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India’s Oil Imports From Russia Rebound After Initial Sanctions Chaos

OilPrice

Indian imports of crude oil from Russia appear to be rebounding in March following lower purchases earlier this year in the immediate aftermath of the January U.S. sanctions on Russias oil trade.

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Sinopec Books Lower Profit for 2024 on Oil Price Slide

OilPrice

Chinas state oil major Sinopec reported a net profit of almost $7 billion for 2024, which represented a 16.8% decline on the year, attributed to lower oil prices and electric cars. In 2024, international crude oil prices fluctuated downward, the domestic transportation industry accelerated the replacement of new energy.

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India’s Oil Imports From Russia on Track for 10-Month High

OilPrice

million barrels per day (bpd) of crude oil from Russia in May, which would be a 10-month high, according to vessel-tracking data by Kpler. The strong Indian imports of ESPO crude are set to continue in June and July as refiners have booked more than 10 cargoes of the grade loading in June, traders told Reuters.

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Saudi Arabia’s Budget Deficit Surged Before the Oil Price Crash

OilPrice

The recent oil price crash will surely hit Saudi Arabias state finances going forward, but the Kingdom already booked a hefty budget deficit for the first quarter, before oil prices dropped dramatically. During the first quarter of the year, the budget deficit of the worlds top crude oil exporter swelled to $15.6

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April price crash dragged Saudi Arabia’s oil revenues to 4-year low

Oil & Gas 360º

(Oil Price) – Saudi Arabia’s revenues from oil exports crashed in April by 21% from a year earlier – to the lowest level in nearly four years – as international oil prices dipped amid concerns about oversupply and potentially weaker global economic growth. Saudi Arabia’s budget deficit jumped to $15.6 billion (58.7

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Oil Prices Start the Week With a Dip

OilPrice

Crude oil prices started trade with a slide this week, as traders await news about the possibility of an end to the war in the Ukraine, which would likely boost the international supply of Russian crude. At the time of writing, Brent crude was trading at $71.92

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PetroChina Q1 Profit Rises, Bucking the Trend of Chinese Oil Majors

OilPrice

PetroChina, the largest oil and gas producer in China, reported on Tuesday a net profit for the first quarter up by 2.3%, becoming the only state oil giant to book higher Q1 earnings compared to a year earlier. PetroChina booked a net profit of $6.4 The companys average realized price for crude oil was $70.00

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