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Oil Imports

All articles tagged with #oil imports

world15 days ago•2 min saved

Cuba’s fuel drought sparks deepening blackouts amid US blockade

Cuba says it has run out of diesel and fuel oil, pushing the national grid into a critical state and triggering severe blackouts in Havana as the US blockade hinders fuel imports. The energy minister says the country has no reserves and must rely on domestic crude, natural gas and renewables, with solar capacity limited by grid instability. Cuba is seeking fuel from abroad despite global price pressures; Mexico and Venezuela have not supplied fuel since early 2026, and only one large tanker, the Anatoly Kolodkin, has delivered crude since December. The UN has condemned the blockade as unlawful, citing harm to Cubans’ access to development, health, and basic services.

via The Guardian|

#blackouts #cuba #diesel-shortage

energy25 days ago•7 min saved

California Braces for Supply Gap as Gulf Crude Reaches Long Beach

California’s last Persian Gulf crude cargo has landed in Long Beach, highlighting the state’s growing reliance on foreign oil as it faces the potential loss of about 200,000 barrels per day if the Strait of Hormuz remains blocked; with aging fields and constrained refinery capacity, California may need to source crude from Canada, Brazil, Ecuador and other regions, while inventories and state planning cushion near-term risk and analysts warn prices could rise without stronger demand-side relief.

via Los Angeles Times|

#california #energy #gasoline-prices

business1 month ago•4 min saved

Gas Prices Rise Because Oil Is a Global Commodity

The article argues that U.S. gas prices rise even with domestic oil output because about 40% of crude reaching U.S. refineries is imported, and oil markets are globally interconnected. Prices are set by global traders, and crises—such as Middle East conflicts or supply chokepoints like the Strait of Hormuz—send prices higher worldwide. Domestic refineries often rely on heavy crude that’s cheaper to import, and transport costs plus regional supply dynamics can keep prices elevated. The so‑called Rockets and Feathers effect means prices jump quickly on crisis news but fall slowly as demand remains high and retailers don’t rapidly slash prices.

via Jalopnik|

#business #gas-prices #global-market

world3 months ago•5 min saved

Cuba on the brink as U.S. pressure signals a coming blockade

Washington’s move to tariff oil to Cuba and hints of a blockade, combined with Mexico halting shipments and dwindling reserves, could leave Cuba short of fuel within weeks, risking deeper blackouts, disrupted transport and a worsening economy for ordinary Cubans.

via The Guardian|

#blockade #cuba #fuel-shortage

business6 months ago•2 min saved

US Sanctions Force Russian Oil Giants to Rethink Global Strategies

Following US sanctions on Russian oil companies, Chinese refiners like Sinopec and PetroChina are reducing their purchases of Russian crude, affecting about 45% of China's Russian oil imports, as other countries also begin to shun Russian oil due to Western sanctions.

via The Kyiv Independent|

#business #chinese-refiners #energy-market

business6 months ago•3 min saved

Russia's Oil Exports Decline Amid Sanctions and Geopolitical Tensions

Chinese oil refiners are increasingly shunning Russian oil shipments, especially the ESPO grade, due to US and allied sanctions targeting Russian producers and customers, leading to a significant drop in Russian oil imports by China and impacting global supply dynamics.

via Bloomberg.com|

#business #china #espo-grade

world7 months ago•3 min saved

India's Russian Oil Imports: Balancing US Pressure and Economic Needs

India has denied US President Trump's claim that it agreed to stop buying Russian oil, highlighting ongoing tensions and the country's reliance on Russian energy, despite US sanctions and diplomatic pressures.

via CNN|

#energy-policy #india #oil-imports

world7 months ago•3 min saved

US Imposes Sanctions on Iran Oil Trade and Supporting Entities

The US has imposed sanctions on an Iranian oil terminal in Shandong, China, which handles a significant portion of Sinopec's crude imports, complicating China's oil trade and prompting potential rerouting of shipments to alternative ports.

via Reuters|

#iranian-oil #oil-imports #rizhao-shihua-terminal

world8 months ago•5 min saved

India Continues Russian Oil Imports Amid U.S. Sanctions and Black Market Activity

The US is a major importer of Indian oil products, many of which are made from Russian crude, despite US sanctions and tariffs aimed at Russia. India sources nearly half of its crude from Russia, and US imports of Indian oil products totaled around $1.4 billion in early 2023. US tariffs on Indian goods have doubled to 50%, partly as a response to India's purchase of Russian oil, which complicates US-India relations amid broader geopolitical tensions.

via NPR|

#india #oil-imports #russian-oil

world9 months ago•4 min saved

India's Russian Oil Imports to Rise in September Despite US Pressure

India is set to increase its Russian oil imports by 10-20% in September despite US tariffs aimed at discouraging such trade, as India continues to benefit from discounted Russian crude amidst ongoing geopolitical tensions and sanctions. The move highlights India's strategic economic and diplomatic balancing act, maintaining significant oil supplies from Russia while facing US criticism and tariffs.

via Reuters|

#india #oil-imports #russian-oil

world9 months ago•3 min saved

India-Russia-China Talks and US Tensions Over Russian Oil

Russia plans to continue supplying oil to India despite US warnings and tariffs, emphasizing the profitability and special mechanisms for Indian buyers. Russia also seeks to expand LNG exports and nuclear cooperation with India, while fostering trilateral talks with China to strengthen a greater Eurasian partnership, with high-level meetings expected later this year.

via Reuters|

#eurasian-partnership #india #oil-imports

world9 months ago•2 min saved

India Maintains Russian Oil Imports Despite Global and Political Pressures

India is reducing its Russian oil imports and shifting to suppliers like the US, Brazil, and Middle Eastern countries ahead of a high-level Alaska meeting between Trump and Putin, amid U.S. sanctions and tariffs on India for buying Russian energy.

via The Kyiv Independent|

#india #oil-imports #putin

business9 months ago•3 min saved

India's Oil Strategy Amid US Pressure and Global Tensions

India's state-owned oil refiners are temporarily halting Russian crude purchases due to increased US pressure and tariffs, with plans to await government guidance, potentially shifting to Middle Eastern and other sources to meet demand, amid geopolitical tensions and market adjustments.

via Bloomberg.com|

#business #india #oil-imports

world9 months ago•1 min saved

Tensions Rise as Modi and Trump Clash Over Russia and Trade Policies

Donald Trump criticized India on social media for its oil purchases from Russia, threatening higher tariffs amid strained relations with Prime Minister Narendra Modi, as Russia's role in India's oil supply has increased significantly since the Ukraine conflict.

via The Economist|

#donald-trump #india #narendra-modi

world9 months ago•2 min saved

India Continues Russian Oil Purchases Despite US and Trump Pressure

India has not received official instructions to cease buying Russian oil, despite US pressure and threats of sanctions, and continues to purchase Russian crude based on market decisions, with scenario planning underway in case of a halt.

via Bloomberg.com|

#energy-policy #india #oil-imports