The National Iranian Oil Company (NIOC) has announced its official crude oil prices for January 2025, IRNA reported.
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The Iranian oil minister announced that creating a secure and transparent environment for investors is a priority of the Oil Ministry.
India's crude oil import from Russia decreased by 13.2% in December, but remained the largest supplier, accounting for 31% of India's total crude oil imports.
TankerTrackers, a shipping analytics company, reported a surge in Iran’s crude oil exports during the latter half of December 2024, following slow growth earlier in the month.
World crude oil price today January 1, 2025
Brent crude futures settled up 65 cents, or 0.88%, to $74.64 a barrel. U.S. West Texas Intermediate (WTI) crude settled up 73 cents, or 1.03%, to $71.72 a barrel.
World crude oil price today December 31, 2024
Brent crude futures rose by 54 cents, or 0.73%, to $74.53 a barrel as of 1107 GMT. U.S. West Texas Intermediate crude gained 57 cents, or 0.8%, to $71.56 a barrel.
India's largest refiner seeks Middle Eastern crude cargoes to compensate for reduced Russia supplies, highlighting shifting export patterns as traders anticipate global market prospects in 2025.
Iranian oil minister Ali-Mohammad Mousavi has been appointed as Iran's representative to various international bodies, including OPEC, GECF, and IEF.
World crude oil price today December 30, 2024
Brent crude futures rose 20 cents to $74.37 per barrel. US West Texas Intermediate crude futures rose 27 cents to $70.87 per barrel.
India surpasses China's oil demand growth rate in 2024, becoming one of the fastest-growing fuel consumption centers, according to S&P Global Commodity Insights.
NIOC's managing director announced plans to establish a specialized AI department during the Shahid Tondgouyan Digital Oil and Gas Fields Competition.
The oil minister announced plans to increase oil production capacity by approximately 250,000 barrels per day.
A minor fire in decommissioned oil product pipelines at the Abadan Refinery was brought under control in less than 30 minutes, thanks to the prompt response of refinery firefighters.
World crude oil prices today December 26, 2024
Brent crude futures rose 39 cents, or 0.5%, to $73.97 a barrel. U.S. West Texas Intermediate crude was at $70.53, up 0.6%, or 43 cents, from Tuesday's pre-Christmas settlement.
World crude oil price today December 24, 2024
Brent crude futures were up 47 cents, or 0.7%, at $73.10 a barrel, and U.S. West Texas Intermediate crude futures rose 46 cents, also 0.7%, to $69.70 a barrel by 0955 GMT.
PEDEC CEO emphasizes Iranian exploration and production companies' involvement in renewable energy development, stating the Ministry of Oil should optimize energy for self-sufficiency in electricity.
The first simultaneous, real-time center for Wells Reservoir and Facility Management (WRFM) in Iran was launched on Tuesday with an investment of $10 million in its first phase.
World crude oil price today December 23, 2024
Brent crude futures were down by 17 cents, or 0.23%, to $72.77 a barrel by 1129 GMT. U.S. West Texas Intermediate crude futures were down 14 cents, or 0.2%, to $69.32 per barrel.
India's November crude imports showed Middle Eastern oil at a 9-month high while Russia accounted for its smallest share in three quarters, ship tracking data obtained from sources showed.
The first vice president stated that the refining industry is considered a strategic industry for the country, emphasizing that priority in expanding refinery capacity should be given to incomplete development projects.