Together, the four sanctioned firms accounted for more than 80% of India’s Russian oil imports in 2024,

Hungary depends on Moscow for the bulk of its oil and gas imports. Unlike many of its European Union neighbors, which have worked to cut reliance on Russian energy following Moscow’s full-scale invasion of Ukraine in 2022, Hungary has since ramped up its purchases.

Speaking to journalists, Putin said he "hoped" the latest US sanctions on Russia's oil sector -- targeting Rosneft and Lukoil directly -- wouldn't unduly impact the market, but warned removing Russian oil was likely to push up prices, saying he had "discussed this with my American colleagues."

Our country ships significant amounts of petroleum and refined products to the republic, almost fully meeting the energy needs of Tajikistan’s economy. Energy supplies are exempt from export customs duties.

Brent rose 22 cents, or 0.4%, to $63.54 a barrel , WTI was at $59.71 a barrel, up 22 cents, or 0.4%.

Brent rose 22 cents, or 0.4%, to $63.54 a barrel , WTI was at $59.71 a barrel, up 22 cents, or 0.4%.

The overall impact on China’s crude demand should be short-lived as traders re-route cargoes to other ports, Energy Aspects said.

The EIA said in a statement that it expects oil production growth to be led by countries outside of OPEC+. Production in South America has been the leading source of growth as new offshore vessels have started up ahead of schedule in Brazil and Guyana this year, the outlook said.

The Organization of the Petroleum Exporting Countries and its allies, led by Russia, a group known as OPEC+, have been unwinding previously agreed oil production cuts to regain market share from rivals such as U.S. shale producers.

In view of a steady global economic outlook and current healthy market fundamentals, as reflected in the low oil inventories, the eight participating countries decided to implement a production adjustment of 137 thousand barrels per day from the 1.65 million barrels per day additional voluntary adjustments announced in April 2023.