Oil

The surge in Russian crude sales in China and the simultaneous drop in Indian demand for Russia’s oil have prompted Moscow to turn to using a larger fleet of supertankers—vessels capable of carrying 2 million barrels of crude. In recent weeks, several smaller tankers that left Russia’s Western ports transferred …

Supertanker rates to ship crude on the key Middle East-to-China route have surged to a six-year high as Persian Gulf supply to India soars and traders rush shipments to precede a potential U.S. military campaign in Iran, industry data and sources tell Reuters. The daily rate for hiring a very …

India is growing more dependent on imports of crude oil, with the total share of imports in its oil consumption reaching 88.6% over the first ten months of its current fiscal year, which ends on March 31. The data, from the country’s Petroleum Planning & Analysis Cell, a division of …

Russia is exporting crude oil at rates higher than before its 2022 invasion of Ukraine and the barrage of Western sanctions that followed it, many targeting specifically the oil industry. Four years after those events, Russia is exporting oil at 6% higher levels than before that, Finland-based think tank Centre …

Saudi oil exports to India are on course to book the strongest month since 2020, according to data from Kpler cited by Bloomberg. India has been under intense pressure from the United States to stop importing crude from Russia, and while New Delhi has been wary of making any formal …

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 …