Russian spokeswoman accuses the US of smuggling crude oil from Syria

Russian spokeswoman accuses the US of smuggling crude oil from Syria

Moscow: Russian foreign ministry spokeswoman, Maria Zakharova levelled a serious allegation, ‘The United States perpetually pats its own back claiming to be a country promoting democratic values and abiding by the international regulations. But this very country is stealing crude oil from Syria, behind the façade of conflict against the terrorist organisation IS.’ The Russian […]

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The US imposes sanctions against Chinese government company buying crude oil from Iran

The US imposes sanctions against Chinese government company buying crude oil from Iran

Washington/Hong Kong: The United imposed sanctions against the Chinese government company for continuing to buy oil from Iran, violating the harsh sanctions imposed against Iran. US Secretary of State, Mike Pompeo, said that sanctions had targeted the Zhuhai Zhenrong Limited and its Chief Executive Officer (CEO) Youmin Li. China has criticised the new US sanctions […]

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Russia and Saudi Arabia agree on reducing crude oil production: President Vladimir Putin

Russia and Saudi Arabia agree on reducing crude oil production: President Vladimir Putin

Moscow: Analysts have indicated a change in equations, in the fuel market, because of the trade war, the supply exceeding the demand situation and tension over the Iran issue. Against this background, Russia and Saudi Arabia have once again concurred on the issue of reducing crude oil production. Both the countries have been willing to […]

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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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