Asian imports of Iranian crude fell 9.2 per cent in March from a year ago as India bought no oil from the sanctions-hit country for the first time in at least a decade under US pressure, offsetting a jump in purchases by Japan and South Korea.
Iran's crude oil exports have risen in April following softer sales last month, helped by a framework nuclear agreement between Tehran and world powers and the possibility that Western sanctions could be lifted soon.
Iraq's State Oil Marketing Organisation (Somo) has informed its partners they can start loading Basra Heavy crude from June, changing last week's decision to launch the new grade in May, two sources with direct knowledge of the matter
Iraq's State Oil Marketing Organisation (Somo) has informed its partners they can start loading Basra Heavy crude from May, instead of its flagship light grade, two sources with direct knowledge of the matter said.
Brent crude oil prices fell on Friday, ending a run of rallies earlier in the week, after Opec said that its output surged in March, adding to a global glut.
The Organization of the Petroleum Exporting Countries (Opec) said that i
Qatar's Tasweeq has sold five cargoes of Al-Shaheen crude for June loading at the highest levels in 10 months on robust demand in Asia, trade sources said on Friday.
The cargoes were sold at discounts of 35-40 cents a barrel t
Crude oil prices jumped to fresh 2015 peaks, turning higher on news that a tribal group made up of former Al Qaeda militants took control of a major southern oil terminal in Yemen.
The terminal is one of the major hubs for the Had
Iraq's oil minister said his country's oil exports should hit a record of about 3.1 million barrels per day in April as output from the country's southern fields stays strong and weather conditions improve.
South Korea's imports of Iranian crude doubled in March from a year earlier but the country's oil shipments from the Opec country in the first quarter of this year fell 16 percent year- on-year to meet international sanction requiremen