Oil Supply Middle East

Supply cuts by OPEC , costly shipments from some traditional Middle East suppliers and geopolitical tension is driving India, the world's third biggest oil importer, to diversify its crude sources and accelerate its energy transition

Amid the ongoing Israel-Hamas conflict, Union Minister for Petroleum and Natural Gas Hardeep Singh Puri on Friday said that there is no expectation of any disruption in supply lines for crude oil so far.

Supply concerns and political tensions in Eastern Europe and the Middle East put prices on track for their biggest monthly gain in almost a year.

The rupee moved lower against the US dollar on Monday as crude oil prices continued to rise amid supply concerns. The rupee started lower at 72.03 against the US currency in intraday trade on Thursday, and dropped to as low as 72.11 during the day before paring some of those losses by the end of the session. Rising crude oil prices as escalating te...

Rising U.S. inventories and relative calm in the Middle East over the last week or so are countering the likelihood that the Organization of Petroleum Exporting Countries and allied producers will extend their output curbs.

Saudi Arabia raised oil production to an all-time high in November, an industry source said on Monday, as US President Donald Trump piled pressure on the kingdom to refrain from production cuts at an OPEC meeting next week.

During the first nine months of the year India's oil imports rose 1.8 percent to about 4.4 million bpd, with most supplies coming from the Middle East, followed by Africa and Latin America.

Tata Motors and Castrol on Thursday inked a three-year agreement under which the lubricants maker would supply commercial vehicle oils to the homegrown auto major in over 50 markets including SAARC and ASEAN region, Middle East, Africa, Russia and Latin America.

Many Middle East oil producers, including top exporter Saudi Arabia but also Iraq, Iran and the United Arab Emirates have ramped up their supplies to Asia in an aggressive fight for market share.

Oil prices stabilized on Wednesday after falling for two straight days on concerns that slowing economic growth and rising Middle East output would extend a global supply overhang.

Oil fell on Tuesday, as rising output from the Middle East and North Sea renewed concerns about a global supply overhang.

US crude oil prices fell to almost $40 per barrel on Thursday, their lowest since the global financial crisis of 2009, as supplies rose in North America and the Middle East, filling stockpiles to record levels.

Prices were facing downward pressure following "signs that top producers in the Middle East were continuing to pump at record levels despite a growing global glut," said Singapore's United Overseas Bank in a market commentary.

Prices were supported by concerns that conflict in Iraq and Yemen could disrupt supplies after Islamic State militants said they had taken control of the Iraqi city of Ramadi in a big blow to the government.

Oil prices climbed to their highest levels of the year on Thursday as tensions in the Middle East sparked supply concerns, while the boost from energy-related stocks helped US equities shrug off a batch of soft economic data.

Supply cuts by OPEC , costly shipments from some traditional Middle East suppliers and geopolitical tension is driving India, the world's third biggest oil importer, to diversify its crude sources and accelerate its energy transition

Amid the ongoing Israel-Hamas conflict, Union Minister for Petroleum and Natural Gas Hardeep Singh Puri on Friday said that there is no expectation of any disruption in supply lines for crude oil so far.

Supply concerns and political tensions in Eastern Europe and the Middle East put prices on track for their biggest monthly gain in almost a year.

The rupee moved lower against the US dollar on Monday as crude oil prices continued to rise amid supply concerns. The rupee started lower at 72.03 against the US currency in intraday trade on Thursday, and dropped to as low as 72.11 during the day before paring some of those losses by the end of the session. Rising crude oil prices as escalating te...

Rising U.S. inventories and relative calm in the Middle East over the last week or so are countering the likelihood that the Organization of Petroleum Exporting Countries and allied producers will extend their output curbs.

Saudi Arabia raised oil production to an all-time high in November, an industry source said on Monday, as US President Donald Trump piled pressure on the kingdom to refrain from production cuts at an OPEC meeting next week.

During the first nine months of the year India's oil imports rose 1.8 percent to about 4.4 million bpd, with most supplies coming from the Middle East, followed by Africa and Latin America.

Tata Motors and Castrol on Thursday inked a three-year agreement under which the lubricants maker would supply commercial vehicle oils to the homegrown auto major in over 50 markets including SAARC and ASEAN region, Middle East, Africa, Russia and Latin America.

Many Middle East oil producers, including top exporter Saudi Arabia but also Iraq, Iran and the United Arab Emirates have ramped up their supplies to Asia in an aggressive fight for market share.

Oil prices stabilized on Wednesday after falling for two straight days on concerns that slowing economic growth and rising Middle East output would extend a global supply overhang.

Oil fell on Tuesday, as rising output from the Middle East and North Sea renewed concerns about a global supply overhang.

US crude oil prices fell to almost $40 per barrel on Thursday, their lowest since the global financial crisis of 2009, as supplies rose in North America and the Middle East, filling stockpiles to record levels.

Prices were facing downward pressure following "signs that top producers in the Middle East were continuing to pump at record levels despite a growing global glut," said Singapore's United Overseas Bank in a market commentary.

Prices were supported by concerns that conflict in Iraq and Yemen could disrupt supplies after Islamic State militants said they had taken control of the Iraqi city of Ramadi in a big blow to the government.

Oil prices climbed to their highest levels of the year on Thursday as tensions in the Middle East sparked supply concerns, while the boost from energy-related stocks helped US equities shrug off a batch of soft economic data.