Iran’s President Masoud Pezeshkian said that controlling gas flaring is a priority.
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India’s average daily natural gas consumption dropped to around 190 million metric standard cubic meters per day (mmscmd) in the first seven months of fiscal year 2026, a 4.6% decline from the previous year, driven by reduced power sector offtake, higher LNG prices, and maintenance shutdowns in refineries and fertilizer plants, according to a Crisil Intelligence report.
Brent crude oil futures rose 12 cents (0.19%) to $62.36 per barrel. U.S. West Texas Intermediate (WTI) crude futures increased 19 cents (0.33%) to $58.54 per barrel.
India’s operational natural gas pipeline network has grown to 25,429 kilometers, advancing the country’s goal of a fully integrated national gas grid that promotes energy security and delivers cleaner fuel to every region.
Russia has nearly doubled its liquefied petroleum gas (LPG) exports to former Soviet republics in Central Asia and Afghanistan in the first 11 months of the year, reaching 1.016 million metric tons, according to industry sources who spoke to Reuters on Friday.
The chief executive of Petropars Group said the operational capacity of the South Azadegan joint oil field has increased to 160,000 barrels per day, citing the start-up of the second train of the central processing facility and the gradual return of wells to production.
Iran’s oil sales volume remains strong and continues at previous levels, Oil Minister Mohsen Paknejad said on Thursday.
Brent crude futures settled 14 cents lower (0.2 percent) at $62.24 per barrel. U.S. West Texas Intermediate (WTI) crude futures declined 3 cents (0.05 percent) to $58.29.
The White House has directed U.S. forces to prioritize enforcing a quarantine on Venezuelan oil for the next two months. This signals Washington’s preference to pressure Caracas through economic leverage rather than military action.
India's largest oil refiner, Reliance Industries Ltd., has resumed oil purchases from Russia for its plant in Gujarat. This was reported by Bloomberg, citing sources.
The CEO of the National Petrochemical Industries Company (NPC) described health, safety and environment (HSE) as an organizational value and said decisions in this area must be made in an integrated manner and aligned with national interests.
Iran’s oil minister said discounts offered on Iranian crude sales have steadily declined over the past year, while early data from a new gasoline policy show lower fuel consumption, though he cautioned against drawing short-term conclusions.
The front-month Brent crude oil futures contract rose by $0.17 (0.27%) to $62.55 per barrel, while the U.S. West Texas Intermediate (WTI) crude futures contract increased by $0.20 (0.34%) to $58.58 per barrel.
Iraq’s supply of gas from Iran has been halted, the electricity ministry said on Tuesday, adding that the stoppage was due to the shutdown of some generating units and load shedding at others.
A growing backlog of at least 20 tankers loaded with Russian crude has formed off the coasts of India and China, turning vast volumes of oil into floating storage as unloading delays mount despite Russia’s exports hitting a more than two-and-a-half-year high.
The CEO of Ilam Gas Refining Company said extensive measures are underway to reduce gas flaring and protect the environment, noting that flaring at the complex has been cut by about 50% and is moving toward complete elimination.
Natural gas consumption in the household, commercial and small industrial sectors climbed above 655 million cubic meters on Monday as cold weather persisted across the country, according to data from the National Iranian Gas Company.
Brent crude futures rose by 7 cents (0.11%) to $62.14 per barrel. U.S. West Texas Intermediate (WTI) crude increased by 4 cents (0.07%) to $58.05 per barrel.
In 2025, China has supplanted OPEC+ as the key oil price setter by using its import and storage strategy to enforce both a floor and a ceiling on crude prices.
Despite record highs in India’s main indices, several fundamentally strong large-cap stocks are near 52-week lows, creating potential buying opportunities.