Keywords: Oil
India’s state-owned refiners have purchased approximately 7 million barrels of crude oil through recent tenders, highlighting sustained import demand from one of the world’s largest energy consumers, according to trade sources. The combined purchases were made by Indian Oil Corporation (IOC)......
The OPEC+ alliance is expected to approve another increase in oil production targets, according to sources familiar with internal discussions, adding fresh supply to a market already under pressure from falling prices and shifting geopolitical conditions. The decision is expected to be formalised during......
Russian authorities said a Ukrainian drone attack struck an oil terminal in St. Petersburg, marking another reported attempt to target energy infrastructure far from the front lines of the conflict. Officials stated that air defence systems responded to the overnight attack, while emergency services......
The global oil market is expected to require three to four months to return to normal conditions following months of disruption in the Middle East, according to Patrick Pouyanné, who says lingering logistical challenges continue to distort prices despite the easing of regional tensions. Speaking......
Gasoline refined by India's Nayara Energy has been supplied to Russia through international trading firms, according to sources familiar with the transactions, highlighting a new development in energy trade as Moscow works to address fuel supply disruptions linked to damage to its energy infrastructure. The......
China’s refining giant Hengli Petrochemical has significantly reduced its refining activity after cancelling large volumes of crude oil purchases from West Africa and the Middle East, according to sources familiar with the matter. The decision reportedly affects at least 6 million barrels of crude,......
South Africa's manufacturing sector lost momentum in June as weaker customer demand led to a decline in new orders, according to the latest Absa Purchasing Managers' Index (PMI). While falling global oil prices helped improve expectations for the months ahead, overall business conditions in the......
The Indian rupee is expected to remain under pressure against the U.S. dollar over the coming months, despite recent policy measures by the Reserve Bank of India (RBI) aimed at attracting foreign capital and strengthening the country's external position. According to a Reuters survey of currency......
Russia has urged both the United States and Iran to take concrete steps to ensure the safety of maritime navigation in the strategically important Strait of Hormuz, one of the world’s key oil transit routes. The remarks were made by Russian Deputy Foreign Minister Georgy Borisenko, who stressed......
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