Page 43 - Crude Oil

Crude oil prices shrug off Omicron variant slump, soar to 2-month highs

Federal Reserve Chairman Jerome Powell said the economy of the United States, the world's biggest oil consumer, should weather the current Covid-19 surge with only 'short-lived' impacts

Oil gains before US stockpiles data as China tackles Omicron variant

West Texas Intermediate (WTI) added 0.9 per cent after capping a two-day drop

Crude oil prices hold near $80 after OPEC+ output hike decision

Brent crude futures were up 37 cents, or 0.46%, to $80.37 a barrel by 1210 GMT, while U.S. West Texas Intermediate (WTI) crude futures rose 29 cents, or 0.38%, to $77.28

Mexico aims to suspend crude oil exports by 2023: State-owned Pemex

Mexico's state-owned oil company Petroleos Mexicanos (Pemex) is looking to suspend its crude exports by 2023 to allocate all of its output toward domestic consumption, CEO Octavio Romero has said.

India's crude imports hit 10-month peak as refiners bank on strong demand

India's crude oil imports in November rose to their highest level in 10 months as refiners stocked up to boost runs in anticipation of strong demand

IOC to invest Rs 9,028 crore for setting up a new crude oil pipeline

IOCL operates a network of more than 15,000-km long crude oil, petroleum product and gas pipelines

Crude oil prices can hit $100 a barrel in 2022, say analysts

Crude oil market, according to Goldman Sachs, is pricing in a far larger demand hit than during Delta - equivalent to no planes flying for the next three months

India's crude oil production continues to slide; down 2% in November

India's production of crude oil continued to decline in November, with lower output from state-owned firms leading to an over 2% drop, official data released on Tuesday showed

Tumble in spot premiums spurs Asia refiners' buying of Mideast oil

Easing concerns about the impact of new coronavirus variant Omicron on Asia's fuel demand are also supporting Asian refiners' margins, trade sources said.

Oil slips over 1% on bets that crude supply growth will exceed demand

Brent crude futures fell 91 cents, or 1.2%, to $72.79 a barrel, after losing 69 cents on Tuesday

Russia's Rosneft signs deal with Indian Oil to supply crude oil in 2022

Rosneft has signed a deal to supply refiner Indian Oil Corp (IOC) with up to 2 million tonnes of crude next year

Oil up on OPEC+ plan to meet ahead of schedule if Omicron dents demand

U.S. West Texas Intermediate (WTI) crude futures rose 27 cents, or 0.4%, to $66.77 a barrel at 0122 GMT, adding to a 1.4% gain on Thursday.

Iraq's Nov crude exports exceed 98 mn barrels, generate revenue of $7.6 bn

Iraqi Ministry of Oil has said that the country exported 98.19 million barrels of crude oil in November

China non-committal about release of oil from its reserves on US request

US President Joe Biden's administration announced plans to release millions of barrels of oil from strategic reserves in coordination with other large consuming nations

US to sell 32 mn barrels of crude from 4 sites as part of strategic sale

Companies are required to submit bids on Dec. 6 and contracts will be awarded no later than Dec. 14

Explained: How the release of SPR oil is more politics than economics

India agreed to release 5 mn bbl of crude oil from its SPR at an unspecified time

Fighting gas prices, US decides to release 50 million barrels of oil

The government will begin to move barrels into the market in mid- to late-December

India to release 5 mn barrels of crude from reserves in bid to cool prices

This coordinated release of crude oil from strategic reserves will be the first of its kind globally

India working on ways to release of oil reserves after US request

India is working on ways to release crude oil from its strategic storages in tandem with other major economies to dampen prices, a top government official said

Oil prices remain under pressure from both supply and demand factors

Prices of the Brent and U.S. West Texas Intermediate crude benchmarks fell more than $1 in early trading, hitting their lowest since Oct. 1