Oil

Hungary and Slovakia have formally requested that Croatia authorize the transit of Russian crude oil via the Adriatic pipeline, following the complete suspension of oil flows through the Ukrainian section of the Druzhba pipeline, which has been out of service since January 27. The two countries seek to use the …

China’s oil imports from Russia are on track for all-time high of over 2 million barrels per day in February as India is withdrawing from Russian spot purchases and supply is now heavily discounted for Chinese independent refiners. China is set to import 2.07-2.08 million barrels per day (bpd) of …

Venezuela’s oil sales, under the control of the United States for five weeks now, are set to bring $5 billion over the next few months, U.S. Energy Secretary Chris Wright told NBC News in an interview. “Sales today are over a billion dollars, and in fact, we have sort of …

Russia plans to send soon oil and oil products to Cuba as part of humanitarian aid, the Russian embassy in Cuba told Russian media on Thursday. Cuba’s worsening economic and humanitarian situation has gone from bad to worse in recent weeks as the U.S., which now controls Venezuela’s oil sales, …

India’s largest state-owned refiner, Indian Oil Corporation (IOC), has boosted purchases of crude oil from ?West Africa and the Middle East, as New Delhi steers clear of Russian crude in the wake of the trade deal with the United States. Indian Oil has acquired six million barrels of Middle East …

India’s largest private refiner, Reliance Industries, is buying Venezuelan crude again, securing the first Indian purchase of oil from the world’s top reserves holder since the U.S. took control of Venezuela’s oil sales early last month. Reliance Industries has purchased a cargo of around 2 million barrels, an anonymous source …

Equinor slashed the amount of share repurchases for 2026 to $1.5 billion from $5 billion last year while it narrowly missed earnings estimates for the fourth quarter of 2025, as higher upstream production couldn’t offset the lower oil and gas prices. The Norwegian major on Wednesday reported adjusted operating income …

Kuwait exported record volumes of very low sulfur fuel oil (VLSFO) in January after a key refinery restarted full operations following a fire-induced partial outage at the end of last year. One of the Gulf’s top crude oil exporters, which also vies to be a major fuel oil exporter, was …

The European Union is quietly preparing to take a much bigger swing at Russia’s oil trade. And this time, Brussels is aiming less at price optics and more at enforcement reality. The EU is reportedly weighing whether to scrap its Russian oil price cap altogether and replace it with a …

Sanctions from the European Union and the United States pressured Russian crude oil export revenues to a 20% decline on the year in 2025, the Financial Times reported, citing Agus pricing data. The data suggests that the discount between Russian crude and international benchmarks widened to $24 per barrel last …