and gas industry due to regulatory reforms and the country's vast reserves.
The exploration director of the National Iranian Oil Company (NIOC) announced the completion of the largest two- and three-dimensional land-sea seismic survey project in the Paniz region of Khuzestan province, utilizing wireless technology.
World crude oil price today March 11, 2025
Brent crude futures rose 18 cents, or 0.3 percent, to $69.46 a barrel. U.S. West Texas Intermediate crude rose 9 cents, or 0.1 percent, to $66.12 a barrel.
The spokesperson for Iran's Foreign Ministry dismissed claims made by Reuters regarding the halting of Iranian oil tankers, labeling them as fabricated, false, or biased reporting.
World crude oil price today March 10, 2025
Brent crude fell 31 cents, or 0.4 percent, to $70.05 a barrel. U.S. West Texas Intermediate crude fell 35 cents, or 0.5 percent, to $66.69 a barrel.
Oil India Limited is exploring collaborations with international oil companies for deep and ultra-deep water exploration under the latest OALP bidding round, according to Chairman and Managing Director Ranjit Rath.
The project manager for the development of the Azar oil field has announced the successful completion of the commissioning and operational launch of the field’s gas facilities.
China's crude oil imports decreased by 5% in 2024 due to the Biden administration's sanctions on Russian energy, impacting international flows.
India's BPCL plans to issue a tender for U.S. WTI crude in four consecutive months this summer, according to a source familiar with the plans.
World crude oil prices today, March 7, 2025
Brent crude futures rose 93 cents, or 1.34%, to $70.39 a barrel by 1017 GMT. U.S. West Texas Intermediate futures rose 88 cents, or 1.33%, to $67.24 a barrel.
The Trump administration is considering stopping and inspecting Iranian oil tankers at sea under an international agreement to prevent the spread of weapons of mass destruction.
World crude oil price today, March 6, 2025
Brent futures were trading up 50 cents, or 0.72%, at $69.80 a barrel, while U.S. West Texas Intermediate crude (WTI) futures climbed 48 cents, or 0.72%, to $66.79 a barrel.
U.S. exports of crude oil to India last month climbed to their highest in over two years, ship tracking data showed, as refiners in the country sought alternative supplies following tighter U.S. sanctions on Russian producers and tankers.
A faculty member at Allameh Tabataba'i University stated that the oil industry requires substantial investment, emphasizing that existing perspectives on concession agreements need revision.
World crude oil price today March 5, 2025
Brent futures fell $1.47, or 2.1%, to $69.57 a barrel by 1408 GMT. U.S. West Texas Intermediate (WTI) crude declined $1.77, or 2.6%, to $66.49 a barrel.