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Oil finds short-term support as oversupply eases, bearish risks linger
08 Feb 2026 22:37 GMT
… a tighter balance between crude oil production and global demand than previously modeled … .
Meanwhile, OPEC’s daily oil production dropped by 230,000 barrels in January … downward.
US crude oil inventories dropped by 3.5 million barrels last week …
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India Cuts Russian Oil: Could Exxon (XOM) and Chevron (CVX) Gain from Higher U.S. Exports?
08 Feb 2026 22:30 GMT
… Reuters. Indian Oil Corporation (IN:IOC), Bharat Petroleum Corporation Limited … Meanwhile, Indian refiners are already buying more crude from the … change could lift demand for American crude. If India keeps … fall below one million barrels per day by March, …
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Petroleum Industry Act cuts risk premium for African upstream investors – Oando
08 Feb 2026 20:58 GMT
… discipline, and growing energy demand has created fresh momentum.
… to almost 1 billion barrels, a milestone that executives … Minister of State for Petroleum Resources, reinforced the government … pressure to limit fossil fuel investment has constrained …
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Kuwait Petroleum Corporation
08 Feb 2026 18:44 GMT
Kuwait Petroleum Corporation (KPC) said it has … and Renewable Energy and Kuwait Oil Company (KOC), KPC said, … system, allowing for more efficient fuel use, lower operating costs and … would help meet local power demand.
This project aims to enhance …
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India-US trade deal LIVE | Buying oil from US in India's interest, says Goyal; Oppn seeks debate on trade deal
08 Feb 2026 18:19 GMT
… , whether India's petroleum minister is Trump or Hardeep … door to penalizing Indian refined fuels — diesel, jet fuel and other products — … , in addition to oil, LNG, LPG, and crude oil,” Goyal said.
Feb … economy would generate a demand of about USD 2 …
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Iraq joins producers of high-quality petroleum products
08 Feb 2026 18:08 GMT
… capacity of 11,000 barrels per
day.
The … refined oil products to global markets by
2030. Authorities formally halted fuel … , and kerosene.
Iraq, OPEC’s second-largest producer, … demand
for refined oil products.
Read more: Why doesn't Iraq export petroleum …
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Each Minister handles his responsibility, says Piyush Goyal on trade deal, Russian oil
08 Feb 2026 16:08 GMT
… starch, essential oils, ethanol for fuel, and tobacco, among others.
So … economies, so effectively the demand for cotton is going to … and as exports grow, the demand for domestic cotton also grows … For example, energy such as crude oil, LNG, LPG, we have to …
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Nigerian Governors Demand Evidence of Presidential Write-off of NNPC’s Debt
08 Feb 2026 15:40 GMT
… ¹ ².
*Background*
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) had announced … Production Sharing Contracts (PSC), oil royalties, and domestic reconciliation … authorization ⁴ ⁵.
The governors’ demand for evidence underscores the ongoing …
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Five game-changing products from Dangote Refinery set to reshape Nigeria’s economy, energy
08 Feb 2026 14:23 GMT
… petroleum refinery, is more than a solution to Nigeria’s long-standing fuel … import problem.
With a capacity of 650,000 barrels … local demand, domestic production marks a major shift.
Refinery-produced … shows that beyond fuels, Dangote Refinery is a major …
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Kuwait Charts Path To 4 Million Bpd Oil Capacity
08 Feb 2026 13:32 GMT
… to lift crude oil production capacity to 4 million barrels per … Beyond Al-Saif, Kuwait Petroleum Corporation and its subsidiaries are … sustainable production levels. Within OPEC, capacity is a key … target is realised. Global oil demand growth is forecast to …