India's oil product demand saw a 3% year-over-year increase in October, likely to continue in November due to higher vehicle sales and robust agricultural sector demand.
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NIDC's head prioritizes increasing productivity from 67% to 90%, focusing on modernizing and renovating drilling equipment to boost efficiency.
The 10th meeting of the Iran-Venezuela Joint Economic Committee began in Caracas, attended by representatives from various public and private companies and institutions.
The head of Iran’s National Petrochemical Company has said that completing the value chain and developing complementary industries is going to ensure a balanced and sustained development of the country’s petrochemical industry.
Global Crude Oil Price Today November 18, 2024
Brent crude futures were up $1.52, or 2.14%, to $72.56 a barrel at 1503 GMT, while U.S. West Texas Intermediate crude futures were at $68.41 a barrel, up $1.39 cents, or 2.07%.
The head of Iranian Oil Terminals Company (IOTC) said his company is implementing new projects to improve oil export infrastructure at Kharg Island, IRNA reported.
Oil production from the Sepehr and Jofeir oil fields has reached 51,000 barrels per day with the commissioning of well number 7 at the Jofeir field.
Natural gas production from the offshore South Pars gas field reached the unprecedented figure of 711 million cubic meters on Wednesday, November 14.
President-elect Donald Trump's promise to slap an across-the-board tariff of at least 10 per cent on all imports including from Canada is unlikely to apply to Canadian oil, energy experts are predicting.
Pars Oil and Gas Co. (POGC) has raised gas production from Phase 11 of the South Pars gas field in the Persian Gulf, according to news service Shana report.
The South Pars Gas Complex's performance includes high-quality maintenance, stable gas production, collaboration with knowledge-based companies, and a flare reduction project in thirteen refineries.
GAIL and Adnoc Gas have signed a 10-year Sales and Purchase Agreement for a long-term contract to purchase up to 0.52 million metric tonnes per annum of liquified natural gas.
India's Union Petroleum Minister, Hardeep Singh Puri, expressed optimism that increased oil production from US, Canada, and Brazil will stabilize global oil markets and reduce price volatility.
Iran's petrochemical export value increased by 24% in the first seven months of the current Iranian calendar year, according to the former head of the Islamic Republic of Iran Customs Administration.
Mohammad Sadegh Azimifard, the CEO of the National Iranian Oil Refining and Distribution Company (NIORDC) has said that oil product consumption has increased by 9 percent.
India's Petroleum Minister, Hardeep Singh Puri, expressed hope that increased oil production from western countries like the U.S. and Canada will stabilize markets and prices.
The Organization of Petroleum Exporting Countries (OPEC) in its latest report has said Iran produced 3.259 million barrels per day (bpd) of crude oil in October, while the figure was 3.327 million bpd in September.
Global Crude Oil Price Today November 13, 2024
Brent futures rose 14 cents, or 0.2%, to $72.03 a barrel by 0745 GMT, while U.S. West Texas Intermediate (WTI) crude futures gained 13 cents, or 0.2%, at $68.25.
Days after a blast triggered a fire at its Gujarat refinery resulting in the death of one person, Indian Oil Corporation (IOC) reported a fire at its Mathura refinery on Tuesday (November 13, 2024).
The OPEC Monthly Oil Market Report provides insights into short-term global oil market developments, including economic, price, consumption, production, trade, and tanker market.