US will dominate the oil sector and continue to do so despite upheaval of prices in the sector, claims US Deputy Secretary for energy

US will dominate the oil sector and continue to do so despite upheaval of prices in the sector, claims US Deputy Secretary for energy

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 […]

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Saudi and Russia reject US President’s demand to increase oil production to control price rise

Saudi and Russia reject US President’s demand to increase oil production to control price rise

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 […]

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Saudi plan to take crude oil to $100 after attaining a high rise in the fuel prices within three and a half years.

Saudi plan to take crude oil to $100 after attaining a high rise in the fuel prices within three and a half years.

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 […]

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Russia completely stopped trade of oil in Dollars and Euros – Dy. Russian PM Alexander Novak claims

Russia completely stopped trade of oil in Dollars and Euros – Dy. Russian PM Alexander Novak claims

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 […]

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Russian President and Saudi Crown Prince discuss the decision to cut oil production – the Kremlin informs

Russian President and Saudi Crown Prince discuss the decision to cut oil production – the Kremlin informs

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 […]

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Saudi, Opec Plus nations announce to slash crude oil production – crude oil rates in the int’l markets may touch $100, experts warn

Saudi, Opec Plus nations announce to slash crude oil production – crude oil rates in the int’l markets may touch $100, experts warn

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 […]

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