Oil Exports

The refinery executives said Indian processors will maintain their long-term supplies from producers such as Saudi Arabia, with any increase in Russian purchases done on a spot and opportunistic basis

Argentina stays top exporter to India since war broke out

Trade weakness would affect growth

India, the world's third-largest oil importer, has been ramping up Russian crude imports and increasing oil product exports to the West for higher margins.

The average price for Iraqi crude oil in October was 88.31 dollars per barrel, the Ministry said in a statement on Tuesday, citing statistics from the State Organisation for Marketing of Oil.

An invoice seen by Reuters shows the bill for supplying oil to one refiner is calculated in dollars while payment is requested in dirhams.

The company benefited from a rebound in oil prices, up about 23% during the first quarter, as fuel demand recovered after being decimated last year by lockdowns

The move aims to mobilise the Gulf Arab state's private sector to help wean the economy off its reliance on oil exports, which still account for more than half the state's income

Trade deficit at 25-month high as imports surge 8% after continuous declines; Data shows industrial activity picking up in December

The company said it will uphold its commitment to pay out dividends of $18.75 billion for the second quarter

Washington has exempted some Venezuelan oil trade from sanctions, when transactions are in exchange for fuel and food or to repay debts rather than for cash

Farmers need stable policy environment for investment

The US Treasury Department imposed new restrictions on a shipping network controlled by Iran's Islamic Revolutionary Guard Corps on Wednesday

With China grabbing more Saudi crude, flows to India, Japan and South Korea also appear to have declined last month

Trump administration has recognised opposition leader Juan Guaido as oil-rich country's interim leader against President Nicolas Maduro

US oil shipments to India fell to 84,000 barrels per day (bpd) last month, down 75 per cent from a record high of 347,000 bpd in June

Iran is the third-biggest oil supplier to India and has offered refiners incentives including almost-free shipping and an enhanced credit period on oil sales

"The large number of disruptions reminds us of the pressure on global oil supply," the IEA said

India's non-oil, non-gems & jewellery exports rise 11%, but a 24% rise in gold imports and slow increase in petro product exports are worrying

Last year's pact between members of Opec, the petro exporters' cartel, and non-members to cut crude oil production has faced several challenges. ABHISHEK DESHPANDE, chief energy analyst at London-based Natixis Global Commodities Markets Research, told Rajesh Bhayani oil prices might take longer to rise. Edited excerpts:Is it Opec members' breach of output quotas or shale oil supply increase that is pushing oil prices down?Both. Shale production got revived due to US producers reducing costs and hedging 2017 production at elevated prices after the Opec and non-Opec deal. And, there is rising production from Opec members whose output was never capped, particularly Libya and Nigeria. With that excess oil, other Opec members' compliance has also started to go down. Compliance fatigue is setting in -- this is the worst of the worst scenario for Opec, with low oil prices and also lower export. Speculative investors are also treading carefully before getting into large positions in oil. ...