Washington: President Biden has announced a ban on projects that increase the country’s fuel production, as fuel prices in the United States have reached record levels. Three oil refining contracts between Alaska and the Gulf of Mexico have been cancelled. The American Petroleum Institute is outraged by Biden’s decision. On the one hand, the Biden […]
Read More »
Oslo: Russia is benefitting from the skyrocketing fuel prices in Europe and Asian countries. Rystad Energy, a Europe based thinktank, claimed that the Russian revenue from fuels would cross $180 billion for this year given this. As per the thinktank, the Russian fuel revenues have grown by a whopping 45% as compared to 2021 and […]
Read More »
Washington: – The Biden administration has again indicated the opening of the ‘Strategic Petroleum Reserves’ ban on Russian fuel imports given the Ukraine conflict and rising inflation. An announcement to that effect is expected on Thursday. This is the third time in the last five months that the United States has used the Strategic Petroleum […]
Read More »
Tehran: – The fuel prices have flared up in the international markets given the Russia-Ukraine war and the western countries are appealing to augment fuel production. In this scenario, Iran objected to the agreement signed between Saudi and Kuwait to develop the fuel gas fields in the Persian Gulf. Iran termed the deal as illegal, […]
Read More »
New Delhi: Since the United States imposed harsh sanctions targeting Russian oil exports, Russia has proposed to supply oil at a concessional rate to India as a trusted ally. As the crude prices are inflated in the international markets, it is reported that India is mulling over accepting the offer. Few sources from Indian Oil […]
Read More »
Dubai: – In 2014, the Arab allies’ coalition had started a military conflict against the Houthi rebels in Yemen. At that time, the United States had refused to participate in the war, saying that this was not their war. However, the Russia-Ukraine war has flared up over the last few days. Hence, the fuel rates […]
Read More »
London/New York – The problems faced by the OPEC member countries in oil production and the harsh winter in the United States has caused the crude oil rates to spurt once again. Prices of Brent crude and the US WTI crude have reached $93 per barrel. Analysts have warned that the crude oil rates will […]
Read More »
Dubai/London – The tension increasing between Russia-Ukraine and the Middle East and the central Asian regions has caused the crude oil rates to peak at $90 per barrel. Before this, a rate of $90 per barrel of crude oil was seen in October 2014. As the demand for crude oil has been increasing for the […]
Read More »
Riyadh/Warsaw: – While the fuel prices are increasing on the international level, Saudi has initiated steps to expand its market. Saudi signed three fuel agreements with Poland, one of the leading European countries. Sources indicated that these agreements can increase fuel supply to Poland and central and eastern European countries. Russia is known as the […]
Read More »
Doha – The CEOs of renowned international oil companies have claimed that the crude oil rates would increase to the level of more than USD 100 per barrel. The senior officers said that this rise would be because of the reduced flow of investment in the sector. It is claimed that the oil companies have […]
Read More »
