Oil Production

Fuel protests disrupt Ireland as over third of service stations run dry

Protests over the soaring cost of fuel spread disruption across Ireland on Saturday with many gas stations running dry as truck and tractor drivers staged a fifth day of blockades at the country's sole fuel refinery and several depots. Vehicles blocking traffic led to closures of the main highway around the capital, Dublin, as well as six other major roadways. More than a third of the 1,500 service stations in the republic are out of fuel and that number is expected to grow dramatically if the roadblocks remain, Fuels for Ireland chief executive Kevin McPartlan said. Irish police put all its officers on notice they could be called to duty over the weekend and the military was on standby to help remove the vehicles as the government was due to renew talks Saturday to resolve the dispute. Frustration over the soaring cost of fuel led to the protests that began Tuesday and have continued to grow as word spread on social media. Government officials, who had already introduced measures

India set to receive first Iranian oil cargo in 7 years: Report

State-run Indian Oil Corp purchased the cargo, currently on the Curacao-flagged very large crude carrier Jaya, which is heading to India's east coast and is set to arrive later this week

Opec+ agrees to boost oil output by 206,000 bpd when Hormuz reopens

Other group members such as Russia are unable to increase output due to Western sanctions and damage to infrastructure inflicted during the war with Ukraine

An oil shock, a green opportunity for India's clean energy transition

A global supply squeeze is nudging India faster towards renewables, even as China stays far ahead

Japanese PM Takaichi orders review of entire supply chain for oil products

Takaichi assigned the task to Trade Minister Ryosei Akazawa on Tuesday morning at a meeting with relevant ministers

StatsGuru: Crude reality of India's import dependence to meet fuel demand

In each of the past 12 years, there has been a drop in domestic crude production

Trump to invoke Cold War era powers for offshore oil producer Sable

The planned order comes as Trump faces heavy political pressure to confront rising fuel prices before the November midterm elections

Saudi Aramco cuts output at two oilfields amid Strait of Hormuz crisis

Several of Saudi Arabia's neighbours have also cut production as shipping in oil transit chokepoint, carrying roughly a fifth of global oil and liquefied natural gas flows, has ground to a near halt

Saudi, UAE pipelines may cushion oil shock, decide outcome of Iran war

The strait is a choke point for about 20 million barrels a day of crude and refined products - equal to a fifth of global consumption

Urged India to buy Russian oil at sea to ease supply fears: US energy secy

The US has urged India to buy Russian oil already floating at sea and redirect it to Indian refineries to "tamp down" fears of supply shortages and price spikes amid the ongoing West Asia conflict, Energy Secretary Chris Wright has said. However, the move, he said, is a short-term, pragmatic effort to stabilise the market and did not signal any change in Washington's policy towards Russia. In an interview with CNN on Sunday, Wright said he, along with Treasury Secretary Scott Bessent, had spoken to Indian authorities about buying Russian crude cargoes currently waiting to be unloaded at Chinese refineries. "India has been a great partner through this. I did call up the Indians, as did Treasury Secretary (Scott) Bessent, and said there's a whole bunch of oil floating waiting to unload at Chinese refineries. "Instead of having it wait six weeks to unload there, let's just pull that oil forward, have it land in Indian refineries and tamp this fear of shortage of oil, tamp the price ..

West Asia crisis: Oil market chaos to deepen as more Gulf giants cut output

For oil analysts, executives and traders, that has meant ever-louder warnings that the war is bringing crude to a tipping point, and closer to the psychological $100-a-barrel threshold

Why West Asian conflicts send shockwaves through global energy markets

As tensions rise in West Asia, disruptions at major oil and gas hubs are shaking global energy markets, highlighting how deeply the world depends on the region's powerful producers

OPEC+ set to ratify March output pause as Iran risks lift oil prices higher

OPEC+ is expected to extend its pause on oil production increases in March, even as geopolitical tensions and Iran-related risks push crude prices higher

ONGC, BP tieup boosts oil production from Mumbai High by 3,500-4,000 bpd

ONGC had onboarded BP as Technical Services Provider (TSP) for Mumbai High in February 2025 to boost production, while retaining ownership and operational control of the field

'Govt pivots crude sourcing for certainty, keeps select Russian barrels'

India's crude oil sourcing strategy has shown a clear shift toward lower-risk and more execution-reliable supply, with the Middle Eastern barrels gaining share as Russian crude flows remain present but increasingly selective and compliance-driven. Import of Russian crude oil dropped to around 1.1 million barrels per day in the first three weeks of January, from an average of 1.21 million bpd in the previous month and over 2 million bpd imports in mid-2025, according to data from real-time analytics company Kpler. India, which is almost 90 per cent dependent on imports to meet its needs for crude oil - the raw material which is turned into fuels such as petrol and diesel in refineries, is again leaning on its traditional suppliers in the Middle-East. Iraq is now supplying almost the same volumes as Russia, up from an average of 9,04,000 bpd in December 2025, according to Kpler data. Volumes from Saudi Arabia too have risen to 9,24,000 bpd this month, from 7,10,000 bpd in December and

Analyst holds bearish long-term outlook for crude oil; WTI to slide to $52

While Brent should retain a geopolitical risk premium, it is similarly forecasted to retreat toward $56-$57/b as supply growth from non-OPEC+ producers outweighs softening demand

Flagship Russian crude sinks in China after Indian buyers pull back

In a sign of the overall trend, Russia's oil exports recently fell to the lowest since August, as Moscow faced mounting difficulties in delivering barrels to key buyer India

'New US sanctions threaten to disrupt India's Russian crude oil lifeline'

India's imports of Russian crude oil - the feedstock for fuels like petrol and diesel - are expected to drop sharply in the near term but not halt entirely as new US sanctions on Moscow's top oil exporters take full effect, analysts said. US sanctions on Rosneft and Lukoil, and their majority-owned subsidiaries, took effect on November 21, effectively turning crude linked to these firms into a "sanctioned molecule". India's crude oil imports from Russia, averaging 1.7 million barrels per day (bpd) this year, remained firm ahead of the cutoff, with November arrivals projected at 1.8-1.9 million bpd, as refiners maximise discounted purchases. But flows are expected to drop noticeably in December and January, with analysts estimating near-term declines to around 4,00,000 bpd. Traditionally, reliant on Middle Eastern oil, India significantly increased its imports from Russia following the February 2022 Ukraine invasion. Western sanctions and reduced European demand made Russian oil ...

Opec+ weighs small oil output hike for December ahead of key meet

Key members of the group led by Saudi Arabia are discussing a hike of about 137,000 barrels a day - matching those made in October and November

While Modi conceals, Trump reveals: Cong after US Prez repeats oil claims

The Congress on Wednesday took a swipe at the government after US President Donald Trump repeated his claim that India is "not going to buy much oil from Russia" and, said this is the fourth time in six days that the American leader has announced India's policy. The opposition party also took a dig at Prime Minister Narendra Modi, saying what he conceals, "Trump reveals". The attack came after Trump spoke with Modi and greeted him on Diwali. Congress general secretary in-charge communications Jairam Ramesh said, "The PM has finally acknowledged publicly that President Trump called him up and that the two spoke to each other. But all that the PM has said is that the US President extended Diwali greetings. But while Mr. Modi conceals, Mr. Trump reveals." "On his part, the US President has said that in addition to extending Diwali greetings, he spoke of India's oil imports from Russia and that he had been assured that these imports will be stopped. This is the 4th time in 6 days that