U.S. Crude Oil Supplies, Renewed Venezuela Sanctions: Your Daily Energy News

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News highlights gathered by Industrial Info and IIR Energy (Sugar Land, Texas) dealing with the energy markets.

CRUDE OIL
Officials: U.S. to Reimpose Oil Sanctions on Venezuela - The U.S. will not renew a license set to expire on Thursday that had broadly eased Venezuela oil sanctions, moving to reimpose punitive measures in response to President Nicolas Maduro's failure to meet certain election commitments, senior U.S. officials said. Just hours before the deadline, the U.S. Treasury Department announced on its website that it had issued a replacement license giving companies 45 days to "wind down" their business and transactions in the OPEC country's oil and gas sector. (Reuters)

India's Crude Oil Imports Hold Steady with Reduced Spending - India imported 232.5 million metric tons (MMT) of crude oil in the 2023-24 financial year, compared with 232.7 MMT the prior fiscal year, provisional government data showed on Wednesday. The world's third-biggest oil importer and consumer spent US$132.4 billion importing oil in fiscal year 2023-24, nearly 16% lower than the US$157.5 billion spent in the year prior. (Reuters)

U.S. Crude Oil Stocks Increase, Fuels Decline - U.S. crude oil inventories increased 2.735 million barrels for the week ending April 12, according to the U.S. Energy Information Administration (EIA). Gasoline inventories fell 1.154mn barrels last week, with a 2.76 million-barrel decrease in distillates. (EIA)

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About Industrial Info
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 trillion (USD).