Texas: The oil demand in the international market will increase in the next six months and so will the oil rates. Goldman Sachs, the renowned international financial institution from the United States, claimed that these rates would reach $80 per barrel levels. A few days ago, Goldman Sachs had claimed that Copper would become the […]
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Washington: – The Advisor to the Saudi Royal family claimed, ‘Missile and drone attacks were carried out on the fuel project in far eastern Saudi Arabia. The evidence regarding this is pointing to Iran as the perpetrator of the attacks.’ He made this accusation during an interview with a US newspaper. The Sunday attack has […]
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Vienna: – It was decided in the meeting of OPEC, the organisation of oil-producing countries, that the oil production should be maintained at the current levels. But Saudi created a sensation with an announcement that it will be cutting down its oil production by 1 million barrels. This Saudi decision comes as a jolt to […]
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New Delhi: The Union Government has permitted Abu Dhabi National Oil Company (ADNOC) to export the crude oil stored in the Mangaluru Strategic Oil Reserves. The government has made the policy flexible for the purpose. Although the first right on the oil will be of India in an emergency, ADNOC will be allowed to export […]
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New Delhi: – India has fully exploited the fall in the oil prices in the international market. The Indian oil companies have filled up their storages completely. Dharmendra Pradhan, Minister of Petroleum, has informed that the oil has been stored in the storage tanks, pipelines and even in oil tankers. Pradhan said that the quantity […]
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Tehran/Washington: US President Donald Trump has issued direct orders to the US navy to destroy all the Iranian patrol vessels in the Persian Gulf, if they cause any nuisance to the US warships, sailing in the Persian Gulf. Infuriated by this warning, Iran has threatened to sink the US warships. Meanwhile, the crude oil rates […]
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New York: Oil rates in the international market have plummeted to $27 per barrel. The oil-producing countries have taken a major hit, as the rates have gone to the lowest level since 2003. Coronavirus has brought the global economy to a standstill and there is no possibility of the oil demand increasing in the near […]
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New Delhi: The crude oil rates are crashing in the international markets. The crude oil rates have plummeted by nearly 40% in the last week, resulting in a slide of USD 30 per barrel. As per experts, the sliding oil prices in the international markets become an opportunity for a country like India, who imports […]
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New Delhi: The worldwide demand for oil has drastically reduced since the Coronavirus went on a rampage around the world. This has pulled the oil rates down. Countries like India, who import 80% of its oil requirement, can benefit in a big way because of this. Media are claiming that the dispute between OPEK countries […]
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Vienna: The agreement between OPEC, the main organisation of the oil-producing countries, and Russia, regarding oil production cut, has fallen through. This caused the international oil rates to tumble and they slid to below $47 per barrel level. A leading analyst and advisory company, from the oil sector, warned that if OPEC members do not […]
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