Crude oil rates will zoom to $300 per barrel if there is opposition to the OPEC-Russia front; claims Saudi study group

Crude oil rates will zoom to $300 per barrel if there is opposition to the OPEC-Russia front; claims Saudi study group

Riyadh: A study group from Saudi had warned ‘Our analysis shows that back in 2011-2012 when Libya experienced supply disruptions, prices for crude could go to sky-rocket. The same can be repeated in the future. If it were not for the decisions made by Russia and Saudi Arabia as part of OPEC+ cooperation, in 2018, […]

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Crude oil rates jump after consensus between Russia and Saudi, crosses $ 60 per barrel mark

Crude oil rates jump after consensus between Russia and Saudi, crosses $ 60 per barrel mark

Moscow/Riyadh: Russian President Vladimir Putin and Saudi Arabian Crown Prince Mohammed Bin Salman have reached a consensus about continuing the cooperation in reducing the levels of oil production during their discussions. In line with this, an announcement of reduction in oil production is expected from both the countries. Riding on the news of consensus between […]

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Sanctions against Iran & trade war could trigger a surge in crude oil prices up to $120, claim analysts

Sanctions against Iran & trade war could trigger a surge in crude oil prices up to $120, claim analysts

Washington: The experts and analysts in the oil sector have claimed that crude oil rates could rise up to $120 due to the sanctions imposed by the United States on Iran and the trade war in the global economy. The oil supply from Iran has declined since the European and Asian countries have taken steps […]

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Venezuela’s economic crisis & Iran’s Nuclear Program, lead to surge in crude oil prices to $75 per barrel

Venezuela’s economic crisis & Iran’s Nuclear Program, lead to surge in crude oil prices to $75 per barrel

London/Washington/Tehran: The crude oil prices have once again surged against the backdrop of US President, Donald Trump’s deadline to withdraw from the Iran Nuclear Deal and the Venezuelan economic crisis. On Monday, the crude oil prices in the global markets rose to $75 making it the first time since Nov 2014 to hit its highest […]

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US intensifies Trade war against OPEC & Russia; US crude oil exports to Europe hits record levels

US intensifies Trade war against OPEC & Russia; US crude oil exports to Europe hits record levels

Washington: The United States seems to have reaped the benefits of the agreement signed between the main organisation of oil-producing countries, OPEC and Russia for raising oil prices. Russia and OPEC had signed an agreement to reduce oil production with the objective of creating a hike in oil prices. The United States has taken advantage […]

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Saudi plan to take crude oil to $100 after attaining a high rise in the fuel prices within three and a half years.

Saudi plan to take crude oil to $100 after attaining a high rise in the fuel prices within three and a half years.

Riyadh/Moscow: The crude oil prices jumped by about 2% and surpassed the mark of $74 per Barrel. This was the highest rise in the last three and a half years. The reason attributed to this rise is the tension in the Gulf and regression in the United States oil reserves. In this scenario of escalating […]

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Crude oil price shoots up again; US crude rates cross $50/barrel

Crude oil price shoots up again; US crude rates cross $50/barrel

London / New York (News agency): The price of oil has bounced up again attributing to factors like recently held unsuccessful meeting of ‘OPEC’, Nigerian oil pipeline attacks and uncertainty in decision of the Federal Reserve. Brent crude oil as well as US crude oil rates have crossed $50/barrel again. These rates are the highest in […]

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Israel will face strong retaliation if it stops Iranian crude movements; warns Defence Minister of Iran

Israel will face strong retaliation if it stops Iranian crude movements; warns Defence Minister of Iran

Tehran: The Iranian Defence Minister Brigadier General, Amir Hatami threatened, ‘If Israel takes action on the Iranian oil movement, it will be termed as theft of oil and this theft will be dealt by Iran with very harsh retaliation.’ Last week, Israeli Prime Minister Benjamin Netanyahu had announced that Iran is involved in oil smuggling […]

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