Oil

Kazakhstan’s oil output has fallen sharply after damage at the Caspian Pipeline Consortium (CPC) export terminal disrupted flows, tightening supplies from one of OPEC+’s largest non-core contributors and forcing operators to curtail production, Reuters reported on Thursday. Output dropped in the first two days of December after storms and structural …

Crude oil exports from the Russian terminals on the Black Sea were much lower in November than originally planned as bad weather and Ukrainian attacks on infrastructure have delayed loadings and departures, Reuters reported on Thursday, quoting sources in the industry. Both the port of Novorossiysk and the CPC terminal …

Oil prices remained elevated in early Asian trade on Tuesday as investors priced in growing geopolitical risk, especially after a drone strike damaged infrastructure at the Caspian Pipeline Consortium (CPC) Black Sea terminal. At the time of writing, Brent crude was trading at $63.16 a barrel and U.S. West Texas …

India could reduce its imports of Russian crude oil by 50%, a former foreign minister in New Delhi told local media, noting that both India and Russia would nevertheless look for ways to go around U.S. sanctions to keep some oil flowing. “We will be gradually reducing oil purchases from …

Oil prices rebounded in early Asian trade on Monday following the latest OPEC+ meeting, as traders responded to the producer group’s decision to hold output steady through the first quarter of 2026. At the time of writing, West Texas Intermediate crude stood at $59.32, up 1.32%, while Brent crude had …

Iraqi oil exports to the United States increased last week, according to the US Energy Information Administration (EIA.) The EIA reported on Sunday that the average US crude oil imports from 8 key countries reached 5.692 million (bpd) this week, up from 5.337 million bpd from the previous week’s average. …

Kazakhstan’s Energy Ministry condemned an attack on the Caspian Pipeline Consortium (CPC) on Saturday, following Russian assertions that Ukraine was responsible. In a statement, the ministry declared that attacks on international energy infrastructure cause “substantial harm to the economic interests of consortium participants.” It further stressed that such “actions against …

Saudi Arabia is expected to slash the prices for its crude bound for Asia in January to the lowest premium to benchmarks in five years, as the world’s largest crude exporter looks to preserve market share amid ample supply and falling spot Middle East benchmarks. Saudi oil giant Aramco will …

OPEC+ members are expected to stick with their decision to pause oil production increases when the group meets online this Sunday, signaling a cautious approach amid growing signs of oversupply and persistent weakness in prices. Delegates told reporters the meeting is likely to be “straightforward,” with ministers simply reaffirming the …

Oil prices saw a modest decline on Tuesday amid persistent concerns about oversupply and heightened market caution as investors closely monitored ongoing peace talks between Russia and Ukraine. Brent crude oil traded at $62.42 per barrel, showing a 0.49 percent dip from recent levels, pressured primarily by a growing glut …