Crude Oil Production

ONGC's KG basin crude output dips to 28K bpd; peak gas expected by mid-2026

ONGC now expects peak gas production of 10 mmscmd from KG-98/2 by mid-2026, even as crude output declines to 28,000 bpd, prompting well interventions and BP-led technical support

Bearish oil outlook: Supply surplus, soft demand to cap WTI near $62

Crude oil Outlook: WTI to trade $57-$62/bbl near-term, with upside to $65+ on Russian disruptions. Bearish base case holds unless geopolitics escalate.

OPEC+ may boost oil production faster than expected, weighs August hike

Since April, OPEC and its partners have pivoted from years of output restraint to reopening the taps, surprising crude traders and raising questions about the group's long-term strategy

Sustained high crude oil prices to hurt downstream players

The fears centre around the possibility of supply routes being interdicted and hence, supply being disrupted, rather than Iranian oil being taken off the market

Strait of Hormuz closure risk may push Brent crude to $90, warns Citigroup

A potential shutdown of the Strait of Hormuz amid rising Gulf tensions could trigger a sharp but brief surge in crude prices, according to Citigroup analysts tracking energy markets

How to trade crude oil? Mohammed Imran of Mirae Asset Sharekhan decodes

Oil markets may face an oversupply in the second half of 2025, alongside potentially weakened demand due to Trump's inclination towards universal tariffs

Oil edges higher on supply concerns while market seeks peace talks clarity

US West Texas Intermediate crude futures for March rose 75 cents, or 1 per cent, to $72.60, up 2.6 per cent from the previous close before Monday's US public holiday

Oil falls on rising US crude stocks, hawkish Fed comments on inflation

Brent futures were down 77 cents or 1 per cent at $76.23 a barrel by 1230 GMT, while US West Texas Intermediate (WTI) crude dropped 88 cents or 1.20 per cent to $72.44 a barrel

Crude Oil: Here's your trading strategy for January 9; target price & more

On Wednesday, Brent crude was down around 1.2 per cent to $76.16/bbl, while US West Texas Intermediate crude fell around, or 1.05 per cent, to $73.47/bbl

Oil dips on demand concerns, focus on US Fed interest rate decision

Brent crude futures eased 32 cents to $73.59 a barrel at 0949 GMT, while US West Texas Intermediate crude was down 44 cents at $70.27 a barrel

Opec+ agrees to delay oil hike plans until April, extends cuts into 2026

Opec+, which pumps about half the world's oil, had been planning to start unwinding cuts from Oct 2024 but a slowdown in global demand and rising output outside the group forced it to postpone plans

Govt pins growth hopes on Trump keeping crude prices low: CEA Nageswaran

He added that low crude oil prices would be a very important ingredient for India's growth prospects

PM Modi visits Guyana: Why South American nation is crucial to India

South American nation has become a significant contributor to world crude supply

Crude oil to remain volatile in Samvat 2081 amid OPEC+ production cuts

Brent crude oil prices saw a considerable decline from the beginning of Samvat 2080 (November 12) until October 28, dropping by 12.33 per cent from $82.52 to $72.34 per barre

Crude Oil: Here's your trading strategy for October 17; target price & more

Crude oil prices have been steadier on Thursday around $70.50/b in Asian hours, ahead of the weekly EIA inventory release from the US.

Crude Oil Strategy today: Check target price, resistance & other key levels

Oil prices showed marginal recovery on Monday to settle a per cent up at $68.71, following its worst weekly fall since October 2023 as WTI fell 8 per cent and Brent was down 10 per cent.

ONGC opens well in Bay of Bengal's KG basin to increase oil production

State-owned Oil and Natural Gas Corporation (ONGC) on Sunday said it has opened another well on its flagship deep-sea project in Krishna Godavari basin in Bay of Bengal, which will help augment production of crude oil and natural gas. In January this year, ONGC had started producing oil, which is converted into fuels like petrol and diesel in refineries, from the KG-DWN-98/2 or KG-D5 block. "On August 24, 2024, ONGC marked a significant milestone by starting production from its fifth oil well in the Block KG-DWN-98/2 Cluster-2 asset," the firm said in a stock exchange filing on Sunday. "Leveraging the floating production, storage, and offloading (FPSO) vessel, ONGC has begun transporting and sale of associated gas, all the while underscoring its commitment to achieving zero gas flaring." It, however, did not state how much the new well was producing. With this, ONGC also successfully commissioned its gas export line from the offshore-to-onshore terminal. "Earlier in January, oil

Cash-rich commodities traders snapping up refineries from Big Oil

Oil majors are also under pressure from institutional investors to cut emissions

Asian shares subdued, yen at record lows; treasuries little changed

Oil prices were flat for the day. Brent futures held at $85.95 a barrel while US crude was little changed at$81.60 a barrel

Windfall tax on petroleum crude cut to Rs 3,250 per MT from Rs 5,200

The tax, which is revised every fortnight, remained unchanged at zero for diesel and aviation turbine fuel