Crude oil

Oil & Gas Trade

Indian Refineries Slash Middle East Oil Imports As Storage Fills Up

Two oil refiners will be cutting their crude oil imports from Saudi Arabia by between 66 percent and 80 percent for May, as India – population 1.3 billion peop…

Oil Price

US Oil "Technically Worthless," and Coal Plants Shuttered, as a Tidal Wave of Bankruptcies Looms

May contracts for West Texas Intermediate (WTI) crude oil went as low as -$37.63 on Monday.

Crude Oil

Trump Says "Looking to" Add 75 mln Barrels of Oil to Strategic Petroleum Reserve

U.S. President Donald Trump said on Monday that the United States is "looking to" add 75 million barrels of oil to its Strategic Petroleum Reserve (SPR) as oil …

Crude Oil

Mexico's President Fears The Economic Consequences As Oil Prices Go Negative

Mexico will try to reduce spending with additional austerity measures amid the coronavirus pandemic and the oil price collapse, but it will not dismiss governme…

Crude Oil

Trump Calls for U.S. Oil Industry Bailout as Prices Plunge

U.S. President Donald Trump said on Tuesday he has asked his cabinet to devise a plan to inject cash into the ailing U.S. oil-drilling industry to help it survi…

Crude Oil

China Doubled Crude Oil Storage Inflows During Coronavirus Demand Hit

China pushed crude oil into storage tanks almost twice as fast in the first quarter of this year as it did in the same period in 2019.

Crude Oil

OPEC Still has an Important Role to Play in Global Oil Market

Scan Western news about OPEC from the last few years, and a common observation tends to appear: OPEC had a huge influence on the global oil market back in the d…

Oil Price

Oil Prices Hit $15 For The First Time In 21 Years

A gruesome combination of crumbling demand for crude and global storage filled to its brim has pushed oil prices to levels not seen in over two decades.

Crude Oil

India Records Lowest Crude Oil Production in at Least 18 Years

India's domestic crude production will fall to 32.173 million tonnes in 2019-2020.

Crude Oil

BPCL Kochi Refinery Takes Steps to Maintain Petroleum Products Supply

Although the COVID 19 outbreak hit demand for gasoline, diesel, fuel oil, asphalt, aviation turbine fuel (ATF) and other petroleum products.

Crude Oil

The Oil Industry's Recovery Lacks One Important Ingredient

The global glut of oil and gas is growing, caused in part by a global blockade by coronavirus.

Crude Oil

Mexico’s Offshore Oil Investment Set To Plunge Despite Government Pledges

Demand for offshore equipment and services is set to drop by an average of 14 percent through 2025, according to the analysts.

Crude Oil

India Dips in to Weakened Crude Market to Fill up its Strategic Oil Reserves

Ministry of petroleum and natural gas has mandated ISPRL to work closely with public sector oil companies including MRPL to achieve the target of filling up Man…

Crude Oil

Demand for OPEC Oil Falls to 30-Year Low

The sharp contraction in global oil demand amid lockdowns and stalled industrial activity will lead to the lowest demand for OPEC crude in more than thirty year…

Crude Oil

Oil Demand Won’t Bounce Back Anytime Soon

Oil demand is expected to be down by nearly 30 million barrels per day (mb/d) in April and down by almost 10 mb/d for the entire year, according to the latest e…