US crude production to rise, expected to calm global markets: Puri

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US crude production to rise, expected to calm global markets: Puri - Business Standard

Quick Summary:

Notably, the bill introduces the term 'mineral oils' in place of 'oils', bringing a wide range of mineral oils, including shale oil, gas hydrates, and coal bed methane, under its ambit.

The US was the fifth-largest source of crude for India in the first five months of FY25, a position it has maintained since FY23 despite the major discounts received on Russian oil in the past two years.

Data from the US Energy Information Administration shows the country produced above 13 million bpd of crude for seven months from February to August.