Oil Production

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

Crude oil outlook: Supply glut, macro headwinds to cap rally; target & more

Crude oil prices continue to trade within a broader range of $5-$7, reflecting the persistent tug-of-war between supply excess and geopolitical flare-ups

Opec to boost output for market share; Brent may fall below $65 a bbl

OPEC+ will increase output by 137,000 bpd from October to regain market share, a move analysts say could push Brent crude below $65 and even $55 a barrel by year-end

Crude oil: Bearish long-term outlook, WTI to hit $60 by Q4CY25, say analyst

Since the conclusion of the Iran-Israel conflict, oil prices have retreated and stabilised within a broader trading range of around $6 per barrel

Saudi Arabia rapidly losing appetite for oil amid renewables push

Saudi Arabia, the world's biggest net exporter of crude, is using renewables to drastically reduce its petroleum consumption

Crude Oil: Here's your trading strategy for August 12; key levels inside

Geopolitical developments are a primary driver of market uncertainty. The Trump-Putin talks could either ease concerns over US sanctions on Russian oil or escalate tensions if negotiations falter.

Opec+ countries to boost oil production by 547,000 barrels per day

A group of countries that are part of the OPEC+ alliance of oil-exporting countries has agreed to boost oil production, a move some believe could lower oil and gasoline prices, citing a steady global economic outlook and low oil inventories. The group met virtually on Sunday and announced that eight of its member countries would increase oil production by 547,000 barrels per day in September. The countries boosting output, including Saudi Arabia, Russia, Iraq, United Arab Emirates, Kuwait, Kazakhstan, Algeria and Oman, had been participating in voluntary production cuts, initially made in November 2023, which were scheduled to be phased out by September 2026. The announcement means the voluntary production cuts will end ahead of schedule. The move follows an OPEC+ decision in July to boost production by 548,000 barrels per day in August. OPEC said the production adjustments may be paused or reversed as market conditions evolve. When production increases, oil and gasoline prices ma

OPEC+ may boost oil production faster than expected, weighs August hike

Since April, OPEC and its partners have pivoted from years of output restraint to reopening the taps, surprising crude traders and raising questions about the group's long-term strategy