Page 9 - Crude Oil Supply

US becomes India's second biggest oil supplier, Saudi falls to fourth spot

Iraq continued to be the top oil seller to India despite a 23% decline in purchases to a five-month low of 867,500 bpd, the data showed

Saudi cuts April crude for some Asian refiners, maintains India supply

Saudi Arabia has pledged to continue with an extra 1 million barrels per day voluntary output cut for a third month in April

Oil price slips below $68 as rally fizzles out before US supply report

Oil fell to around $68 a barrel on Tuesday, pressured as concerns faded of a supply disruption in Saudi, which countered a pause in dollar's rally and prospects for tighter supply due to OPEC+ curbs

India asks refiners to diversify, cut reliance on Middle East oil

Most of the OPEC+ producers, led by world's top exporter Saudi Arabia, last week decided to extend most output curbs into April

Crude oil's fate could be in hands of commodity supercycle

OPEC+ will have an important say in how the oil supercycle plays out. Oil prices are now at a level that could bring at least the smaller US operators back and even start to tempt renewed longer-cycle

Oil prices rise amid tight supply as US output slowly returns after storm

Brent crude was up 51 cents, or 0.8%, at $63.42 a barrel

Asian fuel oil margin hits a year high, supply tightness to persist in 2021

The front-month VLSFO margin was at $15 per barrel above Dubai crude on Tuesday, its highest since Feb. 20 and up from $11.75 a barrel at the start of the year, according to Refinitiv data in Eikon

Iraq cuts crude oil supplies for most Indian refiners in 2021: Report

Iraq was the top oil supplier to India in 2020 and a reduction in long-term Basra crude supplies could erode Baghdad's market share in the world's third largest oil importer and consumer

Saudi Aramco cuts February crude supply to some Asian refiners, sources say

Saudi Arabia has cut supplies of February-loading crude by 10% for at least two Asian buyers while meeting requirements of at least three others, several refinery and trade sources said

Oil hits 11-month high near $57 a barrel on tight supply expectations

Saudi Arabia plans to cut output by an extra 1 million barrels per day (bpd) in February and March to keep inventories in check

Delaying production? OPEC plots next move amid seismic oil market divide

The east-west divide is an added conundrum for OPEC+, which on Monday and Tuesday needs to decide whether to delay a production increase slated for January -- and if so, for how long

Opec, allies face seismic demand split; plan to extend output cuts

Bloc set to meet virtually to address key concerns on the back of a disastrous yr

Oil slips from 7-month high on signs of more supply, demand doubts

But Brent was down 81 cents, or 1.7%, at $47.80 a barrel by 1256 GMT on Thursday, having dropped as much as $1

Brazil soars to China's No. 3 crude oil supplier in Sept, overtakes Iraq

Saudi Arabia regained the top spot in China's oil purchases last month after losing that rank to Russia for the previous two months, data showed

Oil prices slip on rising coronavirus cases, oversupply and demand concerns

COVID-19 cases topped 40 million on Monday, according to a Reuters tally, with a growing second wave in Europe and North America sparking various degrees of lockdown measures

Oil drops second day as surging coronavirus cases prompt demand worries

CEOs of the world's biggest trading companies are forecasting a weak recovery for oil demand and little movement in prices

India's June crude oil imports lowest in over 5 yrs; exports fall

Fuel demand in India, the world's third-biggest oil importer and consumer, fell 7.8% in June

Oil pips $40 for first time since March on OPEC cuts, demand recovery seen

Brent has more than doubled after hitting a 21-year low below $16 in April, when U.S. crude went negative

Global oil prices fall to 2002 low; petrol, diesel rates unchanged in India

Petrol and diesel prices in India, however, remained on freeze for the 14th day in a row

Coronavirus impact: The world is running out of places to store its oil

This chaotic mismatch in supply and demand has benefited consumers, who have watched gasoline prices slide lower