Diesel demand surged by 8.9% to 2.05 million barrels per day (mb/d), while gasoline use climbed 10% to 0.98 mb/d. LPG consumption increased by 7.3% to 1.04 mb/d. Crude oil imports stood steady at 4.7 ...

The sanctions, the biggest against Russia’s oil shipping sector since the invasion of Ukraine in February 2022, will impact India, given that Russia is its biggest source market for crude oil.

While describing the creation of the forum as timely, Engr Komolafe harped on the need to significantly increase oil production in the country. “The 2025 budget is predicated on crude oil ...

In 2022, 72 per cent of its total crude oil supply was imported, according to the International Energy Agency (IEA). “I have no doubt that elevating our relationship to undreamed-of heights ...

India’s crude oil imports from Middle Eastern suppliers including Iraq and Saudi Arabia are likely to rise in the coming months as the US further tightens sanctions on Russia. On January 10 ...

The lower gas prices largely reflect the agency's forecasts for lower crude oil prices amid a widening gap between oil supply and demand. The EIA forecasts Brent crude will fall 8% to an average ...

(Reuters) -Oil prices rose more than 2% on Wednesday, supported by a large draw in U.S. crude stockpiles and potential supply disruptions caused by new U.S. sanctions on Russia, while a Gaza ...

Oil prices rose more than 2 per cent on Wednesday, supported by a large draw in U.S. crude stockpiles and potential supply disruptions caused by new U.S. sanctions on Russia, while a Gaza ...

Discussions on a term deal for crude oil purchases from Russia have ground to a halt in the wake of the latest sanctions on Russia, sources in the Ministry of Petroleum said. A joint front of ...

Crude oil prices moved higher today, after the U.S. Energy Information Administration reported an inventory dip of 2 million barrels for the second week of the year. The change estimated by the ...

HOUSTON, Jan 15 (Reuters) - U.S. crude oil stocks excluding the Strategic Petroleum Reserve (SPR) fell last week to their lowest since April 2022 as exports rose and imports fell, the Energy ...

The amount of oil stranded off the Chinese coast is growing ... Five tankers carrying almost 4 million barrels of ESPO and Sokol crude from the Russian Far East that should have delivered their ...