Crude Oil

India's Russian fossil fuel imports fell sharply in December, pushing it to third place as Reliance and state refiners cut crude purchases amid sanctions and price caps

Today's Best of BS Opinion covers US tariff threats linked to Russian oil, the Grok AI content debate, small finance banks' record, cracks in India's growth story, and a Cold War spy tale

Denmark has sent a strong signal to Washington, warning that its troops are authorised to respond immediately if Greenland is threatened.

US President Donald Trump has signalled support for a bipartisan Bill that proposes sweeping penalties on countries buying Russian oil.

US President Donald Trump has announced that Venezuela’s interim authorities will hand over up to 50 million barrels of sanctioned oil to the United States.

Saudi Arabia has cut the price of its flagship crude oil to Asia for the third straight month, signalling persistent oversupply in global oil markets.

The stock of Reliance Industries declined 4.5 per cent and ended the session at ₹1,508.90, its biggest one-day decline since June 4, 2024

Venezuela produces only about 0.8 per cent of global crude output despite holding 18 per cent of the world's oil reserves, reflecting years of underinvestment and infrastructure constraints

Crude oil prices are expected to soften significantly in 2026, and they could touch USD 50/barrel by June 2026, a report said on Monday. According to the SBI Research report, the deceleration of prices is likely to be faster, and this could average CPI inflation for FY27 decisively below 3.4 per cent. Benign energy prices will impact the GDP outlook favourably, it said, adding that the expected impact on annual GDP growth is around 10-15 bps. The medium-term trends since 2022 for Brent and Indian basket show that there has been a downward trend in crude prices, it added. The latest event in Venezuela has not impacted the price significantly on the upside, the report pointed out. Brent crude price has been hovering around USD 60 per barrel for the last one week. Since oil prices constitute the largest component in the import basket and cannot be substituted with domestic production in the short term, contraction of the import bill on account of crude import prices will impact the

US President Donald Trump has again warned of higher tariffs on Indian goods, linking trade pressure to New Delhi’s continued purchase of Russian oil. Here’s what was said, India’s response, and where

The vessels, laden with nearly 2.2 million barrels of Urals, are currently signaling the huge Jamnagar complex and are expected to deliver their cargoes early this month

Forex traders said the USD/INR pair traded in a tight range, as support from easing crude oil prices was offset by a positive tone in the US dollar index and foreign fund outflows

Reducing liquid-fuel demand will lower exposure to global oil price shocks as India remains heavily dependent on imported crude oil, said the country's petroleum regulator

Despite multiple flashpoints during the year, oil prices struggled to sustain rallies, highlighting the market's growing sensitivity to excess supply

India's imports of Russian crude oil are set to register a sharp pullback in December, but the decline reflects short-term disruptions rather than a structural shift in sourcing patterns. According to real-time data analytics company Kpler, Russian crude imports into India are expected to fall to around 1.2 million barrels per day (bpd) in December, down from 1.84 million bpd in November, marking the lowest level since December 2022. Indian refiners continue to buy Russian crude from non-sanctioned entities. The drop, flagged by analysts as early as October, has been driven by disruptions resulting from US action on top Russian exporters, Rosneft and Lukoil, as well as due to the impact of EU sanctions on Russian-linked product flows. "India's appetite for Russian crude cooled sharply in December, with imports falling to their lowest levels since 2022 as major refiners cut intake following sanctions on Rosneft and Lukoil. This appears to be a near-term adjustment, with Russian crud

After years of forecasts predicting an imminent peak in oil demand amid a swift shift to renewables, oil and gas made a quiet but unmistakable comeback, with India emerging as a central driver of global consumption. Major energy outlooks - from BP and McKinsey to the IEA - pushed peak oil into the 2030s and revised 2050 demand upward. And every forecaster said India will emerge as the epicentre of global demand growth, with its rise in appetite for energy outpacing that of China and Southeast Asia combined. The revival of the 'Oil is King' narrative in 2025 was fuelled by policy delays, infrastructure bottlenecks, and geopolitical tensions. European nations, long champions of the clean energy transition, leaned more heavily on fossil fuels as supply shortfalls and high prices persisted amid the ongoing Russia-Ukraine war. In the US, President Donald Trump's fossil-forward policies reinforced this trend. The result: oil was back on the centre board. India's oil and gas sector in 202

India's oil imports were worth $9.9 billion, largely unchanged Y-o-Y in November, as global prices slid

Brent crude futures fell $1.11, or around 1.8 per cent, to $59.45 a barrel at 1023 GMT, while US West Texas Intermediate crude was trading at $55.71 a barrel, down $1.11, or nearly 2 per cent

Axis Capital has initiated coverage on ONGC with a 'Sell' rating, citing concerns over production, oil prices, and subsidiary debt

Forecasts from major energy bodies suggest a trend toward inventory builds and moderated prices, contingent on geopolitical stability and production policies