Oil Demand
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The Strait Of Hormuz Has Been Targeted Before. A Look At Past Disruptions
The US and Israel's war with Iran has thrust the Strait of Hormuz at the heart of geopolitical conflict. Iran has brought to a halt nearly all traffic in the waterway, shutting down a critical path for the world's flow of oil.
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US To Release 172 Million Barrels From The Oil Reserve
The United States will release 172 million barrels of oil from its Strategic Petroleum Reserve over the next four months, part of a coordinated international effort by major economies to stabilise energy markets.
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India's Russian Oil Purchases Surge 50% Amid Scramble To Replace Lost Barrels
India's purchase of Russian crude oil has surged 50 per cent in March as New Delhi tapped alternate sources to make up for the shortfall arising from disruption in the Middle East amid a widening military conflict.
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India To Be New Epicentre Of Oil Demand Growth Over Next Decade: Energy Body
India, the world's third-largest oil-importing and -consuming nation, will be the new epicentre of oil demand growth over the next decade, the International Energy Agency (IEA) said on Wednesday.
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Demand For Oil, Gas And Coal Will Peak This Decade, Warns Energy Agency
World demand for oil, gas and coal is forecast for the first time to peak this decade, the head of the International Energy Agency wrote in the Financial Times on Tuesday.
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India To Soon Overtake China As Oil Demand Driver, Says Energy Body Chief
India will soon overtake China as the largest driver of global oil demand even as it has an opportunity to become a world leader in green hydrogen production, International Energy Agency (IEA) chief Fatih Birol said Wednesday.
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India Gets Advice From US On Buying Oil From Russia
India stands to gain from a price cap on Russian oil and the United States hopes that it will take advantage of it, US Treasury Secretary Janet Yellen said ahead of a visit to India this week.
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India Will Be Able To Produce Quarter Of Its Oil Demand By 2030: Minister
Union Minister of Petroleum and Natural Gas Hardeep Singh Puri on Friday announced that the Indian petroleum industry is at the cusp of opportunity and will be able to produce 25 per cent of its crude oil demand by 2030.
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G7 Calls On OPEC To Play Key Role To Ease Global Energy Supplies
Ministers from the G7 group stressed that they would not let the energy crisis derail efforts to fight climate change.
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Iran To Take 'Punitive Action' Against Greece Over Seizure Of Iranian Oil: Report
Iran summoned the envoy of Switzerland, which represents U.S. interests in Tehran, to protest against the U.S. seizure of Iranian oil from a Russian-operated ship near Greece, the foreign ministry said in a statement quoted by Iranian media.
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India's Imports Of Cheap Russian Crude Surge Since Ukraine Invasion
The volumes of India's seaborne oil imports from Russia exclude CPC Blend oil, which is also exported via Russia's Black Sea port, but mostly supplied by Kazakhstan's subsidiaries of western countries as transit volumes.
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Oil Settles Mixed Amid Beijing Lockdown Fears, Tight Supplies
A pending European Union ban on oil from Russia, a key supplier of crude and fuels to the bloc, is anticipated to further tighten global supplies.
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Hungary Says Its Backing Of EU's Russia Oil Ban Hinges On Hundreds Of Millions Of Dollars
Hungary upped the stakes in talks about European Union oil sanctions on Wednesday, saying a deal was out of reach until Brussels offers a "solution" measured in hundreds of millions of dollars to replace Russian oil in the Hungarian economy.
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Oil Edging Higher Supported By The Prospect Of A Tight Market
U.S. petrol stocks fell by 482,000 barrels last week to 219.7 million barrels, U.S. Energy Information Administration said on Wednesday. The start of summer driving season in the United States normally entails increased consumption.
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India's April Crude Oil Imports At 3-1/2 Year High On Cheap Russia Supply
Crude oil imports increased by about 9.7% from March and were up about 14.3% from a year earlier at 20.87 million tonnes, the highest since October 2018, according to Petroleum Planning and Analysis Cell data on Friday.
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The Strait Of Hormuz Has Been Targeted Before. A Look At Past Disruptions
The US and Israel's war with Iran has thrust the Strait of Hormuz at the heart of geopolitical conflict. Iran has brought to a halt nearly all traffic in the waterway, shutting down a critical path for the world's flow of oil.
-
US To Release 172 Million Barrels From The Oil Reserve
The United States will release 172 million barrels of oil from its Strategic Petroleum Reserve over the next four months, part of a coordinated international effort by major economies to stabilise energy markets.
-
India's Russian Oil Purchases Surge 50% Amid Scramble To Replace Lost Barrels
India's purchase of Russian crude oil has surged 50 per cent in March as New Delhi tapped alternate sources to make up for the shortfall arising from disruption in the Middle East amid a widening military conflict.
-
India To Be New Epicentre Of Oil Demand Growth Over Next Decade: Energy Body
India, the world's third-largest oil-importing and -consuming nation, will be the new epicentre of oil demand growth over the next decade, the International Energy Agency (IEA) said on Wednesday.
-
Demand For Oil, Gas And Coal Will Peak This Decade, Warns Energy Agency
World demand for oil, gas and coal is forecast for the first time to peak this decade, the head of the International Energy Agency wrote in the Financial Times on Tuesday.
-
India To Soon Overtake China As Oil Demand Driver, Says Energy Body Chief
India will soon overtake China as the largest driver of global oil demand even as it has an opportunity to become a world leader in green hydrogen production, International Energy Agency (IEA) chief Fatih Birol said Wednesday.
-
India Gets Advice From US On Buying Oil From Russia
India stands to gain from a price cap on Russian oil and the United States hopes that it will take advantage of it, US Treasury Secretary Janet Yellen said ahead of a visit to India this week.
-
India Will Be Able To Produce Quarter Of Its Oil Demand By 2030: Minister
Union Minister of Petroleum and Natural Gas Hardeep Singh Puri on Friday announced that the Indian petroleum industry is at the cusp of opportunity and will be able to produce 25 per cent of its crude oil demand by 2030.
-
G7 Calls On OPEC To Play Key Role To Ease Global Energy Supplies
Ministers from the G7 group stressed that they would not let the energy crisis derail efforts to fight climate change.
-
Iran To Take 'Punitive Action' Against Greece Over Seizure Of Iranian Oil: Report
Iran summoned the envoy of Switzerland, which represents U.S. interests in Tehran, to protest against the U.S. seizure of Iranian oil from a Russian-operated ship near Greece, the foreign ministry said in a statement quoted by Iranian media.
-
India's Imports Of Cheap Russian Crude Surge Since Ukraine Invasion
The volumes of India's seaborne oil imports from Russia exclude CPC Blend oil, which is also exported via Russia's Black Sea port, but mostly supplied by Kazakhstan's subsidiaries of western countries as transit volumes.
-
Oil Settles Mixed Amid Beijing Lockdown Fears, Tight Supplies
A pending European Union ban on oil from Russia, a key supplier of crude and fuels to the bloc, is anticipated to further tighten global supplies.
-
Hungary Says Its Backing Of EU's Russia Oil Ban Hinges On Hundreds Of Millions Of Dollars
Hungary upped the stakes in talks about European Union oil sanctions on Wednesday, saying a deal was out of reach until Brussels offers a "solution" measured in hundreds of millions of dollars to replace Russian oil in the Hungarian economy.
-
Oil Edging Higher Supported By The Prospect Of A Tight Market
U.S. petrol stocks fell by 482,000 barrels last week to 219.7 million barrels, U.S. Energy Information Administration said on Wednesday. The start of summer driving season in the United States normally entails increased consumption.
-
India's April Crude Oil Imports At 3-1/2 Year High On Cheap Russia Supply
Crude oil imports increased by about 9.7% from March and were up about 14.3% from a year earlier at 20.87 million tonnes, the highest since October 2018, according to Petroleum Planning and Analysis Cell data on Friday.
