Crude Oil

Tariff Impact: Venezuela’s Crude Oil and Fuel Exports Dropped in March

The secondary tariffs as well as license cancellations had badly impacted shipments from that country.

Janaf Gets U.S. Approval to Supply Oil to Serbia's NIS Until April 28

The restrictions were initially set to take effect on February 27 but were later delayed until March 28.

Exxon Signals Higher Oil, Gas Prices will Help Boost Q1 Profit

The Organization of the Petroleum Exporting Countries also said in March it would begin increasing oil output for the first time since 2022.

US Treasury Chief Met with Banks on Sanctions Policy on Iran

The U.S. has slapped sanctions on tankers carrying Iranian oil and on a Chinese "teapot" refinery for processing the oil.

Canada's Trans Mountain Pipeline Lowers Forecasts for Amount of Oil it Ships

The new forecasts are for the pipeline to be 84% full this year, 88% full in 2026 and 92% full in 2027.

Hungary Could Meet Serbia's Oil Needs with New Pipeline from 2028

The two countries agreed in 2022 to build a pipeline to supply Serbia with Russian Urals crude coming via the Soviet-era Druzhba oil pipeline.

Uganda Signed Landmark Agreement to Launch Hoima Crude Oil Refinery

The proximity of the Hoima site to major oil reserves will simplify crude supply logistics.

Venezuela's Oil Exports Fall 11.5% Over US Tariffs and Sanctions

China was again the largest receiver of Venezuelan crude in March with 483,700 bpd, followed by the U.S. with 210,700 bpd, India with 60,160 bpd and Cuba with 50,130 bpd.

OPEC+ Meeting Likely to Approve Further Oil Production Increase in May

A few members had been pumping oil above their assigned quotas, and adjustments are now being considered to rectify the imbalance.

Equinor’s Johan Castberg Oilfield Begins Production

The drilling operations are expected to continue towards late 2026.

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Crude Oil Prices

Alabama Heavy Asphaltic Sour		55.29
Alabama Light Sour		61.43
Alabama Light Sour Womack Hill Type		55.28
Alabama Light Sweet		66.43
Alabama/ Florida Panhandle		64.72

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