Monday, August 18, 2025
Oil slips as producer cuts fail to banish demand fears- oil and gas 360

Oil slips as producer cuts fail to banish demand fears

CNBC Oil prices edged lower on Tuesday, with investors apparently unconvinced that record supply cuts could soon balance markets pummeled by the coronavirus pandemic, though a predicted plunge in U.S. shale output provided some support. Brent futures fell 52 cents, or 1.6%, to $31.12 per barrel after settling up 0.8% on Monday. U.S. West Texas Intermediate crude was down $1.06, or 4.7%, to trade at

India plans to fill strategic oil storage by the third week of May- oil and gas 360

India plans to fill strategic oil storage by the third week of May

Reuters NEW DELHI – India plans to completely fill its strategic petroleum reserve (SPR) by the third week of May by moving about 19 million barrels into the sites by then, the managing director of the country’s SPR said on Tuesday. India is moving the oil to the SPR to help the country’s refineries reduce their excess crude as the