“Global Crude Oil Prices on January 23, 2025”
Brent crude futures dipped 2 cents to $78.98 a barrel by 0941 GMT. U.S. West Texas Intermediate crude (WTI) lost 4 cents to $75.40.
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Global Oil Prices as of 23 January 2025
The price of Brent crude oil fell by 1 cent, or 0.01%, to $79.28 per barrel today. Meanwhile, West Texas Intermediate (WTI) crude dropped by $1.99, or 2.56%, trading at $75.89 per barrel.
The second phase of the Ahvaz Central Desalination Plant will be inaugurated during the president’s visit to Khuzestan province, with the oil minister in attendance.
Iran’s Oil Minister Mohsen Paknejad emphasized the continuation of energy cooperation between Iran and Azerbaijan during a meeting with the Azerbaijani Prime Minister’s deputy on Tuesday.
Leader of Iran’s Islamic Revolution Ayatollah Seyyed Ali Khamenei highlighted that the only way to advance the country is by leveraging the capabilities of the private sector.
The price of each barrel of Brent crude oil rose by $0.04, or 0.05%, today, reaching $80.19. Meanwhile, U.S. West Texas Intermediate (WTI) crude fell by $1.14, or 1.46%, trading at $76.74.
President Masoud Pezeshkian stated that imbalances in water, electricity, fuel, finances, and the environment cannot be resolved without reforming consumption patterns.
The CEO of the South Pars Gas Complex announced the supply of two turbines for Refinery 13 from domestic manufacturers, marking a significant step in sustaining gas production.
The drilling manager for West Karoun oilfields at the National Iranian Drilling Company (NIDC) announced that the cumulative progress of drilling 10 wells in the shared South Azadegan oil field has surpassed 90%.
Parsian Gas Refining Company's CEO reported that employee efforts have resulted in the production of nearly 14 billion cubic meters of sweet gas since March 20.
Pars Oil and Gas Company's deputy of development projects reported a 1.7 million cubic meters per day increase in gas production capacity at South Pars Phase 13.
Global Oil Prices as of January 20, 2025
The price of a barrel of Brent crude oil rose by $0.04, or 0.05%, to $80.03 today. U.S. West Texas Intermediate (WTI) crude also increased by $0.17, or 0.04%, to $78.08 per barrel.
India's significant oil purchases following Russia's invasion of Ukraine may change due to U.S. sanctions and India's search for alternative sources.
Iran's residential, commercial, and small-scale industrial sectors consumed 621 million cubic meters of gas due to decreased temperatures, accounting for 72% of the total natural gas production.
The head of exploration at the National Iranian Oil Company (NIOC) announced that exploration drilling in offshore areas will resume after a five-year pause, marking the first such activity under the 14th administration.
The parliamentary deputy to the president stated that hidden energy subsidies in the country amount to a significant sum and are one of the reasons behind the smuggling of energy resources.
The CEO of Abadan Refinery announced that the facility’s daily gasoline production will increase by 8 to 10 million liters as operational conditions stabilize.
The spokesperson for the National Iranian Gas Company announced on Saturday that 867 million cubic meters (mcm) of gas were delivered to the national grid on Friday.
Indian Oil Corp has purchased 7 million barrels of spot Middle Eastern and African crude oil via tenders, including Abu Dhabi's Murban, amid potential U.S. sanctions on Russia.
Iranian Oil Minister Mohsen Paknejad will discuss oil and gas cooperation with Russia in Moscow, Azernews reports.