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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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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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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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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The waning American crude oil reserves, the wild fires in Canada and the dip in the African fuel output have together caused the oil price to soar to $50 a barrel for the first time this year. It was only a few days back that Goldman Sachs, an international investment firm, predicted 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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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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Moscow/ Paris – Despite the Western sanction on oil due to the Ukraine war, Russia has managed to keep up with its oil exports. New report by the International Energy Agency (IEA) indicates that Russian exports have been about 8.1 million barrels per day in March, the highest in the last three years, earning a […]
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Moscow – Russia and Iran, both targeted by the US and European allies, have found an alternative to trade oil. Russia has supplied 30 thousand tons of refined fuel by rail to Iran. The fuel trade between Russia and Iran will increase in the coming years. Last year, Deputy Prime Minister of Russia Alexander Novak […]
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Tokyo/ Moscow – Group of 7 developed countries, known as the G7, has supported and aided Ukraine in ongoing Russia- Ukraine conflict. They imposed heavy sanctions on Russia and its oil exports to weaken the Russian economy. One of the decisions was to impose a price cap on oil purchase. However, Japan, one of the […]
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