Oil

Iraq continued to be India’s second-largest crude oil supplier during September. According to Kpler, a prominent source of market analytics for the energy and maritime sectors, Russia remained India’s top oil supplier in September, accounting for 33.3 percent of total oil imports, Shafaq News reported. In September, India imported 1.6 …

Kazakhstan will boost its crude oil exports to Germany next year after Kazakh national oil and gas company KazMunayGas extended a supply deal with Rosneft Deutschland, which has been under German trusteeship since 2022. Kazakhstan is supplying crude to the Schwedt refinery, the fourth-largest refinery in Germany, which used to …

China is building new oil storage sites as it stockpiles crude while it is cheap. This year and next will see a total of 11 new storage sites built across the country, Reuters reported today, noting that the combined capacity of the new sites would come in at some 169 …

Saudi Arabia left the official selling price of its crude oil selling in Asia in November unchanged from the October prices as OPEC+ continues to lift production amid a market concerned about an imminent oversupply. Saudi Aramco, the Kingdom’s oil giant and the world’s single largest crude exporter, set the …

Nigeria is pumping more crude and drilling harder than it has in years, thanks to reforms under President Bola Tinubu that are finally coaxing cash back into the upstream. Daily output has climbed to between 1.7 and 1.83 million barrels, while active rigs surged from 31 in January to 50 …

OPEC’s second largest producer, Iraq, plans to increase its oil production capacity to 5.5 million barrels per day (bpd) by the end of the year, up from about 4.4 million bpd now, Iraqi Oil Minister Hayyan Abdul Ghani told the Rudaw news outlet on Wednesday. “The plan is to reach …

The U.S. Energy Information Administration just delivered a statistical shock: July’s monthly data shows U.S. total liquids output hitting a record 21.218 million barrels per day, nearly 500,000 bpd higher than the agency’s weekly estimates had implied. Crude production came in at 13.642 million bpd, with natural gas liquids at …

The export availability of crude oil from Iraq’s semi-autonomous region of Kurdistan continues to increase after the pipeline from northern Iraq to the Turkish Mediterranean coast resumed flows on Saturday, one of the foreign companies operating in Kurdistan said on Monday. UK-listed Gulf Keystone Petroleum confirmed that crude oil exports …

Saudi Arabia is expected to raise slightly the price of its flagship crude grade loading for Asia in November, to reflect stronger Middle Eastern oil benchmarks, refining sources told Reuters in a survey released on Monday. The world’s top crude exporter will be tempted to increase its prices amid stronger …

While the world is watching the UN General Assembly discussions on Gaza-Israel, hybrid warfare in Europe (drones) and Trump, global oil markets are showing increased instability, as Ukrainian drones are destroying key oil and gas infrastructure inside of Russia. Over the last few weeks, a tsunami of reports has been …