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

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.

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Article Details

Category: BusinessFinance

Markets: IndiaBrazilCanadaChinaGuyanaIsraelUnited States

Topics: Oilfield Amendment Bill US crude production Petroleum and Natural Gas Minister Hardeep Singh Puri

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-14 @ 19:20:21 (1 weeks ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 709 words

Reading Time: 4 minutes read

Sentences: 22 lines

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Copyright Owner: © Business Standard

News ID: 23586234

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