Crude Oil

Petroleum product export earnings fell 13.4% to $3.3 bn in May: PPAC

Lower global crude prices reduced May petroleum export earnings to $3.3 billion even as outbound and import volumes rose and crude processing remained steady

India to lead global oil demand growth by 2030 on economic expansion: IEA

IEA report shows India will add 1 million barrels per day to global oil demand by 2030, driven by GDP growth, rising car use, industrial activity and clean fuel adoption

Datanomics: India gets Russian cushion as Israel-Iran clash heats up oil

The conflict is expected to escalate in the coming days, putting further strain on global oil supplies in the restive West Asian region and making crude oil expensive

Israel-Iran clash: No immediate impact on crude oil supply, say officials

Officials say India's crude and LNG imports remain steady but warn that any hostilities affecting the Strait of Hormuz could threaten oil flows from Gulf partners

Air India crash, crude oil, stock markets, gold tops 1 lakh, Iran-Israel strikes

India's imports of Russian oil hit 10-month high in May, shows data

India's imports of Russian crude oil surged to a 10-month high of 1.96 million barrels per day in May, driven by continued availability at significant discounts compared to global benchmark prices, according to ship-tracking data from Kpler. India, the world's third largest oil importing and consuming nation, bought from abroad around 5.1 million barrels of crude oil, which is converted into fuels like petrol and diesel in refineries. Of this, Russia was the largest supplier, accounting for over 38 per cent of the supplies. Iraq maintained its position as the second-largest supplier, with 1.2 million bpd of sales to India. Saudi Arabia exported 6,15,000 bpd, while the United Arab Emirates (UAE) supplied 4,90,000 bpd. The United States routed out the top five, delivering 2,80,000 bpd, underscoring India's push to diversify import sources and balance geopolitical exposure. "Overall, India's crude import profile for May 2025 highlights its price-sensitive, diversified sourcing strateg

Crude oil price drop likely to result in earnings downgrade for ONGC

Crude oil production was flat quarter-on-quarter (Q-o-Q) and year-on-year (Y-o-Y), while gas production was flat Q-o-Q but declined 6 per cent Y-o-Y

Adani Group denies sanctions evasion, Iran LPG trade amid US probe: Report

The US authorities are probing whether Adani's firms brought Iranian liquefied petroleum gas (LPG) into India via the Mundra port, which his company operates

US sanctions on Russia likely to cripple India's crude oil imports

Russian grades constituted around 39% of India's oil imports in May

China's oil demand to peak in 3-5 years, India's to grow steadily: Moody's

But Chinese production growth set to outpace India's due to investments in offshore and shale gas while Indian firms struggle with ageing wells and slower capital flows

India's Russian oil imports hit 10-month high on strong ESPO crude demand

India's strong demand has led to a rebound in spot premiums for ESPO cargoes delivered to China, the biggest buyer of the crude exported from the Far East port of Kozmino

China's fossil fuel output dips from March highs but rises year-on-year

Gas output rose 8.1 per cent year-on-year to 21.5 billion cubic meters, while crude oil increased 1.5 per cent to 17.7 million tonnes, the statistics bureau said

Crude oil falls as traders consider potential jump in US crude stockpiles

Brent crude futures fell 64 cents, or around 1%, to $65.99 a barrel by 0934 GMT. U.S. West Texas Intermediate (WTI) crude slipped 64 cents, or 1%, to $63.03

Crude oil outlook: WTI may remain-range bound at $56-$60, say analyst

Oil prices have declined 17 per cent for the year-to-date with April marking 18 per cent fall, the biggest monthly drop in prices since November 2021

Discipline & deviation: Opec action to keep oil prices at reasonable levels

Brent crude oil futures were already dipping to nearly $61 a barrel before this announcement, and prices might go below $60 once traders have had a chance to digest this news

Crude oil prices drop as OPEC+ accelerates output hikes, surplus looms

Brent crude futures dropped by 87 cents, or 1.42%, to $60.42 a barrel by 0946 GMT, while U.S. West Texas Intermediate crude was at $57.37 a barrel, down 92 cents, or 1.58%

Saudi Arabia's push into Indian refineries stalled over crude oil supply

The nations agreed last month to collaborate on the two plants, as the largest oil exporter seeks to tap a massive market that will help drive global demand growth

OPEC+ plans to further speed up crude oil output hikes despite weak demand

OPEC+ shocked the oil market in April by agreeing a faster-than-expected unwinding of cuts despite weak prices and demand

Saudi to invest in 2 refineries in India; strengthen crude oil, LPG supply

Both nations to collaborate on India's Strategic Petroleum Reserve, expand talks on green hydrogen

IOC plans to operate Gujarat refinery at higher capacity from mid-2026

IOC is revamping one of the five crude units at the 274,000 bpd refinery in Gujarat to raise overall capacity by 86,000 bpd