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 […]
Washington: On May 12, four vessels near the coast of the UAE were subjected to sabotage attack. US State Secretary Mike Pompeo blamed Iran for attacks in the Gulf, saying it was an effort by Tehran to raise the global price of oil as it is reeling under the economic crisis. Pompeo claimed Iran to […]
Riyadh/Moscow: Saudi Arabia and Russia have rejected the demand by US President Donald Trump to increase the oil production. There are indications of tension rising between the United States and Russia-Saudi over the oil issue. Trump had demanded that the OPEC countries should increase the oil production in view of the increasing fuel prices. But […]
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 […]
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 […]
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 […]
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 […]
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 […]
Dubai/ Washington – Saudi Arabia and OPEC Plus member countries gave a strong blow to the US on Sunday. From May 1, Saudi Arabia and OPEC plus countries announced a reduction in fuel production of 11 lakhs and 50,000 barrels per day. This has resulted in the American fuel market and crude oil prices have […]
Washington/ Moscow: Last week, Russia announced that it would cut its fuel production in response to sanctions imposed by the West. Russian Deputy Prime Minister Alexander Novak informed that Russia may reduce its crude oil production by 500,000 barrels per day from March. Due to this decision of Russia, the price of fuel oil may […]