Kuala Lumpur: Nearly 500 million people worldwide are expected to move to cities over the next seven years due to the growth of the global economy. Due to this, the fuel requirement will increase more. The demand for essential crude oil will rise to 110 million barrels per day in the next decades, claimed the […]
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Vienna – OPEC Plus’ (Organisation of the Petroleum Exporting Countries) decision to maintain the cut in fuel production till the end of 2024 will create an imbalance in the market. This could surge fuel rates at the international level, warned a senior Japanese official. Rystad Energy, a leading consultancy company in the fuel sector, has […]
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Doha: Saudi Arabian Oil Minister Prince Abdulaziz bin Salman has warned that the decision to be made at next month’s OPEC Plus meeting could be painful for short sellers in the market. Earlier, he also reminded that the decision OPEC Plus took in April was also a shock to the speculators in the market. Due […]
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Dubai/ Washington – Saudi Arabia and OPEC Plus member countries gave a strong blow to the US on Sunday. From May 1, Saudi Arabia and OPEC plus countries announced a reduction in fuel production of 11 lakhs and 50,000 barrels per day. This has resulted in the American fuel market and crude oil prices have […]
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Washington/Moscow/Vienna: Western countries have approved a proposal to keep the price of crude oil exported from Russia at 60 dollars per barrel. G7, European Union and Australia announced this on Friday. US Treasury Secretary Janet Yellen responded that this decision would cut off the flow of funds to Russian President Vladimir Putin’s conflict in Ukraine. […]
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Doha/Beijing: – US defence headquarters, Pentagon, has threatened the Middle Eastern countries that if they establish cooperation with China, it will threaten the security of the United States. However, a few days after this, China and Qatar signed a major gas supply agreement. Qatar’s fuel minister announced that Qatar Energy would supply gas to China […]
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Washington: The US National Security Advisor, Jake Sullivan, has threatened to review their ties with Saudi Arabia due to the decision to cut fuel production. Also, the US is attempting to isolate Saudi Arabia by denying a meeting of US president Joe Biden with Saudi Crown Prince Mohammed bin Salman at the upcoming G20 meeting. […]
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Riyadh: Saudi Arabia has said that the decision to cut fuel production has not been taken by a single member country of OPEC Plus. This decision was taken unanimously to remove the instability in the fuel market in consideration of the interests of OPEC Plus member countries. No other country can decide the economic interests […]
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Washington: Last week, OPEC plus, a group comprising the world’s leading fuel-producing countries, decided to cut daily crude oil production by two million barrels. This has evoked a strong reaction from the US. The US Treasury Secretary Janet Yellen criticised OPEC’s decision as wrong and inappropriate. Besides, members of Congress from the ruling Democratic Party […]
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Washington: OPEC Plus countries have decided to cut crude oil production by 2 million barrels per day to stop the crashing fuel prices in the international market. This is likely to push fuel prices to $110 per barrel. The United States has reacted strongly to this decision taken on the initiative of Saudi Arabia and […]
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