Oil Import | The Asian Age

Thursday, Apr 25, 2024 | Last Update : 08:25 PM IST

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Traders said China’s weakening economy also weighed on oil prices.

Oil slides as US crude production hits record, Asia factory output weakens

WTI crude oil futures were at USD 56.92 per barrel, down 2 cents from their last settlement.

28 Feb 2019 10:23 AM

International Brent futures were at USD 64.66 a barrel at 0346 GMT, down 10 cents, or 0.2 per cent, from their last close.

Oil dips after Trump calls on OPEC to ease high prices

OPEC and some non-affiliated producers such as Russia agreed late last year to cut output by 1.2 million barrels per day.

26 Feb 2019 10:41 AM

International Brent crude futures were at USD 66.87 per barrel at 0326 GMT, down 20 cents, or 0.3 per cent, from their last close.

Oil prices fall as US crude output hits record 12 million bpd

WTI crude oil futures were at USD 56.84 per barrel, down 12 cents, or 0.2 per cent

22 Feb 2019 10:14 AM

US crude oil stocks rose by 1.3 million barrels to 448.5 million barrels in the week to Feb 15.

Oil hovers near 2019 highs amid OPEC cuts

Oil prices have been driven up this year by supply cuts led by the Organisation of the OPEC.

21 Feb 2019 4:34 PM

OPEC-member and top crude exporter Saudi Arabia is expected to reduce shipments of light crude oil to Asia.

Oil near 2019 highs amid OPEC cuts, US sanctions

OPEC as well as some non-affiliated producers such as Russia agreed late last year to cut output by 1.2 mn barrels per day.

20 Feb 2019 11:00 AM

Traders said the slight downward correction was driven by concerns about the health of the global economy this year.

Brent oil eases from 2019 highs as markets await trade talks outcome

Brent crude oil futures were at USD 66.08 per barrel at 0220 GMT, down 42 cents, or 0.6 per cent from their last close.

19 Feb 2019 1:34 PM

Brent earlier climbed to USD 66.78 a barrel, the highest since November 2018.

Brent crude oil slips away from 2019 high after China reports car sales drop

At least partly offsetting the supply cuts has been a surge in US crude oil production by more than 2 million bpd in 2018.

18 Feb 2019 10:21 AM

International Brent crude oil futures were down by 26 cents, or 0.4 percent, at USD 62.43 per barrel.

Oil falls as US maintains record output, inventories climb

US crude oil production remained at the record 11.9 million barrels per day (bpd) it reached in late 2018.

07 Feb 2019 10:28 AM

The country’s oil imports from Iran have already declined in FY18 to 22.6 million tonnes (mt) from a level of 27.2 mt in FY17.

US could offer oil at discount to compensate for Iran curbs

Crude imports from US may more than double to USD 8 billion this year.

21 Jan 2019 9:59 AM

US West Texas Intermediate (WTI) crude futures were down 47 cents, or 0.9 per cent, at $51.12 a barrel.

Oil slides on China trade slump, but crude imports remain high

Crude futures were back in the red as trading began for a fresh week in Asia.

14 Jan 2019 10:35 AM

The United States in early Nov granted India a six-month waiver from sanctions against Iran’s oil exports.

HPCL to buy Iranian oil in Jan after six-month gap: sources

HPCL would continue to buy Iranian oil on a regular basis during the waiver period.

07 Dec 2018 11:16 AM

US allowing India to keep buying Iranian oil: Pradhan

The US will allow the eight nations to import Iranian oil but only at much lower levels.

03 Nov 2018 5:02 PM

The government stares at 42 per cent higher oil import bill in FY19 compared with FY18.

Prime Minister Modi’s fiscal may skid on high oil bill

The $125 billion import bill for the current financial year is high but it is still not the right estimate.

23 Oct 2018 10:49 AM

India is projected to see the largest additional oil demand (3.7 per cent per annum) and the fastest growth in the period to 2040.

India oil demand to rise by 5.8 million barrels per day by 2040: OPEC

Global oil demand is expected to increase by 14.5 million bpd from 2017 to 111.7 million bpd in 2040.

16 Oct 2018 11:28 AM

Indian refiners will either have to significantly reduce or completely stop importing crude oil from Iran over the next month, increasing their dependence on other Middle Eastern suppliers like Saudi Arabia and Iraq, Moody's Investors Service said on Thursday.

India should reduce or stop crude oil import from Iran: Moody's

US is working with countries that import Iranian oil to cut their purchases substantially.

27 Sep 2018 12:41 PM

India, the world’s third-biggest oil importer, is considering reducing oil purchases to mitigate the pain of high crude prices and the declining rupee, said two sources at different Indian refineries with direct knowledge of the matter.

Indian refiners may reduce oil imports as crude prices soar, rupee struggles

It is becoming a headache for Modi govt ahead of general elections next year.

24 Sep 2018 10:50 AM

India refiners shipped in 1.02 million barrels per day (bpd) of Iraqi Basra oil in August.

Iraq replaces Saudi as top oil supplier to India in August: report

Overall India’s monthly oil imports in August rose 3.1 per cent to about 4.7 million barrels.

11 Sep 2018 9:19 AM

India loaded about 7,15,600 bpd oil from Tehran in the April-June 2018, a growth of about 45 per cent from the previous quarter.

India loaded 12 pc less Iranian oil in June than in May

Indian refiners bought around 6,64,000 barrels per day (bpd) of Iranian oil in June.

31 Jul 2018 8:22 AM

India retail inflation to average 4.9 per cent in the year ending March 2019, up from 4.7 per cent

India to hold top spot for economic growth but oil poses risk: reports

India’s economy has started to recover after a slowdown caused by a ban on high-value currency notes in November 2016.

25 Jul 2018 9:50 AM

Oil imports rose 56.61 per cent to $12.73 billion.

Trade deficit widens to more than five-year high in June

India’s trade balance is further bruised by a weakening Indian rupee that hit an all-time low against the dollar last month.

14 Jul 2018 10:07 AM

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Dilip Cherian