Page 3 - Oil Market

Can the oilfields amendment Bill allay concerns, attract global drillers?

India imports nearly 90% of its crude oil, half of its natural gas, and over 60% of LPG

Oil declines nearly 3% on signs of progress in US-Iran talks, demand fears

Brent crude futures were down $1.84, or 2.7%, at $66.12 a barrel by 10:48 a.m. EDT (1448 GMT), after closing up 3.2% on Thursday

US futures, oil dive as markets hungry for rapid tariff cuts from Trump

Investors had thought the loss of trillions of dollars in wealth and the likely body blow to the economy would make Trump reconsider his plans

Trump tariffs: With crude off the table, US nudges India towards LNG

Importers signal willingness, but warn of drawn-out talks

Oil prices hold steady as fuel drawdown offsets strong dollar impact

US government data showed a higher-than-expected drawdown last week in distillate inventories, including diesel and heating oil, which fell by 2.8 million barrel

India's edible oil imports hit 4-year low due to depleting inventories

Lower-than-normal imports for the second straight month have depleted stocks in the world's biggest buyer of vegetable oils

Oil prices steady as tariff concerns, OPEC+ output weigh on market

Last week marked WTI's seventh consecutive weekly loss, the longest losing streak since November 2023, while Brent fell for a third consecutive week

Opec+ mulls delaying April oil supply restart amid market concerns

The OPEC+ alliance first unveiled its plans for gradually reviving production in June last year, but with oil demand growth slowing in China and new supplies across the Americas swelling

Oil retailers pick 26 PACS to set up retail petrol, diesel outlets: Shah

Oil marketing companies have selected 26 Primary Agricultural Credit Societies (PACS) out of 286 applications for setting up retail petrol and diesel outlets, Cooperation Minister Amit Shah told Parliament on Tuesday. In a written reply to the Lok Sabha, Shah said the government has allowed PACS to operate retail petrol and diesel outlets and LPG distributorship. As informed by Oil Marketing Companies (OMCs), 286 PACS from 25 states and Union Territories have submitted online applications to establish retail petrol/diesel outlets, of which 26 PACS have been selected by OMCs, he said. Under conversion of PACS, Wholesale Consumer Pumps into retail outlets, OMC reports indicate that 116 PACS from five states have agreed to this conversion, and 56 PACS have been commissioned. For LPG distributorship, two PACS have applied for the two advertised locations in Jharkhand. As per the revised guidelines, PACS have been included under Combined Category 2 (CC-2) for retail petrol/ diesel ...

Oil prices rise despite concerns over US tariffs, trade war risks

Trump said on Sunday that the US is making progress with Russia to end the Ukraine war, but he declined to provide details about any communications with Russian President Vladimir Putin

Chevron posts weak profit as refining biz suffers first loss in four years

Chevron's downstream business lost $248 million in the fourth quarter of 2024, compared with a profit of $1.15 billion in the same period a year ago

Russian oil refining increases as US sanctions disrupt crude exports

Russian refining runs rose by 2 per cent, or by 108,000 barrels, to 754,800 metric tons a day on Jan 15-19 from the first week of the year, according to the sources

Oil drops $1 on halt in Houthis' Red Sea attacks, US retail boost

The attacks have disrupted global shipping, forcing firms to reroute to longer and more expensive journeys around southern Africa for more than a year

India expects uninterrupted Russian oil supply for next two months

Global Brent crude futures extended gains to climb above $81 a barrel on Monday, their highest since August, on expected disruption of Russian oil supply to China and India

Tougher US sanctions to curb Russian oil supply to China and India

Russian oil exports will be hurt severely by the new sanctions, which will force Chinese independent refiners to cut refining output going forward, two Chinese trade sources said

Crude prices jump more than 3% on concerns over more US sanctions on Russia

The document, purported to be from the U.S. Treasury, was being circulated among traders in Europe and Asia. Reuters could not verify the veracity of the document

Oil prices rise on China stimulus hopes; Brent, WTI set for weekly gain

However, a stronger US dollar capped oil price gains. The US currency has been boosted by expectations that the incoming Donald Trump administration's policies will boost growth and lift inflation

State refiners may buy Middle East spot oil to replace Russian shortfall

The refiners fear continued problems in securing Russian oil in the spot market could continue in coming months

Middle East share of India's Nov oil imports at 9-month high; Russia down

Refiners in India have been gorging on cheaper Russian oil despite problems posed by sanctions aimed at reducing Moscow's oil revenue

Crude oversupply likely to hit 950,000 barrels per day next year, says IEA

Unwinding of ongoing production cuts by Opec+ not enough to counter tepid oil demand growth