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When President Trump first assumed office, India had a 2.7 percent share of US crude oil exports, receiving 140,000 barrels of the 5.2 million exported daily. By 2020, India’s share had increased to 5.5 percent or 471,000 of 8.5 million barrels.
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Brent futures rose $1.03, or 1.3%, to $80.58 a barrel by 12:03 p.m. EST (1703 GMT). US West Texas Intermediate (WTI) crude rose $1.31, or 1.8%, to $75.68.
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The sale would come almost 45 years after Texas oilman Autry Stephens started the company that would become Endeavor. The 85-year-old wildcatter has decided to capitalize on a wave of mega deals sweeping the sector, the sources said.
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The Board of Investment said that RM Parks Inc, a California-based US fuel distribution company, signed an agreement for an Investment of $100 million.
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By Stephanie KellyNEW YORK Oil prices leapt 5% on Friday, with Brent on track for its highest weekly gain since February, as investors priced in th..
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Brent crude futures rose $1.16, or 1.5%, to $79.53 a barrel by 12:24 p.m. EDT (1624 GMT), while West Texas Intermediate (WTI) crude rose $1.99, or 2.7%, to $76.75.
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China, the world's top oil importer, on Friday reported a new daily record for COVID-19 infections, as cities across the country continued to enforce mobility measures and other curbs to control outbreaks
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Brent crude prices also climbed for a fourth day on the supply anxiety, particularly after the Organization of the Petroleum Exporting Countries (OPEC) and its allies, known as OPEC+, decided on Monday to say with their planned output increase rather than boosting it further.
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Valued at $13.3bn including debt, this is not only the year’s biggest deal but the third major transaction in the US shale industry in under three months
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Exxon shares fell more than 1 percent after the company told analysts attending its annual investor meeting that it plans to lift spending by 10 percent or more for the next several years as rivals are sidelining equipment and capping spending to boost shareholder returns.
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State-run IOC had previously purchased US oil from spot markets and signed a mini-term deal in August to buy 6 million barrels of U.S. oil between November to January.
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The climate impact of these leaks in 2015 was roughly the same as the climate impact of carbon dioxide emissions from all US coal-fired power plants operating in 2015, researchers found.
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U.S. West Texas Intermediate (WTI) crude futures were at $60.64 a barrel at 0220 GMT, up 22 cents, or 0.4 percent, after hitting a June 2015 high of $60.68 earlier in the day
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Brent crude futures were down 6 cents, or 0.1 percent, at $50.91 a barrel at 0340 GMT, after rising about 1.5 percent in the previous session.
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The market breadth was marginally positive as about 1303 shares advanced against 1133 declining shares on Bombay Stock Exchange.
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As oil markets rebounded from 12-year lows this week, US shale companies - for the first time in months - started inquiring and placing new hedges for the next few years, according to three market sources familiar with money flows.
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US oil futures for March CLH6 surged 13.5 percent on Thursday and Friday, erasing nearly half the losses racked up since the start of the year as bearish traders cashed out.
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The January contract for West Texas Intermediate crude sank USD 2.32 to USD 37.65 a barrel on the New York Mercantile Exchange, a drop of 5.8 percent. In late-afternoon trade in London today, Brent North Sea crude also was languishing near 2009 lows.
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The reaction in oil markets to mixed Chinese trade data released earlier Friday was muted, with traders now waiting for a key report on US jobs that are forecast to have risen by a solid 196,000 in December.
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Brent futures held near USD 109 a barrel on Tuesday as forecasts of a third straight drop in weekly US crude inventories raised hopes of a steady revival in demand growth in the world's biggest oil consumer.
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A political crisis in Egypt heralds a new phase of instability in the Middle East that will keep worries about oil supplies from the region intact putting upward pressure on prices, commodities analysts said.
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Brent crude held above USD 107 on Friday, edging lower after a surge of 20% in four weeks prompted some selling as worries about conflict in the Middle East eased slightly.
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US oil edged higher on Wednesday, but remained well short of a near three-month high hit the previous day on a build in crude stocks stocks and worries that Europe may fail to deliver a solution to the sovereign debt crisis.
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US oil will rise to USD 103.39 per barrel over the next four weeks as the bearish impact on prices from a move by the IEA to release oil from stockpiles is expected to be temporary, Reuters market analyst Wang Tao said.
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Brent crude rose to USD 122 a barrel on Wednesday as a rebound in equities and a larger than expected draw on US oil product stocks helped ease fears over eroding demand.
