World crude oil price today May 26, 2025
Brent crude futures rose 39 cents, or 0.6 percent, to $65.17 a barrel, while U.S. West Texas Intermediate crude rose 33 cents, or 0.5 percent, to $61.86 a barrel.
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Trade between Iran and South Korea reached nearly $56 million in the first four months of 2025, highlighting ongoing commercial ties despite external challenges and a decline in Iran's exports.
The CEO of the National Iranian Oil Company (NIOC) stressed the need to expedite the implementation of projects by the Iranian Offshore Oil Company (IOOC) in the Persian Gulf.
The deputy CEO of the National Iranian Drilling Company (NIDC) announced the drilling and completion of 20 onshore oil and gas wells in the first two months of this year (March 21-May 21) using the company’s rigs.
The head of safety and firefighting at National Iranian Petrochemical Company announced that digital transformation and artificial intelligence strategies will be added to future safety and firefighting programs in the petrochemical industry.
The International Energy Agency (IEA) has again found its ‘missing barrels’. Although the term should be viewed as a misnomer. Barrels are never actually missing; it is just that global demand for oil is being materially under-counted.
The caretaker of Iranian Gas Engineering and Development Company announced progress on strategic projects in gas storage, transmission, measurement, and optimization, stating that the country’s gas storage capacity will more than double with the launch of expansion projects in Sarajeh and Shourijeh.
World crude oil price today, May 23, 2025
Brent crude fell 22 cents, or 0.3 percent, to $64.22 a barrel. U.S. West Texas Intermediate crude fell 21 cents, or 0.3 percent, to $60.99.
India is ready to increase energy imports from the United States as it seeks supplies from whichever source is most suitable to power the expansion of the world's most populous country, Minister of Petroleum and Natural Gas Hardeep Singh Puri told Newsweek.
World crude oil price today, May 22, 2025
Brent crude futures fell 90 cents, or 1.4 percent, to $64.01 a barrel. U.S. West Texas Intermediate crude fell 85 cents, or 1.4 percent, to $60.72.
China drove global oil demand growth over the last decade, but now India is poised to take the lead in demand growth over the next decade, according to a latest report by Moody's Ratings.
A member of the Iranian Parliament’s Energy Committee emphasized the committee’s support for attracting investment in the oil and gas sector, stating that the legislature is focused on passing laws and regulations to facilitate domestic and foreign investment in the energy sector.
The Directorate of Exploration of the National Iranian Oil Company (NIOC) has embarked on centralized studies over recent years to explore unconventional resources.
World crude oil price today May 21, 2025
Brent crude futures rose 79 cents, or 1.2 percent, to $66.17 a barrel. U.S. West Texas Intermediate crude rose 82 cents, or 1.3 percent, to $62.85.
India's Russian crude oil imports will hit close to 1.8 million barrels per day in May, the highest in 10 months, ship tracking data from Kpler showed, after refiners snapped up more light grades such as ESPO Blend.
Iran’s Oil Minister and Turkmenistan’s Foreign Minister have emphasized deepening bilateral cooperation in the oil and gas sector and discussed avenues to broaden energy collaboration.
The production and operations manager of Pars Oil and Gas Company (POGC) announced the completion of the overhaul of the South Pars Phase 14 gas platforms and their return to operation.
World crude oil price today, May 20, 2025
Brent crude futures fell 7 cents, or 0.1 percent, to $64.75 a barrel. U.S. West Texas Intermediate crude futures fell 5 cents, or about 0.1 percent, to $62.1 a barrel.
Saudi Arabia is expected to burn more crude oil for power generation this summer than last as it ramps up output after OPEC+ eases supply controls and as fuel oil has become costly, analysts and trade sources said.
India has invoked emergency measures that require gas-fired power stations to produce more in order to ensure uninterrupted electricity supply during the summer season, as soaring temperatures boost demand.