Iran loses market share in India as its Oil exports slump in November 2018
India’s oil imports from Iran dropped to a one-year-low in November, plunging by 41 per cent from October due to the U.S. sanctions, Reuters reported, …
Is UAE the new swing producer of crude oil in the middle east?
The United Arab Emirates (UAE) is now OPEC’s third-biggest producer, having surpassed Iran whose output has plunged below 3 million bpd with the U.S. …
India’s crude oil imports from Iran rise 36% in October 2018
India imported as much as 2.57 million tonnes of oil worth an overall $1.42 billion from Iran over the past month. The figure marked an increase of 36 per cent …
Production cuts are needed to stabilise oil markets, says Russia
Russia has started to concede that it needs to join a fresh Saudi-led oil production cut, but is still bargaining with its key partner in OPEC over how much, …
Brent oil price to average $75 a barrel next year: Platts Survey
Brent Crude is expected to average $75.50 a barrel next year, according to an S&P Global Platts survey of 11 top banks and oil brokers, who see OPEC …
India to set up gas exchange to ease shift from oil: Prime Minister Modi
India is working to establish a natural gas trading exchange, Prime Minister Narendra Modi said last week, as part of a shift away from a reliance on crude oil …
Saudi Arabia to open $22.7 billion mining project; to increase non-oil GDP by 3%
Saudi Arabia’s King Salman inaugurated last week the Waad Al-Shamaal project, a 440-square-km city for mining industries in the country’s northern …
India’s trade deficit widens to $17.13 billion in October 2018
India’s exports rose by 17.86 per cent to $26.98 billion in October mainly due to the low base effect even as trade deficit widened to $17.13 billion, …
IEA leaves global oil demand growth forecast unchanged
The International Energy Agency (IEA) has kept its forecast for global oil demand growth unchanged as lower oil prices may offset impact of weaker economy, it …
How buyers are lining up for Iran oil after U.S. exemptions
Armed with waivers to keep importing oil from Iran without running afoul of U.S. sanctions, several countries are preparing to manage the repercussions of …