Page 2 - Crude Oil

Rupee slips 10 paise to close at 89.97 against dollar amid fund outflows

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

India can save $1 bn in crude imports by replacing 10% diesel with LNG

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

Crude oil outlook for 2026 remains range-bound amid persistent supply glut

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

India's Russian oil imports fall in December, but demand stays structural

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

Oil makes a comeback amid transition hype, with India driving demand

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 crude oil import bill flat in November despite higher purchases

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

Crude drops below $60 as Russia-Ukraine peace hopes weigh on prices

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 starts coverage on ONGC with 'Sell'; sees 14% downside

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

Crude oil outlook: WTI seen at $55-60 as Asian demand offsets rising supply

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

India's crude oil loadings from Russia dip, but robust in December

Unless wider secondary sanctions are introduced, India is expected to continue sourcing from non-sanctioned Russian suppliers, say experts

OMCs may see rerating as crude stays soft, GRMs strong and LPG losses ease

The next few quarters could favour downstream refiners and marketers over upstream, with Brent expected to stay in a $60-65 range or drift lower, while GRMs remain strong and LPG under-recoveries ease

Near-term margin pressure for city gas distribution companies' stocks

Since administered pricing mechanism (APM) and new well gas (NWG) prices are tied to global prices, which are tied to crude, this may be a positive

Saudi Arabia cuts crude rates as India buys more oil from the US, Russia

Saudi Arabia is offering more competitive rates amid widening discounts of $5-7 per barrel offered on Russian Urals barrels and a surge in purchases of US crude oil by India

India's crude security holds as refiners pivot from sanctioned suppliers

With the November 21 deadline now past, India's Russian crude inflows are easing but not collapsing as refiners pivot to non-sanctioned suppliers, tap alternatives and benefit from soft global prices

Putin in Delhi: Can India plug its $60bn Russia trade gap?

India and Russia are chasing a $100 billion trade goal, but India is staring at a $60 billion trade deficit driven largely by Russian oil.

Rupee hits fresh low against dollar, nears 90/$-mark amid rising pressures

Indian Rupee touched a new record low of 89.97 against the US dollar on December 1, 2025, amid delays in the India-US trade agreement, and limited RBI intervention

Crude oil slips as Russia-Ukraine peace talks advance; WTI seen below $52

WTI plunged 2.5 per cent over the past five trading sessions to $58.05/bbl, shedding 5.5 per cent in the last month and more than 20 per cent since mid-June highs near $73/bbl

India's Russian oil imports set to fall to three-year low in December

This month, India is expected to receive 1.87 million bpd of Russian crude, provisional data from Kpler showed

US sanctions risk leaving 48 million barrels of Russian oil stranded at sea

Washington's move last month to blacklist top oil producers Rosneft PJSC and Lukoil PJSC is arguably its most aggressive to date under the current administration

Reliance stops Russian crude imports at SEZ refinery ahead of US–EU sanctions

Reliance Industries has halted Russian crude oil imports for its export-oriented refinery in Jamnagar, shifting fully to alternative sources ahead of new US and EU restrictions.