Page 4 - Crude Oil Production

Covid-19 impact: Tanker rates boom as demand for oil storage surges

Vessel charges jump up to seven times to $160,000-170,000 per day since February

Covid-19 impact: India crude oil production plummets 5.5% in March

The cumulative crude oil production during 2019-20 was 32.1 million tonne, 5.95 per cent lower than production of 34.2 mt during the corresponding period of last year

Reliance's Jamnagar refinery cuts crude processing by 24% as demand slumps

RIL's 35.2 million tonnes a year SEZ refinery processed 2.51 million tonnes of crude oil into fuel in March, a drop of 24 per cent year-on-year

MCX creates history of sorts, settles April crude oil contract in negative

Chances of huge defaults by investors, many of whom are retail traders gone long; On Nymex, there were actual trades in minus in which sellers were actually paying buyers to lift stocks

Oil firms float finished fuel products on Arabian Sea as demand slumps

They're running out of storage space on land and their refineries are running only at 50% of capacity; US Oil futures touch an unprecedented negative pricing

Mexican standoff throws proposed 10 mn-barrel OPEC+ oil cut in doubt

The cartel, Kuwait and Saudi Arabia say Mexico's refusal to agree blocked the proposed accord

Coronavirus impact: The world is running out of places to store its oil

This chaotic mismatch in supply and demand has benefited consumers, who have watched gasoline prices slide lower

As coronavirus outbreak destroys fuel demand, global refiners consider cuts

Traders, all speaking on condition of anonymity, said it was extremely difficult for refiners to plan their run rates because the situation changes every day

Oil posts biggest weekly losses since 2008, hit by virus and price war

The rare combination of severe shocks to both supply and demand has caused the crude market to collapse

'Crazy' Saudi oil price cuts seen reigniting market share war with Russia

Deal between Russia and OPEC shook on Friday when OPEC, led by Saudi Arabia, failed to reach agreement with the world's No. 2 oil producer Russia to deepen production cuts aimed at shoring up prices.

Bracing against Brent

It is time for India to be imaginative about its energy strategy

Buoyed by signs of improving trade relations, oil starts 2020 on a high

Oil was also boosted by optimism that trade talks between the world's two largest economies will support demand

Oil edges further above $65 a barrel on US, China trade deal, supply cuts

Brent crude rose 29 cents to $65.63 a barrel by 1305 GMT, while US West Texas Intermediate crude added 18 cents to $60.39

OPEC+ faces 'major challenge' from competitors' surging output: IEA

"The OPEC+ countries face a major challenge in 2020 as demand for their crude is expected to fall sharply," the Paris-based agency said in a monthly report

Electric vehicles' rise may lead to slow global oil demand from 2025: IEA

The IEA expects there will be 330 million electric cars on the road by 2040

Crude shock: Rise in oil prices may deepen India's auto crisis, say experts

Spike in oil prices will translate into a matching or higher increase in fuel prices in domestic market

New Saudi oil minister endorses production curbs to address oversupply

the minister signalled no major change in approach in Saudi Arabia

Core sector growth at 50-month low in June; 4 out of 8 sectors contract

June growth rate falls to 0.2%, from 4.3 % in May, as refinery, steel and cement production weakens

US to overtake Russia as biggest crude oil producer by 2019 at latest: IEA

US crude oil output rose above 10 million barrels per day (bpd) late last year for the first time since the 1970s, overtaking top oil exporter Saudi Arabia