Tehran: Iran, terrified with the threat of new sanctions by the United States, has indicated that it will accept Gold for Oil deals with the African countries, in an effort to save the Iranian economy. As per the information given by Hassan Khosrojerdi, who is associated with the Rouhani government, Iran is preparing to make […]
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Riyadh/London: The oil shipments are being affected by the Houthi conflict in Saudi Arabia and Yemen. The Houthi rebels attacked a Saudi Arabian oil tanker passing through the Bab Al Mandab Strait. Cautioned by this attack, Saudi has stopped the oil shipments to Europe passing through this marine sector. This has had its effect on […]
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New Delhi: When the crude oil prices crossed the $70 per barrel mark, financial experts raised an alarm saying that the ‘festive season’ for the Indian economy has now come to an end. After the oil producing countries decided to reduce crude oil production, crude oil prices began rising and reached an all-time high of […]
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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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Washington : US President Donald Trump has given indications that the emergency oil stockpile, kept for a propective disaster should be put up for sale. This proposal has been worked out to reduce the burden of indebtedness on the US economy. As per a statement from the White House on Monday, reserves till 2018 could […]
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Doha: Saudi Arabian Oil Minister Prince Abdulaziz bin Salman has warned that the decision to be made at next month’s OPEC Plus meeting could be painful for short sellers in the market. Earlier, he also reminded that the decision OPEC Plus took in April was also a shock to the speculators in the market. Due […]
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Washington/Moscow: ‘I don’t think anyone likes it. We don’t know how far it will go. Today, it’s Russia. But tomorrow, that can change, and it could be a global price cap. That would be extremely serious,’ warned Oman’s Minister of Fuel, Salim Al-Aufi. Oman is a leading country in OPEC, an organisation of fuel-producing countries, […]
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Washington: The US National Security Advisor, Jake Sullivan, has threatened to review their ties with Saudi Arabia due to the decision to cut fuel production. Also, the US is attempting to isolate Saudi Arabia by denying a meeting of US president Joe Biden with Saudi Crown Prince Mohammed bin Salman at the upcoming G20 meeting. […]
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New Delhi: The central government is making special efforts to ensure that international transactions happen in Indian Rupee (INR). Union Finance Minister Nirmala Sitharaman has said that Reserve Bank has taken necessary steps in this regard. Moreover, Sitharaman gave this information in a written reply to a question asked in the Lok Sabha. Last month, […]
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New Delhi: Indian Rupee continues to depreciate, causing a significant concern for the government. The Rupee sliding to 79.11 against 1 US Dollar has triggered worried reactions from various sections of society. On Friday, the Rupee gained 12 paise to close at 78.94. Union Finance Minister Nirmala Sitharaman said that she would be in discussion with […]
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