U.S. President Donald Trump on Saturday said India will buy Venezuelan oil, helping to replace some of the Russian oil that the world's third-biggest oil importer buys. "We've already made that deal, the concept of the deal," Trump told reporters aboard Air Force One as he traveled to his vacation home in Florida from Washington. Reuters reported on Friday that the United States has told Delhi it could soon resume purchases of Venezuelan oil to help replace imports of Russian oil, citing [Read more]

Dmitry Medvedev, deputy chairman of Russia's powerful Security Council, said that Russia will "soon" win military victory in the Ukraine war but the key thing was to prevent any further conflict. "Soon," Medvedev, who served as Russian president from 2008 to 2012, said, when asked by the WarGonzo Russian war blogger in an interview when Russia would win the war. "I would like this to happen as soon as possible." "But it is equally important to think about what will happen next. After all, [Read more]

United Steelworkers members at BP's 440,000-barrel-per-day refinery in Whiting, Indiana, rejected the company's offer to extend their contract by 28 days at the largest refinery in the U.S. Midwest, the company said in a statement on Saturday. United Steelworkers Local 7-1, which represents around 800 workers at Whiting, said on Friday in a statement to members on its website that the two sides remain apart, but workers should report to work as scheduled to ensure the facility's safe [Read more]

Cubans from all walks of life are hunkering into survival mode, navigating lengthening blackouts and soaring prices for food, fuel and transport as the U.S. threatens a stranglehold on the communist-run nation. Reuters interviewed over three dozen residents of towns and neighborhoods around the capital Havana – the country's political and economic engine - from street vendors to private sector workers, taxi drivers and state employees. Together, those discussions paint a picture of a people [Read more]

U.S. crude output is expected to be down 379,000 barrels per day in the lower 48 states for the month of January, according to consultancy Rystad, as operators kept restoring production after a winter storm knocked off up to 2 million bpd of output last weekend. U.S. crude output from the lower 48 states was forecast to total 11.24 million bpd in January, the Energy Information Administration said this month, putting current outages at around 3.4% of output. The Permian Basin in Texas and New [Read more]

The United States, which imposed tariffs on India last year for buying Venezuelan oil, has told Delhi it can resume those purchases soon to help replace imports of Russian oil, three sources familiar with the matter told Reuters. India pledged to slash Russian crude oil purchases after Washington also hiked tariffs related to that activity, and India is on track to lower its Russian oil imports by several hundred thousand barrels per day in the coming months, according to the sources, who [Read more]

All of North Dakota's crude production was back online on Friday, state regulators said, after recovering from an arctic blast from a winter storm that has disrupted production nationwide. North Dakota is the third-largest oil-producing U.S. state, and output totaled 1.189 million barrels per day in November, the latest monthly data from the state's Industrial Commission showed. Nationwide as of Thursday, crude production outages totaled 500,000 bpd, down 100,000 bpd from Wednesday. Outages [Read more]