Brent crude futures fell 53 cents, or 0.8 percent, to $67.44 a barrel. U.S. West Texas Intermediate crude was trading at $62.83 a barrel, down 62 cents, or 1 percent.
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India’s industrial output slowed to 4% in August 2025 from 4.3% in July, hit by weak consumer demand and US tariffs on Russian oil imports. Manufacturing, capital goods, and consumer non-durables dragged growth, while mining and infrastructure showed resilience.
The CEO of the National Iranian Oil Company marked National Firefighting and Safety Day by highlighting the bravery of the oil industry’s firefighters and emphasizing the importance of health, safety, environment, and employee well-being in all oil sector activities.
Iran has broken its oil production record for the first time in seven years following new development measures in its oil fields, the oil minister said.
Brent crude futures fell 43 cents, or 0.6 percent, to $69.70 a barrel. U.S. West Texas Intermediate crude fell 49 cents, or 0.8 percent, to $65.23 a barrel.
Russia-backed Indian refiner Nayara Energy is exporting oil products through sanctioned tankers and tapping new markets this month as it revives overseas sales in the aftermath of crippling sanctions, LSEG and Kpler shipping data shows.
The Phase 14 refinery of the South Pars gas field has been handed over to the South Pars Gas Complex (SPGC) as its final operator.
The National Iranian South Oil Company (NISOC) is prioritizing both production continuity and environmental protection, the company’s managing director said.
The head of Khangiran operational zone said that despite sandstorms, extreme heat, and even a 12-day war, the workforce carried out more than 170,000 safe work hours of overhauls to prepare the facilities for maximum production in winter.
The Tehran Gas Company has begun installing emergency gas vent towers in the capital as part of a project to strengthen the city’s resilience to earthquakes and natural disasters.
The National Iranian Oil Company has delivered more than 130 exploratory wells to operating companies, with about 70% of them ready to enter oil and gas production after repair and completion work, a senior official said.
Oil India Ltd has discovered natural gas reserves off the Andaman Islands, the State-owned firm said without putting an estimate of the size of the find.
India has imported a large shipment of Iranian crude for the first time in years, raising speculation that New Delhi may be preparing to resume broader purchases despite U.S. sanctions.
Brent crude rose 21 cents to $69.63 a barrel, while U.S. West Texas Intermediate (WTI) crude rose 32 cents to $65.30 a barrel.
U.S. President Donald Trump has pressed Turkish leader Recep Tayyip Erdogan to stop buying Russian oil, signaling that Ankara could gain access to F-35 fighter jets and relief from defense sanctions if it aligns with Washington’s push to isolate Moscow.
Indian officials have again told the Trump administration that a significant reduction in Russian oil imports by the South Asian nation’s refiners would require Washington to instead allow crude purchases from sanctioned suppliers Iran and Venezuela.
The launch of a mobile desalting unit at the Cheshmeh-Khosh oil field has removed production restrictions and marked a major step in cooperation with the National Iranian Oil Company, according to the head of ZN Vostok.
Brent crude futures fell 49 cents, or 0.7 percent, to $68.82 a barrel, while U.S. West Texas Intermediate crude futures fell 54 cents, or 0.8 percent, to $64.45 a barrel.
Iran has increased output at the Cheshmeh-Khosh oil field by 14,000 barrels a day after launching a mobile desalting unit, raising total daily production to 114,000 barrels, the head of the Petroleum Engineering and Development Company (PEDEC) said Wednesday.
Iran’s oil minister said Wednesday that the snapback mechanism would not create new obstacles to crude oil sales, stressing that the government has plans in place should challenges arise.