Oil & Gas
Find the latest oil & gas news, government tender updates, and real-time prices from top sources for the Indian energy industry. The next-gen platform also help...
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Daily Report on Oil & Gas Industry
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Geopolitical Tensions and Market Shifts Drive Energy Trends
The petroleum market is influenced by geopolitical tensions, inventory dynamics, and regional production trends. Crude prices have shown modest fluctuations, while inventory data and escalating geopolitical risks weigh heavily on market sentiment.
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Crude Oil Prices Edge Higher; India Sticks to Russian Discounts
Global petroleum markets are experiencing fluctuations driven by geopolitical tensions, production halts, and demand-supply dynamics. While oil futures recorded marginal gains, India continues to source discounted Russian crude oil, reinforcing its dependency. Meanwhile, disruptions in major oilfields and OPEC+ policy decisions will play a pivotal role in shaping the market outlook.
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Weak Chinese Demand and Supply Glut Weigh on Crude Prices
Crude oil prices witnessed a modest rise driven by geopolitical tensions and fluctuating market dynamics. China's reduced refinery throughput and subdued crude oil demand significantly influenced the market, dampening global oil price gains. Additionally, the International Energy Agency (IEA) forecasts a global supply surplus in 2025 despite OPEC+ production cuts.
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Nigeria Aims for 2 mbpd Crude Production by 2024 with Pipeline Security Efforts
Global oil prices dropped as Brent and WTI futures fell 0.9% each amid weak demand and a stronger US dollar. Nigeria boosted crude production to 1.8 mbpd, targeting 2 mbpd by late 2024. Suriname’s oil development progressed with a major investment in Block 58.
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Oil Prices Dip Amid China’s Weak Demand and Bearish Market Outlook
Oil prices have declined, driven by weak demand from China and potential supply increases from the U.S. and OPEC+. Brent and WTI futures fell, while the IEA forecasts a supply surplus by 2025. Additionally, U.S. crude inventories rose last week, with gasoline and distillate stocks unexpectedly dropping.
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Oil Prices Slide Amid Rising Output and Weak Demand Forecasts
Oil prices saw a decline as global production forecasts rose amid slowing demand growth. OPEC recently lowered its global oil demand outlook due to reduced consumption in Asia, particularly China. Market sentiment remains cautious as participants await the International Energy Agency’s report for additional insights.
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Crude Oil Prices Edge Up Amid OPEC Demand Cuts and U.S. Inventory Build
OPEC and the EIA have lowered their oil demand forecasts for 2024 and 2025 due to slower economic recovery in China and the global push toward clean energy. U.S. crude inventories rose by over two million barrels, reflecting slower demand growth, while support for crude oil prices remains in a limited range as futures attempt to hold steady.
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Pipes Market Faces Aggressive Pricing; Demand Set to Rise
The pipes market is currently seeing aggressive pricing in the DI segment. However, a price rise is expected in the coming weeks due to anticipated demand growth. The MS and ERW pipe segments have already seen price increases. Despite liquidity challenges, the sector is expected to pick up pace as fiscal year-end approaches.
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Crude Oil Pressured by Weak China Demand, Rising Dollar, and Oversupply Fears Summary
Oil prices experienced slight declines in December and January futures amid rising U.S. dollar strength and tepid demand outlooks from China. Market sentiment remains mixed as economic support from China falls short of expectations, and ongoing geopolitical issues add uncertainty.
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Daily Report on Oil & Gas Industry
Geopolitical Tensions and Market Shifts Drive Energy Trends
The petroleum market is influenced by geopolitical tensions, inventory dynamics, and regional production trends. Crude prices have shown modest fluctuations, while inventory data and escalating geopolitical risks weigh heavily on market sentiment.
Read Story
Crude Oil Prices Edge Higher; India Sticks to Russian Discounts
Global petroleum markets are experiencing fluctuations driven by geopolitical tensions, production halts, and demand-supply dynamics. While oil futures recorded marginal gains, India continues to source discounted Russian crude oil, reinforcing its dependency. Meanwhile, disruptions in major oilfields and OPEC+ policy decisions will play a pivotal role in shaping the market outlook.
Read Story
Weak Chinese Demand and Supply Glut Weigh on Crude Prices
Crude oil prices witnessed a modest rise driven by geopolitical tensions and fluctuating market dynamics. China's reduced refinery throughput and subdued crude oil demand significantly influenced the market, dampening global oil price gains. Additionally, the International Energy Agency (IEA) forecasts a global supply surplus in 2025 despite OPEC+ production cuts.
Read Story
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