World crude oil price today, May 16, 2025
Brent crude rose 29 cents, or 0.5 percent, to $64.82 a barrel, while U.S. West Texas Intermediate crude rose 27 cents, or 0.4 percent, to $61.89.
NEWS Feed Atom
China has emerged as the top customer for Canadian oil shipped on the expanded Trans Mountain pipeline, ship tracking data showed, as a U.S. trade war has shifted crude flows in the year since the pipeline started operating.
The United States of America has become the world’s fourth largest supplier of crude oil to India, overtaking the UAE. According to Vortexa, an energy cargo tracking firm, India's US crude imports doubled to reach 0.33 million barrels per day (mbd) in April, increasing from 0.17 mbd in the previous year and 0.24 mbd in March.
The CEO of Pars Oil and Gas Company (POGC) outlined necessary measures to advance the gas pressure-boosting project in South Pars, including providing a comprehensive operational plan, making timely decisions and meeting set deadlines.
World crude oil price today May 15, 2025
Brent crude fell $1.99, or 3 percent, to $64.10 a barrel. U.S. West Texas Intermediate (WTI) crude fell $2.05, or 3.3 percent, to $61.10.
Strathcona Resources has sold all of its Montney assets for about $2.84 billion and acquired Hardisty Rail Terminal as part of its "core area consolidation" strategy, the Canadian oil and gas producer said on Wednesday.
In a significant development, the state-owned Oil India Limited (OIL) commenced its exploration and production activities in Tripura by spudding its well at Debtamura in Tripura’s Gomati district, officials said here on Wednesday.
The Isfahan Oil Refinery has successfully produced heptane solvent for the first time in Iran. This product plays a significant role in reducing air pollution by cutting MTBE consumption.
Members of the Organization of the Petroleum Exporting Countries (OPEC) produced a combined 26.71 million barrels per day (bpd) of oil in April, according to the group’s latest report.
World price of Brent crude oil today, May 14, 2025
Brent crude futures fell 64 cents, or about 1 percent, to $65.99 a barrel. U.S. West Texas Intermediate (WTI) crude fell 64 cents, or 1 percent, to $63.03.
India has approved three Russian insurers, including a unit of top lender Sberbank, to provide marine cover to ships arriving at Indian ports, a government notification shows, helping Moscow maintain oil supplies to a key market.
The vice chairman of the Iranian Parliament’s Energy Committee said investment in the upstream oil sector is a strategic move that drives economic growth, improves livelihoods and enhances public services.
The government spokesperson announced that shallow oil well drilling operations have begun along the Caspian Sea coast after nearly 30 years, praising the efforts of the Oil Ministry’s staff.
World crude oil price today, May 13, 2025
Brent crude futures rose 65 cents, or about 1 percent, to $65.61 a barrel. U.S. West Texas Intermediate (WTI) crude rose 72 cents, or about 1.2 percent, to $62.67.
Wage talks between Norwegian oil firms and two labour unions resulted in a deal on Tuesday, industry and union officials said.
As the ceasefire between India and Pakistan sets in, there is a sense that the Indian government could consider further strengthening of strategic petroleum reserves and contingency mechanisms.
Touraj Dehghani, CEO of Iran's Pars Oil and Gas Company, said that his company has four plans to develop gas fields, including Kish, North Pars, Bilal, and Farzad, in the next five years, and its goal is to increase extraction by 200 to 250 million cubic meters.
The CEO of Bandar Imam Petrochemical Complex (BIPC) said the company’s investment in the Marun Petrochemical Diamond Project is a key step toward completing the value chain for its products.
The CEO of Hoveyzeh Persian Gulf Gas Refining Company announced development plans in the upstream sector aimed at ensuring stable feedstock for petrochemical plants. The company has prioritized capturing associated gas from the Darkhovein and West Karun gas fields.
World crude oil price today, May 12, 2025
Brent crude futures rose $2.03, or 3.18 percent, to $65.94 a barrel. U.S. West Texas Intermediate (WTI) crude rose $2.06, or 3.38 percent, to $63.08.