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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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: The sanctions imposed by the West on Russia and the reduction in fuel production by the OPEC Plus countries will push fuel prices back above $100 by the end of next year, warned Goldman Sachs, the leading US financial institution. The financial institution claimed that the rising demand for fuel in China would also […]
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Moscow: Russian President Vladimir Putin has warned that attempting to cap Russian fuel prices would seriously affect the international fuel market. G7 and the European Union are moving to restrict the prices of crude oil exported from Russia. According to Western sources, a proposal has been made to keep the price of Russian oil at […]
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Washington/Moscow: The World Bank claimed that the G7 countries alone are incapable of capping the prices of Russian oil and that participation from more countries would be needed. The World Bank report argues that such a mechanism to control oil prices is unprecedented and poses a significant risk. Against the backdrop of the World Bank […]
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Vienna: Crude oil prices have once again gone past $100 per barrel after the Organization of the Petroleum Exporting Countries (OPEC) and other oil-producing countries signalled to cut oil production. This is coupled with looming uncertainty over the Iran nuclear deal. Analysts have warned that if OPEC Plus cuts oil production, the oil prices will […]
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Moscow/London/New York: Intense repercussions of the announcement made by Russian President Vladimir Putin were felt in the international markets. Crude oil rates have crossed $99 per barrel. The crude oil prices have touched this level for the first time since September 2014. Apart from the increase in crude oil prices, stock markets have tumbled in […]
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London/New York: – The crude oil rates spurted above $95 per barrel due to the tensions prevailing between Russia and Ukraine. This is the first instance of the crude oil rates crossing $95 level since October 2014. Against the background of this rise, analysts have predicted that the crude oil rates could scale at $120 […]
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Dubai / London – Crude oil prices have increased due to a drone strike near the United Arab Emirates (UAE) fuel depot. Crude oil prices have jumped above $87 per barrel in the international market, the highest level in seven years. Earlier, in October 2014, crude oil prices were recorded at more than $87 per […]
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Washington / Riyadh – The decision to maintain the fuel supply limit was taken at a recent meeting of the OPEC and OPEC Plus groups of fuel-producing countries. As a result, crude oil prices have continued to rise; they have crossed the $80 per barrel mark in the international market. On Friday, the crude oil […]
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