Page 8 - Oil Trade

Opec+ struggles to meet its supply targets amid high crude prices

A recovery from Covid-19 and a shortage of refining capacity to make fuels continue to keep prices at record highs

India's consideration for crude oil purchases very well understood: Kwatra

The foreign secretary said India's consideration for crude oil purchases has been very well understood by the global community

Asia's thirst for cheap Russian oil hits Opec's No 2 producer Iraq

The Iraqi grades are an outlier in Asia, where robust demand led to an earlier-than-usual start of the trading cycle for physical crude buying

Shipping costs soar as Russian fallout overpowers global fuel flows

The Russian invasion has exacerbated a tightening of energy markets, upending trade flows and forcing buyers to scour the world for alternative fuel supplies

Oil turbulence may last five years, says ExxonMobil CEO Darren Woods

He also pointed out that ExxonMobil is one of the few companies in the US actively investing in refining and had started an aggressive investment programme since 2017

RIL, Nayara account for a combined 69% of Russian oil shipments to India

The push by Reliance and Nayara to scoop up Russian Urals from the market propelled Russia to become India's second biggest oil supplier last month

China buys $7.5 billion of Russian energy with crude oil at record

The increase in shipments came as the war in Ukraine entered a fourth month and other buyers continued to shy away from Russian oil, gas and coal

Oil prices fall after US rate hike, but tight supply still in focus

Oil prices have taken a dive after US decided on an interest rate hike. The hike increased by the Fed Reserve by 2% overnight is the highest in more than a two and a half decades

Oil prices are 'nowhere near' peak, says UAE minister; brent rises

The comments serve as an acknowledgment that last week's decision by the OPEC+ coalition to bolster output will give consumers little respite from the soaring cost of energy this summer

Oil shock devastates poorer nations as shortages, protests mount

Higher fuel bills are exacerbating inflation in countries that are already struggling with soaring food prices

Saudi Arabia raise oil prices more than expected amid Asia rebound

The increase for July shipments resumes a streak of hikes that started in February and was only broken when state producer Saudi Aramco cut prices from record levels for this month

Oil prices gain slightly after Opec+ agrees to increase production

U.S. crude was heading for a sixth weekly gain on tight U.S.supply, which has prompted talk of fuel export curbs or a windfall tax on oil and gas producers

OPEC+ brings forward oil output rises as Joe Biden's Saudi visit looms

US President Biden's looming visit to Saudi Arabia seen as trigger for decision

Russia likely to get suspended by Opec from oil-production deal

Moscow shuts gas supply to Denmark

Decoded: What is windfall tax on oil companies and where does India stand?

If a windfall tax is imposed in India, it will not only be aimed at private companies like Reliance, but also at state-owned behemoths

Oil price edges higher on tight supply and expected demand uplift

LONDON (Reuters) -Oil prices rose on Wednesday, buoyed by tight supplies and the prospect of rising demand from the summer driving season in the United States, the world's biggest crude consumer.

Oil swings wildly, rebounds to gains from steep losses in early hours

NEW YORK (Reuters) - Oil prices rebounded from earlier losses in another volatile session on Thursday as Chinese officials planned to ease restrictions in Shanghai, which could further tighten global energy supply, and as the dollar retreated from recent gains.

Oil rates fall 2% as US refiners ramp up output, equities retreat

HOUSTON (Reuters) -Oil prices reversed course and fell over 2% on Wednesday after government data showed U.S. refiners ramped up output, easing worries of a supply crunch, and as traders took cues from a drop in equities market.

Reversing assessment, IEA sees world weathering lost Russian oil supply

LONDON (Reuters) -The world will not be left short of oil even with lower output from sanctions-hit Russia, the International Energy Agency (IEA) said on Thursday, in a U-turn after it predicted a possible "global supply shock" in March.

Saudis cut oil prices from record highs amid Covid-19 lockdowns in China

Saudi Aramco is lowering prices for the first time in four months