Crude oil

Oil Price

India Topped Its Strategic Petroleum Reserves With $19 A Barrel Oil

India used the ultra-low crude oil prices earlier this year to top its strategic petroleum reserves with oil at $19 a barrel.

Oil Field

CNOOC Starts up Fifth Project off China in 2020

Chinese oil and gas company CNOOC has produced first oil from the Liuhua 16-2 and 20-1 joint development project in the South China Sea.

Oil & Gas Trade

China’s Crude Oil Imports are Slowing Down

China’s imports of crude oil have been trending much lower in September than in the past four months, while the rest of Asia is also significantly slowing impo…

Oil Price

Diesel Prices Fall Again on the Back of Easing Global Crude Oil Prices

Diesel prices continued to decline for the fourth consecutive day on Sunday on the back of falling global crude prices. In the national capital, diesel was pric…

Crude Oil

U.S Keeps Top Crude Oil Producer Status

Despite oil production curtailments earlier this year that are not fully back online, the United States maintained its global status as the leading supplier of …

Crude Oil

Venezuela Prepares To Boost Oil Production With Iranian Help

Venezuela is preparing to ramp up its crude oil production using diluents imported from Iran, citing unnamed sources and company documents.

Crude Oil

World’s No.1 Oil Trader Sees Crude Inventories Shrinking This Year

Vitol Group, the world’s largest independent oil trader, expects global oil inventories to continue drawing down for the rest of the year, unlike its rivals an…

Crude Oil

EIA: OPEC+ Crude Oil Production Increased in August

Both OPEC and non-OPEC partner countries increased their crude oil production in August.

Crude Oil

China’s August Crude Runs Hold at 14mn b/d

China's crude throughputs held largely steady near record highs in August, keeping pressure on refiners to manage high product inventories.

Oil Price

OPEC Cuts Oil Demand Forecast For 2020, Again

OPEC revised down by another 400,000 bpd its forecast for global oil demand this year, expecting consumption to shrink by 9.5 million bpd over 2019.

Oil Pipeline

Uganda and Tanzania Sign $3.5bn Oil Pipeline Deal

Tanzania and Uganda have signed an agreement allowing for the construction of a 1,445 km crude oil pipeline.

Oil Price

Russia’s Central Bank Warns That Oil Could Slide To $25

Russia’s central bank has warned that crude oil prices could slump to $25 in its risk scenario for monetary policy over the next three years, TASS reports.

Crude Oil

COVID-19 Forces Libyan Oil Companies To Halt Operations

Two of Libya’s National Oil Company affiliates on Monday sent some oil workers home and halted some work due to the spread of Covid-19, according to a NOC stat…

Crude Oil

Mexico CoMexico Could Be Forced To Cut Oil Production Target For 2021

Mexico will likely cut its crude oil production targets for next year, citing a ruling party lawmaker in Mexico.

Crude Oil

OPEC Production Rises By 950,000 Bpd In August

OPEC produced more oil in August than it did in July as the cartel continued to relax its production cuts, a Reuters survey has revealed, with recovering demand…