Crude Oil Sales

Fresh U.S. sanctions on Moscow threaten to dent Russian oil sales to India, the biggest buyer of Russian seaborne crude, and complicate efforts by Indian state refiners to secure annual supply deals, three industry sources familiar with the matter sa

Russian oil sales to India surged more than twentyfold last year as European buyers turned to other markets following the conflict in Ukraine, Russia's deputy prime minister said Tuesday.

Russia may cut oil output by 5%-7% in early 2023 as it responds to price caps on its crude andoilproducts by halting sales to the countries which support them, the RIA news agency reported.

Rosneft sold 700,000 tonnes of Urals oil loading from Baltic ports of Primorsk and Ust-Luga in May to Indian Oil Corp.

The Union Cabinet on Wednesday approved deregulation of sale of domestically produced crude oil

Rosneft sold 700,000 tonnes of Urals oil loading from Baltic ports of Primorsk and Ust-Luga in May to Indian Oil Corp.

Brent futures rose 69 cents to settle at $90.03 a barrel, after hitting $91.70, the highest level since October 2014. U.S. crude closed 21 cents higher at $86.82 per barrel, after hitting a seven-year peak of $88.84 during the session.

Fuel consumption in India rose to 19.41 million tonnes, the highest since March 2019 as per the oil ministry's Petroleum Planning and Analysis Cell data.

Initial government estimates show that India's fuel demand is likely to grow 5.5% in the next fiscal year beginning April 1, reflecting a pick-up in industrial activity and mobility in Asia's third largest economy.

Oil prices fell on Thursday after Brent crude hit a seven-year high above $90 a barrel, as the market balanced concerns about tight worldwide supply with expectations the U.S.

Brent futures rose 69 cents to settle at $90.03 a barrel, after hitting $91.70, the highest level since October 2014. U.S. crude closed 21 cents higher at $86.82 per barrel, after hitting a seven-year peak of $88.84 during the session.

The sale of SPR oil, which is mainly blended sour crude, is expected to depress the value of U.S. sour crude Mars and benefit buyers in Asia which processes mainly high-sulphur oil.

The United States will sell 32 million barrels of crude from four Strategic Petroleum Reserve (SPR) sites to be delivered between late-December and April 2022, the Department of Energy (DOE) said as it auctions oil to try to lower global prices.

Here's how the automotive industry reacted to the Voluntary Vehicle Scrappage Policy launch.

Daily sales of gasoline rose to 76,500 tonnes in July, a jump of about 3.6 per cent over the corresponding 2019 period and 5.7% over June this year, preliminary industry data showed on Friday.

Fresh U.S. sanctions on Moscow threaten to dent Russian oil sales to India, the biggest buyer of Russian seaborne crude, and complicate efforts by Indian state refiners to secure annual supply deals, three industry sources familiar with the matter sa

Russian oil sales to India surged more than twentyfold last year as European buyers turned to other markets following the conflict in Ukraine, Russia's deputy prime minister said Tuesday.

Russia may cut oil output by 5%-7% in early 2023 as it responds to price caps on its crude andoilproducts by halting sales to the countries which support them, the RIA news agency reported.

Rosneft sold 700,000 tonnes of Urals oil loading from Baltic ports of Primorsk and Ust-Luga in May to Indian Oil Corp.

The Union Cabinet on Wednesday approved deregulation of sale of domestically produced crude oil

Rosneft sold 700,000 tonnes of Urals oil loading from Baltic ports of Primorsk and Ust-Luga in May to Indian Oil Corp.

Brent futures rose 69 cents to settle at $90.03 a barrel, after hitting $91.70, the highest level since October 2014. U.S. crude closed 21 cents higher at $86.82 per barrel, after hitting a seven-year peak of $88.84 during the session.

Fuel consumption in India rose to 19.41 million tonnes, the highest since March 2019 as per the oil ministry's Petroleum Planning and Analysis Cell data.

Initial government estimates show that India's fuel demand is likely to grow 5.5% in the next fiscal year beginning April 1, reflecting a pick-up in industrial activity and mobility in Asia's third largest economy.

Oil prices fell on Thursday after Brent crude hit a seven-year high above $90 a barrel, as the market balanced concerns about tight worldwide supply with expectations the U.S.

Brent futures rose 69 cents to settle at $90.03 a barrel, after hitting $91.70, the highest level since October 2014. U.S. crude closed 21 cents higher at $86.82 per barrel, after hitting a seven-year peak of $88.84 during the session.

The sale of SPR oil, which is mainly blended sour crude, is expected to depress the value of U.S. sour crude Mars and benefit buyers in Asia which processes mainly high-sulphur oil.

The United States will sell 32 million barrels of crude from four Strategic Petroleum Reserve (SPR) sites to be delivered between late-December and April 2022, the Department of Energy (DOE) said as it auctions oil to try to lower global prices.

Here's how the automotive industry reacted to the Voluntary Vehicle Scrappage Policy launch.

Daily sales of gasoline rose to 76,500 tonnes in July, a jump of about 3.6 per cent over the corresponding 2019 period and 5.7% over June this year, preliminary industry data showed on Friday.