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 […]
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London: Due to the Russia-Ukraine conflict, the people in the United States and Europe have faced a big crisis of fuel price hikes. Western countries have taken action against sanctions, holding Russia fully responsible for this. However, the major fuel companies in the United States and Europe have benefited the most from the increased fuel […]
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Washington: The sanctions imposed by the West on Russia and the reduction in fuel production by the OPEC Plus countries will push fuel prices back above $100 by the end of next year, warned Goldman Sachs, the leading US financial institution. The financial institution claimed that the rising demand for fuel in China would also […]
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Moscow: While imposing a price cap on Russian crude oil, the Western alliance, along with the European Union, has decided to stop seaborne imports of Russian crude oil. It came to light that Russia has created a ‘shadow fleet’ of more than 100 oil tankers to circumvent these sanctions imposed by the West. Leading UK […]
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Washington/Moscow/Vienna: Western countries have approved a proposal to keep the price of crude oil exported from Russia at 60 dollars per barrel. G7, European Union and Australia announced this on Friday. US Treasury Secretary Janet Yellen responded that this decision would cut off the flow of funds to Russian President Vladimir Putin’s conflict in Ukraine. […]
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Moscow: Russian President Vladimir Putin has warned that attempting to cap Russian fuel prices would seriously affect the international fuel market. G7 and the European Union are moving to restrict the prices of crude oil exported from Russia. According to Western sources, a proposal has been made to keep the price of Russian oil at […]
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Washington: US President Joe Biden has threatened that Saudi Arabia and other OPEC-plus member countries will suffer the enormous consequences of Saudi Arabia’s decision to cut global fuel production along with Russia. The United States is giving indications that this threat is not empty. The White House informed that the Biden administration is reconsidering the […]
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Washington: Last week, OPEC plus, a group comprising the world’s leading fuel-producing countries, decided to cut daily crude oil production by two million barrels. This has evoked a strong reaction from the US. The US Treasury Secretary Janet Yellen criticised OPEC’s decision as wrong and inappropriate. Besides, members of Congress from the ruling Democratic Party […]
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Washington/ Vienna: A meeting of OPEC, the leading organization of fuel-producing countries, and OPEC Plus, which includes other producing countries, was held on Wednesday. Given the signs of global recession and other factors, a decision may have been taken to cut fuel production in this meeting. However, the United States has started strong efforts to […]
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Washington: Leading financial institution JP Morgan Chase warned that the United States and European countries had imposed sanctions against the Russian fuel sector since the Ukraine conflict started. The Russian leadership has repeatedly warned of a strong retaliation against the sanctions. In this scenario, if the Russian leadership decides to cut oil exports, the fuel […]
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