- U.S. Energy Secretary Granholm met with top U.S. refiners yesterday to discuss measures for battling rising energy prices (Reuters)
- Granholm reportedly backed off a potential ban on U.S. fuel exports and signaled interest in potentially relaxing smog-reducing gasoline regulations
- Despite agreeing to continue discussions, both parties exited the meeting without reaching a consensus on a long-term solution
- Indian imports of Russian crude increased 50-fold as other nations shun its crude (BBG)
- Since April, oil imports from Russia have made up approximately 10% of India's total purchases, up from a mere 0.2% over the previous 12 months
- Nearly half of the Russian crude exports now travel to Asia, down from two-thirds at the beginning of 2022, according to Gazprom Neft Chief Executive Officer Alexander Dyukov
- EIA’s most closely watched oil data - The U.S. Weekly Petroleum Status Report, won't be released this week as scheduled due to a system issue
- The EIA delayed the release of all reports except for its Weekly Natural Gas Inventory report scheduled for this week due to electricity problems that resulted in an unidentified hardware breakdown
- EIA anticipates providing a status update on pending reports on Monday