Venezuela oil output declines to 870,000 bpd in March: IEA

U.S. sanctions, political troubles and repeated power blackouts pushed Venezuela’s crude production to a long-term low of 870,000 barrels per day (bpd) in March, the International Energy Agency (IEA) said in its latest report, even lower than OPEC reported the day before. “The blackouts are an additional challenge for Venezuela’s oil sector, already set back […]

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India’s crude oil imports from Iran fall 50% in February 2019

India’s crude oil imports from Iran and Venezuela fell 50 per cent and 4.2 per cent year-on-year, respectively, in February 2019, fresh data sourced from the Directorate General of Commercial Intelligence and Statistics (DGCIS) showed. Iran and Venezuela are facing crippling economic sanctions by United States, hampering oil exports from these countries. While sanctions targeting […]

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US wants India to stop buying Venezuelan oil

The United States has pressed India to stop buying Venezuelan crude oil as a means of accelerating President Nicolas Maduro’s removal from office, which Washington has made its top priority in Latin America recently. “We say you should not be helping this regime. You should be on the side of the Venezuelan people,” the U.S. envoy […]

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Global liquid fuels production to outpace demand: EIA

Global liquid fuels production is expected to exceed global consumption through 2020, the U.S. Energy Information Administration (EIA) said in its Short-Term Energy Outlook. EIA forecast that higher U.S. crude oil production growth and slightly lower global oil consumption will offset the short-term supply reductions. As a result, global petroleum liquids stocks will increase and […]

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