Oil supply

Oil Price

Oil up Nearly 5% on Possible Extension of Saudi Output Cuts

Oil prices rose nearly 5% on Thursday on a possible extension of voluntary output cuts by Saudi Arabia into April, as OPEC ministers and their allies continued …

OPEC

Saudi Arabia And Russia Are Headed For Another Clash On OPEC+ Oil Cuts

The leaders of the OPEC+ alliance, Saudi Arabia and Russia, are reportedly once again at odds over oil supply management ahead of another crucial meeting of the…

Crude Oil

India Urges OPEC+ to Ease Production Cuts

"The price-sensitive Indian consumers are affected by rising petroleum product prices," Pradhan said ahead of a March 4 policy-setting meeting of the Organizati…

Oil Price

OPEC Withheld 1.3 Billion Barrels Of Oil To Prop Up Prices

The Organization of Petroleum Exporting Countries withheld some 1.3 billion barrels of oil supply last year to keep prices from falling even further, the secret…

Oil Price

How Will Biden’s Presidency Impact South America’s Oil Boom?

Much has been made of President-elect Joe Biden’s energy policies and the negative impact they will have on the U.S. oil industry, which is laboring to survive…

Oil Price

Oil Price Headed up Towards $50 per Barrel in 2021: S&P Global Platts

Brent crude, the global benchmark for oil prices, is likely to remain around $40 per barrel in the rest of the current calendar year but could be headed towards…

Oil & Gas Trade

Brazil Soars to China's No. 3 Crude Oil Supplier in Sept

Brazil jumped to China's third-biggest crude oil supplier in September,as China's independent refiners scooped up cheap supplies of the South American exporter'…

Oil Pipeline

Will America's Pipeline Operators Survive the Oil Crisis?

Pipeline utilization by mid-stream US oil and gas companies has fallen sharply in recent months.

Oil & Gas Trade

Venezuela Oil Exports Climb As OPEC Agreement Kicks In

​While OPEC begins to scale back oil production to offset at least partially some of the world’s excess oil supply, Venezuela was busy ramping up its oil expo…

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.

Oil&Gas Drilling

Non OPEC+ Crude Oil Supply Cuts

The Organization of the Petroleum Exporting Countries and its allies, known as OPEC+, agreed on Sunday to reduce output by 9.7 million barrels per day (bpd).

Oil Shale

Saudi Arabia Denies Trying to kill US Shale, Shifts Blame for Oil Supply Glut on Russia

Rejecting the accusation as “fully devoid of truth,” Saudi Foreign Minister Prince Faisal bin Farhan Al-Saud insisted that the Kingdom is and has always been …

Crude

OPEC+ Panel Calls for More Oil Cuts on Coronavirus Impact

An OPEC, non-OPEC technical panel has recommended extending a current oil supply cut pact until the end of 2020 and more output reductions due to the impact of …

Oil & Gas Trade

India Exploring Ways to Source Crude Oil from Russia: Pradhan

India is exploring ways to source crude oil from Russia, Oil Minister Dharmendra Pradhan said. “We are working on the strategy to diversify our crude oil suppl…

Oil & Gas Trade

India, Russia Initiate Talks for Long-Term Oil Supply

India and Russia have begun negotiations on an agreement for long-term assured supplies of crude oil, especially from Russia’s Far East region, as New Delhi lo…