Page 2 - Crude Oil Supply

Russia may be India's biggest crude supplier in June, a historic first

Russian oil is on pace to account for 21 per cent of all imports into India, shrinking the shares of Iraqi and US crude

Domestic crude oil producers get marketing freedom, exports not allowed

According to a government statement, this move shall ensure marketing freedom for all exploration and production (E&P) operators

Asia's thirst for cheap Russian oil hits Opec's No 2 producer Iraq

The Iraqi grades are an outlier in Asia, where robust demand led to an earlier-than-usual start of the trading cycle for physical crude buying

India delivers over 400,000 metric tonnes of fuel to Sri Lanka amid crisis

Amid the worst economic crisis in Sri Lanka, India took another initiative to extend support and supplied 12 shipments and over 400,000 Metric Tones (MT) of fuel to the island nation.The High Commission of India in Sri Lanka took to its Twitter handle to make the announcement of the consignment."12 shipments and more than 400,000 MT of fuel!! Latest consignment of #Diesel from #India under the credit line for fuel was delivered in #Colombo by Torm Helvig today," the High Commission of India in Colombo tweeted.Earlier, on Thursday, India extended its support by supplying 65,000 metric tons of urea to the island nation.The Sri Lankan High Commissioner to India, Milinda Moragoda, held a meeting with the Secretary in the Department of Fertilizers of India Rajesh Kumar Chaturvedi where the issue was discussed, reported Daily Mirror."High Commissioner Milinda Moragoda met with the Secretary to the Department of Fertilizers of India Rajesh Kumar Chaturvedi and thanked him for India's ...

Reversing assessment, IEA sees world weathering lost Russian oil supply

LONDON (Reuters) -The world will not be left short of oil even with lower output from sanctions-hit Russia, the International Energy Agency (IEA) said on Thursday, in a U-turn after it predicted a possible "global supply shock" in March.

Oil prices climb 1% after US crude, fuel stocks signal tighter supply

The gains come on the back of news from Tuesday that the European Union is working on new sanctions against Russia for waging war on Ukraine that will target Moscow's oil industry.

Russia's Gazprom says 2021 net profit jumps to almost $28 billion

The company said its 2021 sales increased to 10.2 trillion roubles from 6.3 trillion roubles in 2020

India refiners skip Rosneft crude tenders on 'biased' terms: Reports

Rosneft on Wednesday issued tenders to sell a total of 6.5 million tonnes of Urals, Siberian Light, Sokol and ESPO Blend crude for loading in May-June and had asked for roubles and full prepayments.

Oil prices fall as market weighs mixed supply signals

The International Energy Agency on Wednesday warned that from May onwards roughly 3 million barrels per day of Russian oil could be shut-in due to sanctions or voluntary embargoes

Global equities waver on inflation view as falling oil supplies lift prices

Equity markets have suffered from hawkish moves from the world's top central banks in response to inflation, analysts said

Oil surges by 4% amid IEA's warnings of supply shortages

The supply loss would be far greater than an expected drop in demand of one million bpd triggered by higher fuel prices, the IEA said in a report on Wednesday

Oil rises but set for weekly loss as traders assess supply disruptions

US President Joe Biden said the G7 industrialized nations will revoke Russia's 'most favored nation' trade status, and announced a US ban on Russian seafood, alcohol and diamonds

Ukraine war: Oil markets fret over supply shock as some buyers shun Russia

Russia is the world's top exporter of crude and oil products combined, at around 7 million barrels per day (bpd) or 7% of global supply

Saudi Arabia raises April crude selling prices to Asia to all-time highs

Saudi Arabia's Aramco raised April OSPs for crude it sells to Asia by over USD $2 a barrel, with some grades hitting all-time highs, as global market struggle with Russian oil disruption

Indian Oil no longer accepts Russian crude oil on free-on-board basis

The letter was sent on Monday to traders who submit cargo offers into IOC's regular crude oil buy tenders

Oil at $103: No fears of supply disruption to India, prices a concern

Brent crude rose to as much as USD 103.78 a barrel, the highest since August 14, 2014, and was at USD 103.40 at 1500 hrs, up USD 6.71, or 6.93 per cent

Oil price steadies on waning supply worries over Russia-Ukraine crisis

Brent crude rose 11 cents, or 0.01%, to $96.95 a barrel at 0730 GMT, after soaring as high as $99.50 on Tuesday, the highest since September 2014

India's January crude oil imports slip from one-year highs

India's crude oil imports in January fell from one-year highs hit in the previous month, though fuel demand is expected to recover as several states ease Covid restrictions after a decline in cases.

Crude oil prices to remain in nervous 90s for now

Crude oil prices surged 10% in the past month. Business Standard's Puneet Wadhwa speaks to Paul Hickin, a director at S&P Global Platts, on how crude oil prices will play out in the days to come

Oil prices regain losses as Russia-Ukraine tensions ease

Oil prices recovered losses on Wednesday after slipping over 3% in the previous session, as investors gauge easing of Russia-Ukraine tension against tight global supplies and recovering fuel demand.