Oil

The U.S. sanctions on Russia’s oil trade have led to a slump in Indian imports of Russian crude, which have plunged to a two-year low in February, per data from analytics firm Kpler cited by Bloomberg. Since the Russian invasion of Ukraine and the bans on Russian oil in the …

OPEC+ is still weighing its Q2 oil production plans, according to eight OPEC+ sources who spoke to Reuters this week—with Trump-incited complications creating an uncertain future for oil market balance. What’s at stake is OPEC+’s plans to lift oil production beginning in April 2025—something the group normally has to have …

Kazakhstan’s oil exports via its main oil export route, the Caspian Pipeline Consortium (CPC), remain on schedule despite recent damages to the pipeline, the country’s energy minister announced on Wednesday. Russia’s Kropotkinskaya pumping station in southern Krasnodar region was hit by a Ukrainian drone attack on February 17. “So far …

The U.S. Office of Foreign Assets Control has added four Indian companies to its latest list of entities sanctioned for their involvement in the international trade of Iranian crude oil. The companies are Austinship Management Pvt Ltd, BSM Marine LLP, Cosmos Lines Inc, and Flux Maritime LLP. The designation of …

Potential sanctions relief on Russia in case of a ceasefire or peace deal for Ukraine will not boost materially Russia’s oil supply to the market, according to Goldman Sachs. As the U.S. and Russia launched talks on Ukraine and potential U.S.-Russia economic rapprochement, oil market participants and analysts have started …

Saudi Arabia’s crude oil exports fell in December by 60,000 barrels per day (bpd) from the seven-month high in November, the latest data from the Joint Organizations Data Initiative (JODI) showed on Tuesday. In November, Saudi crude oil exports jumped by 281,000 bpd to 6.21 million bpd—a seven-month high, according …

U.S. sanctions against Russia’s oil exports and trade should not hinder Russian energy trade with India, Russia’s first deputy energy minister, Pavel Sorokin, said on Tuesday. Indian refiners are scrambling for alternatives after the U.S. sanctions designated hundreds of tankers, as well as oil traders, last month. Since the Russian …

The US Energy Information Administration (EIA) revealed on Sunday that Iraq exported more than six million barrels of oil to the United States in January 2025. The EIA mentioned that Iraq’s crude oil exports to the United States reached 6.23 million barrels in December, less than the country’s oil exports …

China aims for stable crude oil production above 200 million tons in 2025, the National Energy Administration (NEA) said on Thursday. In 2024, China’s total oil and gas output exceeded 400 million tons of oil equivalent for the first time, playing a “ballast” role in ensuring the stable production, supply …

OPEC’s oil production declined in January for a second consecutive month amid lower output from Iran and Nigeria, according to the monthly Reuters survey published on Wednesday. Last month, all 12 OPEC producers saw their combined output drop by 50,000 barrels per day (bpd) from December to 26.53 million, according …