Brent crude futures slipped 8 cents, or 0.1%, to $63.18 per barrel. U.S. West Texas Intermediate (WTI) futures dropped 14 cents, or 0.2%, settling at $59.53 per barrel.
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India is expected to drive over 40% of global oil demand growth by 2035, highlighting its central role in future energy markets.
Putin vowed to keep Russia a “reliable supplier” of fuel to India despite U.S. pressure over the Ukraine war.
Brent crude oil price rose by 41 cents, or 0.65%, to $63.08 per barrel, while U.S. West Texas Intermediate (WTI) crude increased by 45 cents, or 0.76%, to $59.40 per barrel.
Venezuela’s crude and fuel exports climbed 3% in November to 921,000 barrels per day, the third-highest monthly level of 2025, Reuters reports.
Russian President Vladimir Putin arrives in India for a high-stakes summit with Prime Minister Narendra Modi, aiming to deepen energy, defense, and trade ties despite mounting U.S. tariffs and sanctions.
Brent crude futures rose 26 cents, or 0.4 percent, to $62.71 a barrel. U.S. West Texas Intermediate (WTI) futures rose 29 cents, or 0.53 percent, to $58.95 a barrel.
India plans to cut Russian crude imports by half due to new U.S. sanctions, though both countries are seeking ways to maintain some discounted oil flows despite Washington’s pressure.
The National Iranian Oil Company (NIOC) has officially kicked off the second phase of development at the Azar oilfield, targeting an increase of approximately 30,000 barrels per day in crude production.
Over 92% of Iran’s electricity still comes from fossil fuels, prompting government efforts to boost renewable energy and address its persistent energy imbalance.
Futures for Brent crude oil rose 14 cents, or 0.2%, to $63.31 per barrel. U.S. West Texas Intermediate (WTI) crude oil futures also climbed 18 cents, or 0.3%, to $59.50 per barrel.
Two supertankers are delivering 4 million barrels of Guyanese crude to India—the first direct shipments since 2021—as refiners seek alternatives to sanctioned Russian oil.
The Yaran Field project manager announced that Well No. 22 has been successfully equipped with an electric submersible pump, tested, stabilized, and connected to the production network.
Futures for Brent crude climbed by 94 cents (1.51 %) to settle at US$ 63.32 per barrel. U.S. West Texas Intermediate (WTI) crude also gained, rising 90 cents (1.54 %) to US$ 59.45 per barrel.
Kazakhstan protested to Kyiv after a Ukrainian naval drone strike damaged the CPC terminal near Novorossiysk, halting oil exports and prompting demands to stop such attacks.
Canadian oil and gas stocks are surging despite weak global crude prices, driven by U.S. investment, the Trans Mountain pipeline expansion, and low oil sands breakeven costs.
In a testament to precision engineering and unwavering safety standards, employees of Iran’s Offshore Oil Company (IOOC) have successfully wrapped up a grueling overhaul of the floating hoses on the nation’s sole floating production storage and offloading (FPSO) vessel, the Cyrus.
Saudi Arabia, Russia, Iraq, the UAE, Kuwait, Kazakhstan, Algeria, and Oman reaffirmed commitment to market stability on steady global economic outlook and current healthy oil market fundamentals as reflected in low inventories.
OPEC+ plans to halt production hikes in early 2026, scaling back market-share ambitions amid looming oversupply risks.
head of the National Iranian Oil Company announced the start of drilling operations for development wells at the Belal field, relying on the expertise of Iranian engineers.