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India’s imports of crude petroleum from the US in the first eight months of the current fiscal registered a year-on-year increase of more than 92% compared with the same period in 2024, with Russia remaining the biggest supplier of the product between April and Nov 2025.As per data from the ministry of commerce and industry,…
India is watching developments in Venezuela with a mix of caution and concern as geopolitical churn around the oil-rich nation raises questions about global supply, price volatility and long-term energy security.Driving the newsPresident Donald Trump said on Saturday that the United States would take temporary control of Venezuela and tap its vast oil reserves for…
Since the start of the Ukraine conflict in 2022, India has been the largest buyer of discounted Russian seaborne oil. (AI image) India is looking to seal a trade deal with the US and is monitoring weekly data on crude oil purchases from Russia and America, according to a Reuters report. Oil refiners have been…
The situation in Bangladesh remains tense, with violence continuing to erupt. On Wednesday, a man was killed after miscreants hurled a crude bomb from a flyover in Dhaka’s Moghbazar area, the Daily Star reported.The deceased was identified as Saiful. The incident took place around 7pm, according to inspector (operations) of Hatirjheel Police Station, Md Mohiuddin,…
Venezuela is producing approximately 900,000 barrels per day (kbd) of crude oil and condensate, which makes up about 1% of the global oil supply. (AI image) US President Donald Trump’s latest escalation in tensions and blockade of Venezuela oil tankers may have little impact on the global crude oil market, believes global real-time data and…
Deliveries of Russian oil to India are projected to decrease to around 600,000 barrels per day next month. (AI image) Donald Trump’s sanctions on Russian crude majors may have the effect of India’s oil imports from Russia dropping to a four year low in January 2026. The Trump administration has been piling pressure on India…
The rupee plunged to a historic low on Wednesday, slipping past the 90-per-dollar threshold for the first time amid foreign fund outflows, firm crude oil prices and uncertainty around the India–US trade deal, according to PTI. The lack of visible RBI intervention through most of the session added to market pressure, forex traders said.At the…
Russia has maintained its position as India’s primary supplier in November, providing over one-third of all crude oil imports. (AI image) Donald Trump’s sanctions on Rosneft and Lukoil – two of Russia’s major crude firms – may result in India’s imports of oil from Moscow dropping – but will this shift be permanent? Analysts expect…
India’s main refiner, IOC, has maintained its procurement of non-sanctioned Russian crude over several weeks. (AI image) With major Russian oil firms Rosneft and Lukoil being sanctioned, India’s state-run oil refiners are now picking up non-sanctioned crude – and that too at lucrative discounts! US President Donald Trump sanctioned the two Russian crude oil majors…
US sanctions on Rosneft and Lukoil are having a softer financial impact on Indian refiners than initially feared, with wider discounts on Russian crude nearly offsetting the expected drop in volumes. Indian state-owned and private refiners have halted cargoes from the two sanctioned firms and are instead sourcing from non-sanctioned suppliers. Recent tenders for January…
