Crude oil prices declined on Friday, extending losses from Thursday's sharp drop. The easing of geopolitical tensions between the U.S. and Iran, along with rising U.S. stockpiles, contributed to the downward pressure on global benchmarks.
Crude oil prices declined Wednesday after four days of gains, pressured by Venezuela restarting exports and rising US inventories. Geopolitical tensions in Iran provided some support.
India has slipped to the third position among importers of Russian crude oil, with China now leading. This shift reflects changing global energy dynamics and market strategies.
President Trump announces a $4.2 billion oil deal with Venezuela's new leadership, as the US moves to control the nation's oil sales and seeks $100B in private investment. Read the full story.
The US, the world's largest oil producer, still relies on imports of heavy sour crude. Discover why Venezuelan oil is key to American refineries and the complex geopolitics shaping this energy dependence. Read the full analysis.
Expert Brahma Chellaney questions Reliance's deal to buy Venezuelan crude from the US at higher cost than Middle East imports, calling it a political signal to Trump administration.
The US is ready to sell Venezuelan crude oil to India. Reliance Industries is in talks for approval to resume purchases, a major shift in global energy trade.
Reliance Industries is negotiating with US authorities for a permit to purchase Venezuelan crude. This follows progress in US-Venezuela talks to ship 50 million barrels of oil. Read the full report.
The US proposes a controlled system for India to buy Venezuelan oil, aiming to diversify supplies while maintaining pressure to reduce Russian crude imports. A test for India's strategic autonomy.
Reliance Industries may resume buying Venezuelan crude if sales to non-US firms are permitted. This move could offer India a discounted, politically acceptable oil source amid pressure to cut Russian imports. Read more.
Reliance Industries is reportedly considering resuming Venezuelan crude oil purchases. This follows a halt in March 2026 after US tariffs. Explore the potential impact on India's energy sector.
Ace your UPSC Prelims 2026 prep with this essential Economy quiz. Test your knowledge on thorium reserves, global trade reports, Venezuelan crude oil, and India's mango production. Revise crucial static topics now!
Despite being the world's largest oil producer, US refineries rely on heavy crude from Venezuela, Canada & Mexico. Learn why the shale boom hasn't solved this dependency.
Following the capture of Venezuelan President Nicolas Maduro, the US announces a historic energy initiative to stabilise Caracas's oil sector and allow its crude into global markets under US oversight. Read the full details.
The US announces a selective rollback of sanctions on Venezuela, granting a license for crude oil sales. This major policy shift aims to boost global supply and follows a deal between Maduro's government and the opposition. Read the full details.
President Trump announces Venezuela's interim authorities will transfer 30-50 million barrels of oil to the US. Proceeds controlled by US govt for mutual benefit. Details inside.
President Trump announces Venezuela's interim authorities will transfer 30-50 million barrels of oil to the US, to be sold at market price. Details on the deal's impact and revenue.
The US action to arrest Maduro and seize Venezuela's oil aims to curb China's influence. However, China's shrinking crude demand and teapot refiners' struggles pose a major hurdle for any revival. Read the full analysis.
India's crude oil import cost averages $59.92/barrel in January. Analysts predict further fall to $53.31 by March, easing the nation's import bill. Read the full analysis.
Discover the real reason behind US interest in Venezuela's oil reserves. It's not just about quantity, but the specific type of crude. Read the full analysis now!
India's crude oil imports from Russia are poised for a sharp decline in January, potentially hitting a multi-year low, as Reliance Industries halts shipments. Explore the impact of US pressure and trade talks.
Oil prices declined as markets anticipate increased Venezuelan crude output post-US action. Analysts see potential for 500,000 bpd rise, but global demand and OPEC remain key. Read for price outlook.
A new SBI Research report forecasts a significant decline in global crude oil prices to around $50 per barrel by mid-2026. Discover the key drivers and what this means for India's economy and inflation.
SBI Research predicts a sharp fall in crude oil prices to $50 per barrel by mid-2026, driven by inventory buildup. This significant softening is expected to positively impact India's inflation and economic growth. Read the full analysis.
US intervention in Venezuela could unlock discounted heavy crude for India's complex refineries, offering diversification amid pressure on Russian oil imports. Experts see medium-term gains.
India's crude oil imports from the US soared over 92% in April-Nov 2025. Russia remains the largest supplier, but its share fell to 33.7%. Explore the shifting energy dynamics.
US military action in Venezuela is expected to trigger a surge in crude oil and commodity prices due to geopolitical tensions. However, India's minimal trade ties mean limited economic impact. Read expert analysis.
The capture of Venezuela's Maduro reshapes global oil flows. U.S. Gulf Coast refiners stand to gain from renewed heavy crude access, while Canadian producers face long-term competition. Full analysis inside.
Russian crude suppliers now offer Indian refiners discounts up to $8 per barrel, doubling since October. This could lower India's import bill as global oil prices hover around $60. Read more.
Oil markets opened 2026 cautiously as a forecast 3.8 million barrel daily surplus counters Middle East tensions. Key OPEC meeting set for Jan 4. Read the full analysis.