Brent futures rose 32 cents, or 0.4%, to $85.40 a barrel by 0340 GMT, while U.S. West Texas Intermediate (WTI) crude gained 48 cents, or 0.6%, to $83.33.
OIL Feed Atom
India is a great power that determines its national interests and chooses its partners, Russian Foreign Minister Sergey Lavrov has said, describing as completely unjustified the enormous pressure on New Delhi due to its energy cooperation with Moscow.
The latest issue of the OPEC Bulletin concerns the importance of the oil industry heritage and the necessity of contribution to its preservation.
Brent crude oil futures was down by 4 cents to $83.69 a barrel by 0315 GMT. U.S. West Texas Intermediate crude futures also eased 4 cents to $80.72.
India has raised its windfall tax on petroleum crude effective July 16, the government said in a notification on Monday.
Specialists of an Iranian knowledge-based company succeeded in reverse engineering and indigenization of the sensors for level gauges, one of the key equipment needed in the oil and gas industry.
Iran's oil production will reach four million barrels per day (bpd) by the end of current Iranian year calendar (March 20, 2025), according to Iranian Oil Minister Javad Owji.
China, Japan and South Korea are set to receive cargoes of oil imports from Canada's newly expanded Trans Mountain pipeline in September, becoming the first Asian countries to benefit from the facility since it became operational in May.
Brent futures fell 21 cents, or 0.25%, to $84.64 a barrel by 0408 GMT, while U.S. West Texas Intermediate (WTI) crude dropped 25 cents, or 0.31%, to $81.66.
Iranian Minister of Petroleum Javad Owji met with President-elect Masoud Pezeshkian and wished him success.
Brent crude futures rose 15 cents, or 0.2%, to $85.18 a barrel by 0425 GMT after settling down 37 cents on Friday. U.S. West Texas Intermediate crude stood at $82.41 a barrel, up 20 cents, or 0.2%.
Kuwait Oil Co. said it’s discovered “huge commercial amounts” of light oil and associated gas in an offshore field, marking a “turning point” in its efforts to explore offshore hydrocarbons.
A senior Iranian lawmaker has said the Islamic Republic is prepared to supply BRICS member states with oil and gas to meet their growing energy demands.
India is set to launch its tenth bidding round for oil and gas blocks in August or September, covering 25 blocks across 13 sedimentary basins, essential for exploration and production.
Quoting the OPEC data, MNA announced that “Iran’s crude oil price rose by $4.76 per barrel from January to June 2024 compared to last year’s corresponding period.”
India’s oil consumption is projected to rise to 7 million barrels per day (mbd) by 2030 from 5 mbd in 2022 in the ‘current trajectory’ scenario of the latest BP’s Energy Outlook.
Iranian Oil Minister Javad Oji says the country’s oil production has increased from 2.2 million barrels per day (bpd) in 2021, when the current government took office, to 3.6 million bpd in the current year, IRIB reported.
The weekly price of the OPEC basket of twelve crudes fell by 1.24 dollars during the week ending on July 11.
A Chevron-chartered oil tanker that was seized by Iran more than a year ago was heading for international waters on Thursday, LSEG ship tracking data showed.
India's Oil and Natural Gas Corp has sought a waiver from the U.S. Office of Foreign Assets Control to lift crude oil from Venezuela, an industry source said on Thursday.