Markets

US crude oil exports to India reached a two-year high in Feb., hitting 357K b/d, as Indian refiners sought alternatives due to recent US sanctions on Russian oil trade.

Kazakhstan's oil production reached a record high of 2.12MM b/d in Feb., a 13% increase from Jan. driven by a significant rise in output at the Tengiz oilfield..

2025-03-08

Analysts and economists predict oil prices will remain subdued in 2025, primarily due to sufficient oil supply and spare capacity within OPEC+.

bp (formerly BP) is undergoing a substantial strategic overhaul, pivoting away from its prior emphasis on rapid renewable energy expansion and refocusing on its core oil and gas operations.

The week of Feb. 24th to 28th proved to be a volatile period for global oil markets, with Brent and West Texas Intermediate (WTI) futures experiencing significant fluctuations.

Trafigura identifies US foreign policy concerning Iran as a significant upward risk for crude prices, particularly amidst a well-supplied market.

Brazil's oil sector faces potential output growth limitations due to temporary drilling suspensions by regulators.

In Feb. 2025, Chevron initiated discussions with the Trump administration regarding its operations in Venezuela, aiming to maintain its presence and continue oil production.

The global oil market has seen volatility in early 2025 due to a mix of geopolitical tensions, economic concerns, and fluctuating supply-demand dynamics.