Crude oil

India's January Russian oil imports may fall sharply as Reliance expects no deliveries

India emerged as the biggest buyer of discounted Russian seaborne crude following the start of the Ukraine war in 2022. The purchases have fueled a backlash from Western nations.

Hungary's Orban says U.S. intervention in Venezuela good for energy markets

U.S. President Donald Trump, Orban's ally, who has exempted Hungary from U.S. sanctions on Russian energy for the 2026 Hungarian election year, has made clear that he wants to share in Venezuela's oil riches.

Opinion: U.S. oil refiners win, Chinese rivals lose in Trump’s Venezuela strike

Speaking on Saturday after announcing Maduro’s arrest on Truth Social, Trump said he would maintain the U.S. embargo on exports of sanctioned Venezuelan crude oil for now, but also stated that the U.S. would run Venezuela "for a period of time," suggesting U.S. restrictions could be lifted very soon.

PBF Energy provided an update on efforts to rebuild its Martinez refinery

Trump administration (U.S.) sets meetings with oil companies over Venezuela

The administration of President Donald Trump is planning to meet with executives from U.S. oil companies later this week to discuss boosting Venezuelan oil production after U.S. forces ousted its leader Nicolas Maduro, according to a source familiar with the matter.

India asks refiners for weekly Russian oil import data as it seeks U.S. trade deal

India became the biggest buyer of discounted Russian seaborne crude following the 2022 outbreak of the Ukraine war. But those purchases have fueled a backlash from Western nations, which have targeted Russia's energy sector with sanctions, arguing that oil revenues help fund Moscow's war effort.

Residual fuel fills Venezuela's storage tanks as exports cut to minimum

Most ships bound for Venezuelan ports for December and early January cargo deliveries have made U-turns, as the blockade spooks even vessels not under sanctions.

Indian Oil buys first Colombian oil under Ecopetrol contract

Indian refiners are scouting for crude as tighter U.S. and European Union sanctions on Moscow's producers and vessels are disrupting Russian oil imports.

China begins issuing second batch of 2026 crude import quotas to refiners

The newest allocation, combined with a small batch issued in late November, accounts for about 70% of the refiner's total quota for next year.

EIA: U.S. crude, fuel inventories rose in the week ended December 19

Monday's data release was delayed over six hours and released after the oil market had closed.