The Organization of Petroleum Exporting Countries (OPEC) in its latest report has said Iran produced 3.259 million barrels per day (bpd) of crude oil in October, while the figure was 3.327 million bpd in September.
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Global Crude Oil Price Today November 13, 2024
Brent futures rose 14 cents, or 0.2%, to $72.03 a barrel by 0745 GMT, while U.S. West Texas Intermediate (WTI) crude futures gained 13 cents, or 0.2%, at $68.25.
Days after a blast triggered a fire at its Gujarat refinery resulting in the death of one person, Indian Oil Corporation (IOC) reported a fire at its Mathura refinery on Tuesday (November 13, 2024).
The OPEC Monthly Oil Market Report provides insights into short-term global oil market developments, including economic, price, consumption, production, trade, and tanker market.
The world price of crude oil today, November 12, 2024
Brent crude futures rose 4 cents to $71.87 a barrel, by 0745 GMT. U.S. West Texas Intermediate crude futures were down one cent at $68.03 a barrel.
India's export of fuels like diesel to the European Union jumped 58 per cent in the first three quarters of 2024, with a bulk of them likely coming from refining discounted Russian oil, according to a monthly tracker report.
India's Oil and Natural Gas Corp.’s (ONGC) quarterly profit beat analyst estimates despite a dip in production and weak crude prices.
The world price of crude oil today, November 11, 2024
Brent crude futures fell 9 cents, or 0.1% to $73.78 a barrel by 0916 GMT while U.S. West Texas Intermediate crude futures were at $70.23 a barrel, down 15 cents, or 0.2%.
The CEO of the National Iranian Oil Products Distribution Company (NIOPDC) has stated that the company plans to use artificial intelligence to better manage the massive volume of oil product transfers and deter the possibility of disruptions and errors.
US oil executives are eagerly awaiting Donald Trump’s expected rollback of environmental regulations, but despite the president’s pledge to “drill, baby, drill”, production is unlikely to increase significantly during his second term in office.
The Russian government is considering the merger of three major oil companies - Rosneft, Gazprom Neft, and Lukoil. This move is expected to help secure more favorable energy deals with non-Western countries, reports the Institute for the Study of War (ISW).
The head of the National Iranian Oil Company (NIOC) has announced the allocation of $800 million to the National Iranian Drilling Company (NIDC) for the modernization of the company’s drilling equipment, Shana reported.
Union Petroleum and Natural Gas Minister Hardeep Singh Puri has said India’s decision to buy oil from Russia amid global uncertainties helped avert a potential spike in global oil prices.
An Iranian vessel belonging to the National Iranian Tanker Company (NITC) has rescued the crew members of a cargo ship after it had an accident near Kharg Island in the Persian Gulf.
Global crude oil prices on November 7, 2024
Brent crude oil futures fell 48 cents, or 0.6%, to $74.44 a barrel by 1040 GMT on Thursday. U.S. West Texas Intermediate (WTI) crude slipped 61 cents, or 0.9%, to $71.08.
Iranian scientists have achieved a breakthrough in converting oil refinery waste into valuable fuels like petrol, diesel, and liquefied petroleum gas (LPG), thanks to the development of advanced catalysts.
Iran’s crude oil going to China these days is priced at its narrowest discount to Brent in five years.
Global Crude Oil Price Today November 6, 2024
Brent crude oil futures were down $1.04, or 1.4%, at $74.49 per barrel by 1146 GMT, while U.S. West Texas Intermediate (WTI) crude fell $1.04, or 1.4%, to $70.95 per barrel.
India's Minister of Petroleum and Natural Gas, Shri Hardeep S Puri, praised the UAE for its leadership in the global energy sector, highlighting its exceptional energy mix and significant progress in the energy transition phase.
Global Crude Oil Price Today November 15, 2024
Brent crude futures ticked up 16 cents, or 0.2%, to $75.24 a barrel by 0841 GMT, while U.S. West Texas Intermediate crude was at $71.65 a barrel, up 18 cents, or 0.3%.