Moscow/Riyadh/London – The crude oil price has seen a jump after the leading countries of the oil sector, Russia and Saudi Arabia, announced to cut fuel production. On Tuesday, crude oil price crossed the $90 mark per barrel, the highest since November 2022. Analysts have estimated, on the backdrop of this increase, that crude oil […]
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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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Washington – Air India will buy around 220 passenger planes from Boeing Company in the US. The US President stated that this would create as many as one million jobs in the United States. Not even three months have passed, and more information seems to emerge about the benefits to the US due to the […]
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Dubai – Iran’s Revolutionary Guards launched a new crackdown on the busiest sea route for fuel and commercial traffic. The Revolutionary Guards seized an oil tanker travelling through the Strait of Hormuz. This is the second incident that has occurred in this maritime area by Iran in the past week. The US Navy criticized Iran’s […]
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Washington – US Air Force A-10 Warthogs aircraft have left for deployment in the Middle East. The planes are equipped with bunker-buster bombs that destroy mountain or underground bases, according to a leading US newspaper. The reason behind the new deployment is not clear. But Iran seized an oil tanker bound for Houston just two […]
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New Delhi – India’s refined fuel export to European countries has increased to 3,60,000 barrels per day. Due to this, India seems to have overtaken Saudi Arabia, which supplies fuel to European countries. Kepler Data, which records fuel transactions, gave this information. At the same time, ‘Kepler Data’ has also said that Russia’s fuel oil […]
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Dubai: Iran has captured an oil cargo vessel bearing a Red Marshall’s flag from the Gulf of Oman because the captured vessel collided with a patrolling ship of Iran as per the Iranian Navy. There were about 24 Indians on board which was on its way to Houston. The US Navy is accusing Iran of […]
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Moscow – Alexander Novak, Deputy Prime Minister of Russia, has claimed that Russia has completely moved away from the dollar and Euro as a currency to trade oil and are focused on regional currencies. He said Russia had traded oil with China in exchange for Yuan and Rubel. The International Energy Agency (IEA) recently declared […]
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Moscow – Central Russian President Vladimir Putin and Saudi Crown Prince Mohammed bin Salman had a phone conversation on Friday to discuss the OPEC Plus decision to cut oil production, informs the Kremlin. Last month, Russia and Saudi Arabia led the meeting in which the OPEC Plus announced a cut in oil production. The Western […]
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