Indian state refiners are planning to cut oil imports from Saudi Arabia by about a quarter in May, in an escalating stand-off with Riyadh following OPEC's decision to ignore calls from New Delhi to help the global economy with higher supply.
Indian state refiners are planning to cut oil imports from Saudi Arabia by about a quarter in May, in an escalating stand-off with Riyadh following OPEC's decision to ignore calls from New Delhi to help the global economy with higher supply. Two sources familiar with the discussions said the move was part of the government's drive to cut dependence on crude from the Middle
Indian Oil Corp, Bharat Petroleum Corp., Hindustan Petroleum Corp and Mangalore Refinery and Petrochemicals Ltd are preparing to lift about 10.8 million barrels in May, the sources said on condition of anonymity
Mar 11 2021, 12:21 PM
March 10 2021, 5:16 AM
March 11 2021, 12:21 PM
(Bloomberg) Oil closed higher after traders assessed a U.S. government report showing the largest two-week decline in gasoline supplies on record, while signs emerged of demand picking up.
(Bloomberg) Oil closed higher after traders assessed a U.S. government report showing the largest two-week decline in gasoline supplies on record, while signs emerged of demand picking up.
Futures in New York rose 0.7% on Wednesday after earlier flipping between modest gains and losses. Domestic gasoline supplies slid last week to the lowest in about four months, while demand rose to the highest since November, according to Energy Information Administration data. Further price gains were tempered by a 13.8-million-barrel increase in crude inventories, with shale drillers boosting output following an unprecedented cold blast in the U.S. South.