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Official representatives of Indian companies Indian Oil and Bharat Petroleum told Bloomberg that in November there would be no supplies of Iranian oil, as their companies did not order tankers. Iran does not plan to buy oil from Iran either from Nayara Energy, Mangalore Refinery or Petrochemicals. Thus, according to Bloomberg, India, the second-largest buyer of Iranian oil, is not going to buy oil from Iran in November. According to tanker movements, in 2018, India imported an average of 577,000 barrels of oil per day, which corresponds to 27% of Iran's exports. In August, India reduced the purchase of oil from Iran by 380,000 barrels per day.
Oil traded higher on Friday, further reclaiming lost ground from three-week lows in the previous session as the COVID-19 situation continued to dent the global economy as well as oil consumption. Brent crude gained 0.3%, trading at $43.08 ...
Oil prices fell on Thursday as the rising global coronavirus cases weighed on fuel demand recovery just as OPEC+ producers are set to increase supply. The Brent contract for October slid 0.05%, or 2 cents, at $44.07 per barrel, while the September ...
Oil prices climbed on Wednesday after U.S. crude inventories fell against analysts’ expectations, prompting a boost in the market amid the coronavirus resurgence. Brent crude futures gained 0.3%, or 14 cents, at $43.36 per barrel. U.S. ...
Oil prices gained for the third day on Tuesday, supported by a bounce in demand from efforts to lift the U.S. economy as it struggles to recover from the coronavirus pandemic. Prices were also buoyed by a weakening dollar, making it ...
Oil prices fell on Monday as a surge in coronavirus cases and the escalating U.S.-China tensions prompted a safe-haven bid. Brent crude slid 0.2%, or 8 cents, at $43.26 per barrel. U.S. West Texas Intermediate crude fell 0.2%, or 7 cents, ...
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