Crude Oil News

While Chevron later struck deals to continue operating in the country, ConocoPhillips and Exxon exited and pursued arbitration.

The company was part of the group of companies which discovered oil in Kirkuk during the 1920s.

For the full year 2025, Shell posted lower-than-expected adjusted earnings of $18.5 billion, compared with an annual profit of $23.72 billion in the previous year.

India will cut Russian imports in April when one of its top refiners, Russian-backed Nayara, carries out a one-month maintenance at its 400,000 bpd plant, a trader in Russian oil said.

While the planned talks are reducing the recent risk premium in prices, the market was supported on Wednesday by data showing declines in oil inventories in the U.S., the world's biggest crude producer and consumer.

The deal also reinforces Trafigura’s growing role in supplying energy resources to India.

The agency did not identify the origin of the oil or the tankers.

The U.S. military on Tuesday shot down an Iranian drone that "aggressively" approached the Abraham Lincoln aircraft carrier in the Arabian Sea, the U.S. military said, in an incident first reported by Reuters.

Moody’s noted that a sudden reduction in Russian oil purchases by India could tighten global supply and push benchmark oil prices higher.

Neither Marathon nor the USW spokespeople immediately replied to requests for comment on Monday.