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Why Oil Still Shapes US Geopolitics In An Era of Record Production
The United States has made oil the centrepiece of its global strategy. According to the Energy Institute Statistical Review of World Energy, the US produced approximately 20 million barrels per day in 2024.
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"No Foreign Agent Governing Venezuela": Interim President Delcy Rodriguez
Venezuela's interim leader Delcy Rodriguez insisted Tuesday no foreign power was governing her country, even as US President Donald Trump announced Caracas will be swiftly turning over millions of barrels of oil to the United States.
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US To Get 50 Million Barrels Of Oil From Venezuela At Market Price: Trump
President Donald Trump said Tuesday on his social media site that "Interim Authorities" in Venezuela would be selling 30 million to 50 million barrels of "High Quality" oil to the US at its market price.
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Falling Crude Oil Prices To Keep India Inflation Below 3.4% In FY27: Report
Crude oil prices are projected to soften significantly to touch around $50 per barrel (bbl) by June 2026, positively affecting the CPI inflation, keeping it decisively below 3.4 per cent in the next fiscal (FY27), an SBI Research report said.
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Amid Rising US Heat, Russia Offers India Bigger Oil Discounts: Report
The price of Russian oil has dropped to a discount of $3 to $4 per barrel for India, as New Delhi still bears the brunt of US tariffs.
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China In "Opportunistic" Move, Pounces On Cheap Russian Oil, As Indian Demand Dips
Chinese refineries have ramped up their crude oil purchases from Russia as demand from India has weakened. Trump has threatened to impose secondary tariffs on goods from countries importing Russian oil in to pressure Moscow to end the war in Ukraine.
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China Keeps Buying Oil From Russia And Iran Despite US Pressure
US and Chinese officials may be able to settle many of their differences to reach a trade deal and avert punishing tariffs, but they remain far apart on one issue: the US demand that China stop purchasing oil from Iran and Russia.
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How Moscow Might Respond If Trump Stops Russian Oil To India
US President Donald Trump's demand on India to halt Russian oil imports could threaten billions in Russian revenues, prompt Moscow to retaliate by stopping a major US-led oil pipeline and potentially lead to a new global supply crisis.
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1 Dead After Fire Erupts In Iran's Largest Oil Refinery
A fire at Iran's oldest and largest refinery in the southwest killed one person, state media reported Sunday.
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Drone Strikes Norwegian Oilfield In Iraq, 2nd Such Attack This Week
A drone attack targeted an oilfield operated by Norwegian oil and gas firm DNO in Tawke, in the Zakho Administration area of northern Iraq
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OPEC+ To Hike Petrol Output To 548,000 Barrels Per Day In August
Saudi Arabia, Russia and six other key members of the OPEC+ alliance said they would further increase oil output in August to 548,000 barrels per day.
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Explained: Why Closing Strait Of Hormuz Could Backfire On Iran
The war between Israel and Iran has raised concerns that Iran could retaliate by trying to close the Strait of Hormuz, the world's most important oil chokepoint in terms of the large volumes of crude that pass through it every day.
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In A Surprise Announcement, Trump Asks China To 'Keep Buying Oil From Iran'
In a sudden twist in Washington's Iran policy, US President Donald Trump made an unexpected announcement shortly after declaring a ceasefire between Iran and Israel after nearly two weeks of air strikes and missile attacks.
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What War In Middle East Means For Global Oil Markets And What It Doesn't
The conventional wisdom used to be that war in the Middle East would send oil prices soaring. Not anymore.
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Oil Prices Drop As Israel Agrees To Ceasefire Proposal
Oil prices sank more than five percent Tuesday after Israel said it had agreed to US President Donald Trump's proposal for a bilateral ceasefire with Iran. Brent was down 5.2 percent at $67.75 per barrel.
-
Why Oil Still Shapes US Geopolitics In An Era of Record Production
The United States has made oil the centrepiece of its global strategy. According to the Energy Institute Statistical Review of World Energy, the US produced approximately 20 million barrels per day in 2024.
-
"No Foreign Agent Governing Venezuela": Interim President Delcy Rodriguez
Venezuela's interim leader Delcy Rodriguez insisted Tuesday no foreign power was governing her country, even as US President Donald Trump announced Caracas will be swiftly turning over millions of barrels of oil to the United States.
-
US To Get 50 Million Barrels Of Oil From Venezuela At Market Price: Trump
President Donald Trump said Tuesday on his social media site that "Interim Authorities" in Venezuela would be selling 30 million to 50 million barrels of "High Quality" oil to the US at its market price.
-
Falling Crude Oil Prices To Keep India Inflation Below 3.4% In FY27: Report
Crude oil prices are projected to soften significantly to touch around $50 per barrel (bbl) by June 2026, positively affecting the CPI inflation, keeping it decisively below 3.4 per cent in the next fiscal (FY27), an SBI Research report said.
-
Amid Rising US Heat, Russia Offers India Bigger Oil Discounts: Report
The price of Russian oil has dropped to a discount of $3 to $4 per barrel for India, as New Delhi still bears the brunt of US tariffs.
-
China In "Opportunistic" Move, Pounces On Cheap Russian Oil, As Indian Demand Dips
Chinese refineries have ramped up their crude oil purchases from Russia as demand from India has weakened. Trump has threatened to impose secondary tariffs on goods from countries importing Russian oil in to pressure Moscow to end the war in Ukraine.
-
China Keeps Buying Oil From Russia And Iran Despite US Pressure
US and Chinese officials may be able to settle many of their differences to reach a trade deal and avert punishing tariffs, but they remain far apart on one issue: the US demand that China stop purchasing oil from Iran and Russia.
-
How Moscow Might Respond If Trump Stops Russian Oil To India
US President Donald Trump's demand on India to halt Russian oil imports could threaten billions in Russian revenues, prompt Moscow to retaliate by stopping a major US-led oil pipeline and potentially lead to a new global supply crisis.
-
1 Dead After Fire Erupts In Iran's Largest Oil Refinery
A fire at Iran's oldest and largest refinery in the southwest killed one person, state media reported Sunday.
-
Drone Strikes Norwegian Oilfield In Iraq, 2nd Such Attack This Week
A drone attack targeted an oilfield operated by Norwegian oil and gas firm DNO in Tawke, in the Zakho Administration area of northern Iraq
-
OPEC+ To Hike Petrol Output To 548,000 Barrels Per Day In August
Saudi Arabia, Russia and six other key members of the OPEC+ alliance said they would further increase oil output in August to 548,000 barrels per day.
-
Explained: Why Closing Strait Of Hormuz Could Backfire On Iran
The war between Israel and Iran has raised concerns that Iran could retaliate by trying to close the Strait of Hormuz, the world's most important oil chokepoint in terms of the large volumes of crude that pass through it every day.
-
In A Surprise Announcement, Trump Asks China To 'Keep Buying Oil From Iran'
In a sudden twist in Washington's Iran policy, US President Donald Trump made an unexpected announcement shortly after declaring a ceasefire between Iran and Israel after nearly two weeks of air strikes and missile attacks.
-
What War In Middle East Means For Global Oil Markets And What It Doesn't
The conventional wisdom used to be that war in the Middle East would send oil prices soaring. Not anymore.
-
Oil Prices Drop As Israel Agrees To Ceasefire Proposal
Oil prices sank more than five percent Tuesday after Israel said it had agreed to US President Donald Trump's proposal for a bilateral ceasefire with Iran. Brent was down 5.2 percent at $67.75 per barrel.
