Oil - Page 8

Ukraine will reportedly begin curbing its imports of diesel fuel from India beginning next month, due to India’s insistence on buying huge amounts of discounted Russian crude oil.

The American Petroleum Institute (API) unveiled its policy roadmap, which urges Congress to modernize the country’s outdated permitting system to help ensure low American energy costs.

The headlines have lately been filled with stories of rising tension between the U.S. and India, sparked by President Donald Trump’s tariffs and his insistence on India cutting back its purchases of Russian oil, but Indian Commerce Minister Piyush Goyal was upbeat on Tuesday about the prospects of signing a trade deal by November.

On Tuesday’s broadcast of MSNBC’s “11th Hour,” Oregon Attorney General Dan Rayfield (D) stated that if President Donald Trump is successful in his legal battle to use emergency powers to implement tariffs, then when a Democrat becomes president, “we’re going

Economic analysts predicted this week that the money India saved by importing huge amounts of discounted Russian oil will be more than wiped out by President Donald Trump’s punitive tariff increase, which took effect on Wednesday.

According to shipping data, the top buyers of Russian seaborne fuel in July were Saudi Arabia and India, although India has backed off Russian oil imports slightly.

Indian Foreign Minister Subrahmanyam Jaishankar met with Russian President Vladimir Putin in Moscow on Thursday.

On Wednesday’s broadcast of the Fox Business Network’s “Mornings with Maria,” Interior Secretary Doug Burgum stated that President Donald Trump plans to hold China accountable for its purchase of Russian oil the way he’s attempting to do with India “and

California Gov. Gavin Newsom (D) has done a flip-flop on oil production, with the state facing steep gas price hikes, and is now trying to work with the fossil fuel industry to produce more fuel rather than stopping it.

President Donald Trump’s call to “drill baby drill” includes unleashing all forms of U.S. energy, Interior Secretary Doug Burgum said during an appearance on Breitbart News Daily.

Indian National Security Adviser Ajit Doval touted his government’s “strategic partnership” with Russia on Thursday after meeting with Russian military officials.

The National Oil Corporation (NOC) of Libya announced a memorandum of understanding (MOU) with ExxonMobil on Monday, potentially jump-starting the oil giant’s activities in war-torn Libya after more than a decade of inactivity.

Indian Prime Minister Narendra Modi urged his citizens to buy local products, and scheduled a rare diplomatic visit to regional adversary China, as trade negotiations with the United States came to an impasse this week.

President Donald Trump will hike tariffs on India to 50 percent beginning later this month in response to India’s purchases of Russian oil.

Saudi Aramco, the national oil company of Saudi Arabia, posted a 22 percent decline in profits for the second quarter of 2025.

India’s Asian News International (ANI) on Sunday quoted sources in New Delhi who said India has “dramatically increased its crude oil imports from the United States since President Donald Trump returned to the White House for his second term.”

India’s state-owned oil refineries stopped buying Russian oil last week, after President Donald Trump and NATO Secretary-General Mark Rutte warned Moscow’s oil customers they could face crushing secondary sanctions for financing the war in Ukraine.

On Tuesday’s broadcast of Newsmax TV’s “The Record,” Special Presidential Envoy for Russia and Ukraine Keith Kellogg said that the United States has not really gone after Russia’s money flows from oil that hard and that the level of sanctions

On Tuesday’s broadcast of the Fox News Channel’s “Special Report,” Energy Secretary Chris Wright said that putting sanctions on Russian oil is “the biggest pressure you can put on them.” And putting these sanctions in place is “a very real

Indian Oil Minister Hardeep Singh Puri said on Thursday that India will be able to get the oil it needs, even if President Donald Trump imposes steep secondary tariffs on countries that do business with Russia.

North Atlantic Treaty Organization (NATO) Secretary-General Mark Rutte on Wednesday warned Brazil, China, India, and other heavy buyers of Russian oil they could face stiff secondary sanctions if they keep doing business with Moscow.

Indian Foreign Minister Subrahmanyam Jaishankar on Tuesday met with his Chinese counterpart Wang Yi, and dictator Xi Jinping, on the sidelines of the Shanghai Cooperation Organization (SCO) summit in Beijing.

The Organization of the Petroleum Exporting Countries (OPEC) on Thursday released an updated forecast for 2050 which anticipated soaring demand for oil in the medium and long term, once China’s economic outlook improves.

Iran’s top customer for oil, China, massively increased its purchases in the first three weeks of June just before Israel began striking Iranian nuclear sites.

Indonesian officials said on Monday they will begin easing import restrictions and licensing requirements ahead of the July 9 deadline for U.S. tariff negotiations.

On Thursday’s broadcast of the Fox News Channel’s “Hannity,” Sen. Ted Cruz (R-TX) said that there are some in the Trump administration “urging, let’s cut a deal, let’s let Iran sell oil, lets lift all the sanction[s],” and “it would

Shipping rates on routes that could be affected by the Israel-Iran conflict skyrocketed by up to 76 percent in June.

Oil prices sunk more than three percent early Tuesday morning.

South Korean Acting Finance Minister Lee Hyoung-il said on Sunday that his government will “swiftly take any necessary measures” to cope with economic fallout from the conflict with Iran.

Oil prices fell around one percent Monday morning.

Despite the geopolitical shock, the modest scale of the rally suggested traders were not yet pricing in a prolonged disruption to global supply—or doubted that Iran would escalate in a way that threatens oil flows.

Saudi international relations expert Dr. Salem Alyami told Saudi news network Al Arabiya on Wednesday that the Kingdom’s major diplomatic concern at the moment is containing the Iran-Israel conflict to keep the rest of the Middle East from destabilizing.

A sharp rise in global oil prices following Israeli strikes on Iran will benefit Russia and bolster its military capabilities in the war in Ukraine, Ukrainian President Volodymyr Zelensky said.

The German Foreign Ministry has produced a report for the European Union (E.U.) found China was responsible for approximately 80 percent of attempts to circumvent sanctions against Russia.