International

OPEC+ delayed the revival of its oil production by three months, the third time it’s deferred the move while crude prices struggle amid a looming surplus. The group led by Saudi Arabia and Russia pushed back the series of supply increases, which had been due to begin with a hike …

Chinese scientists have uncovered a “supergiant” deposit of high-quality gold ore hidden near some of the country’s existing gold mines. The vast reserve, which could be the largest single reservoir of the valuable metal left anywhere on Earth, could end up being the largest known deposit of the precious metal …

Russia remained the largest crude supplier to India in November, accounting for 38% of India’s total crude oil imports. However, imports from the country registered a marginal decline of 4% to 1.60 million barrels per day, against 1.67 million barrels per day in October, data from Vortexa showed. The country …

The US Energy Information Administration (EIA) announced on Sunday that Iraq was the second-largest oil exporter to the United States during the past week, surpassing Saudi Arabia and Mexico. The EIA mentioned that the average US imports of crude oil during the past week from eight major countries reached approximately …

Private Chinese refiners, who buy most of Iran’s crude, have recently scoured West Africa and the Middle East for supply unsold in previous trade cycles, as flows of Iranian crude have dropped amid higher prices and preparation for the incoming Trump Administration. China’s independent refiners, the so-called teapots, are key …

OPEC will likely remain committed to production curbs for yet another month, the energy minister of Azerbaijan told Reuters ahead of the group’s Sunday meeting. “OPEC+ could or couldn’t discuss oil output rollover at its next meeting. It is difficult to prejudge,” Parviz Shahbazov told the publication. OPEC has been …

The transition team of incoming U.S. President Donald Trump is drafting an energy package to expand domestic oil and gas drilling on federal lands and offshore lease sales, in addition to expediting LNG export permits, Reuters reported on Monday, citing sources with knowledge of the plans. President-elect Trump has vowed …

Kazakhstan continues to discuss the possibility of oil shipments via the Baku-Supsa pipeline, Almassadam Satkaliyev, Minister of Energy and Mineral Resources of Kazakhstan, said in a report during the government hour in the parliament, Trend reports. “Discussions are underway regarding the Baku-Supsa pipeline. The pipeline has a capacity of 5 …

Czechia will not seek an extension of its exemption from the EU ban on imports of Russian oil products, the Czech Ministry of Industry and Trade has confirmed, following an earlier report by Reuters. The exemption, granted as part of EU sanctions against Russia for its aggression in Ukraine, expires …

The volume of oil transportation through the system of main oil pipelines amounted to 57.8 million tons of oil from January through October 2024. Data obtained by Trend from the Ministry of Energy of the Republic of Kazakhstan reveals that, as of the end of October, more than 26 percent …