The 14th administration aims to boost Iran's oil industry, with Minister of Petroleum Mohsen Paknejad aiming to increase daily oil production by 400,000 barrels until March 2025.
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The global price of crude oil today, November 28, 2024
Brent crude futures edged up by 8 cents to $72.91 a barrel by 0955 GMT while U.S. West Texas Intermediate crude futures were up 7 cents at $68.79.
Indian Prime Minister Narendra Modi has emphasized Guyana's importance to India's energy security, stating that the country's light and sweet crude is a key source and will encourage Indian businesses to invest in it.
The world price of crude oil today, November 27, 2024
Brent crude futures rose 38 cents, or 0.52%, to $73.19 a barrel by 1144 GMT and U.S. West Texas Intermediate crude was up 39 cents, or 0.57%, at $69.16.
The following is a report published in Iran Petroleum's latest issue on Iran's petrochemical industry, specifically the polymer sector.
The world price of crude oil today, November 26, 2024
Brent crude futures were up 53 cents, or 0.7%, at $73.54 a barrel as of 1231 GMT. U.S. West Texas Intermediate crude futures were at $69.46 a barrel, up 52 cents, or 0.75%.
Russia's crude oil exports by sea fell in the four weeks to November 24 compared to the previous four-week average by the steepest volume since July, amid lower shipments to India, tanker-tracking data monitored by Bloomberg showed on Tuesday.
Iran's Finance and Economic Affairs Minister Abdolnasser Hemmati met with OPEC Fund President Abdulhamid Alkhalifa at the 28th WAIPA World Investment Conference, confirming the Fund's readiness to offer services to Iranian companies.
With the coming to power of a new president in the United States, measures have been taken to ensure that Iran's oil exports continue without or with minimal challenges.
The global price of crude oil today, November 25, 2024
Brent crude futures were down 0.23%, or 17 cents, to $75.00 a barrel by 1314 GMT, while U.S. West Texas Intermediate crude futures were at $71.01 a barrel, down 23 cents, or 0.32%.
Indian crude oil and condensate production dropped by four percent year-over-year in October 2024, reaching 2.3 million metric tons (MMT), according to recent data from the Petroleum Planning and Analysis Cell (PPAC).
India's domestic crude oil and condensate production fell by 4% YoY in October 2024, reaching 2.3 million metric tonnes, according to PPAC data.
In its latest short term energy outlook (STEO), which was released recently, the U.S. Energy Information Administration (EIA) said India has emerged as the leading source of growth in global oil consumption in its forecast.
The OPEC and Russian Federation held the Ninth High-level Meeting of the OPEC-Russia Energy Dialogue in Moscow on November 22, 2024.
The Iranian Oil Refining and Distribution Company (NIORDC) and the Vice Presidency for Scientific, Technology, and Knowledge-Based Economy are forming a joint working group to drive digital transformation in the refining sector.
The world price of crude oil today, November 21, 2024
Brent crude futures rose $1.48, or 2.03%, to $74.29 by 1158 GMT. U.S. West Texas Intermediate crude futures rose $1.53, or 2.23%, to $70.28.
The CEO of the National Iranian Oil Company predicts that daily oil production in Iran will reach 200,000-250,000 barrels by the end of the 1403 year.
The world price of crude oil today, October 20, 2024
Brent crude futures increased by 0.3% to $73.53 a barrel in January, while U.S. West Texas Intermediate crude futures reached $69.70 due to expiry.
The US-China Economic and Security Review Commission has called for a six-month study on China's indirect oil entry routes to protect the country from sanctions.
Global Crude Oil Price Today November 19, 2024
Brent crude futures were down 29 cents, or 0.4%, to $73.01 a barrel by 1240 GMT, while U.S. West Texas Intermediate crude futures slipped by 34 cents, or 0.5%, to $68.82.