Oil prices surge by 2% following attack on Saudi oil tankers

Oil prices surge by 2% following attack on Saudi oil tankers

Tokyo: Repercussions of the saboteur attacks on the Saudi tankers have been felt in the international crude oil market as well. On Monday, the oil market opened with a rise of 2% in the crude oil rates. The US media stated that the spike was attributed to the uncertainty created over future oil exports owing […]

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Saudi Arabia will increase its oil production by 2 million barrels to reduce oil prices, claims President Trump

Saudi Arabia will increase its oil production by 2 million barrels to reduce oil prices, claims President Trump

Washington/Riyadh: President Trump made a sensational claim that the Saudi Arabian ‘King Salman’ has expressed willingness to increase the crude oil production by 2 million barrels. Although, Saudi has accepted the report about a discussion between the US President and King Salman, it has refused to comment on the matter of any such firm commitment […]

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Electric Car revolution could slump oil prices to 10 dollars, warns a British analyst

Electric Car revolution could slump oil prices to 10 dollars, warns a British analyst

Landon: Chris Watling, a British analyst, warned about the drop oil prices to 10 dollars per barrel in next few years. He said that, “Development in electric cars will cause significant events around the world. As 70 percent of all the crude oil produced is used for transportation. We cannot forget that approximately 120 years ago the world was not […]

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Oil prices rise with indications of Russia-Saudi Arabia talks

Oil prices rise with indications of Russia-Saudi Arabia talks

Riyadh/Moscow : In the light of the statements issued by Russia and Saudi Arabia, the  world’s biggest oil producers , the prices of crude oil have soared. For the very first time after almost three weeks the rates of crude oil have touched $45 per barrel. On Monday, prices of crude oil were noted at $45.13 […]

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US will dominate the oil sector and continue to do so despite upheaval of prices in the sector, claims US Deputy Secretary for energy

US will dominate the oil sector and continue to do so despite upheaval of prices in the sector, claims US Deputy Secretary for energy

Washington: US Deputy Secretary of energy, Dan Brouillette claimed that the United States would be dominating the international energy sector. He said that US President Donald Trump has drafted the oil policy with a view that the United States will lead the Oil sector. President Trump’s persistent stand is that the United States has to […]

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