Dreadful attacks started on the oil refinery project of Aramco company at Abqaiq in Saudi, at 3:31 am on Saturday. Within the next eleven minutes, Khruais oil installations came under drone attacks. The Houthi rebels from Yemen accepted the responsibility of the attacks. Even in the past, the Houthi rebels have targeted Saudi military bases, […]
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Riyadh/Tehran: Saudi Crown Prince Mohammed Bin Salman warned that Saudi was competent and ready to retaliate against the terror attack on the largest oil refinery project in Saudi Arabia. Saudi Arabian Crown Prince Mohammed Bin Salman held a telephonic discussion with US President Donald Trump regarding the attacks by the Houthi rebels on Saturday. At […]
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Moscow: Analysts have indicated a change in equations, in the fuel market, because of the trade war, the supply exceeding the demand situation and tension over the Iran issue. Against this background, Russia and Saudi Arabia have once again concurred on the issue of reducing crude oil production. Both the countries have been willing to […]
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Beijing: While the indications of the trade war between the United States and China have been flaring up further, China has aggressively started augmenting its Gold reserves. Since December last year, China has been on a gold buying spree and over just six months, has purchased a whopping 74 tonnes of gold. This Chinese purchase, […]
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Moscow: OPEC member countries and Russia may increase the production of crude oil by the end of this year. This will result in the supply of crude oil exceeding the demand. Russian Energy Minister Alexander Novak claimed that therefore, the rate of crude oil could crash below $30 per barrel. Only 24 hours ago, the […]
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Washington: On May 12, four vessels near the coast of the UAE were subjected to sabotage attack. US State Secretary Mike Pompeo blamed Iran for attacks in the Gulf, saying it was an effort by Tehran to raise the global price of oil as it is reeling under the economic crisis. Pompeo claimed Iran to […]
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London: The crude oil rates have risen, in light of the raging conflict in Libya and the US sanctions against Iran and Venezuela. The crude prices jumped to $70 per barrel, in the international market, on Monday and the US crude also rose to $63 per barrel. These rates are the highest, in the last […]
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Riyadh: A study group from Saudi had warned ‘Our analysis shows that back in 2011-2012 when Libya experienced supply disruptions, prices for crude could go to sky-rocket. The same can be repeated in the future. If it were not for the decisions made by Russia and Saudi Arabia as part of OPEC+ cooperation, in 2018, […]
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Moscow/Riyadh: Russian President Vladimir Putin and Saudi Arabian Crown Prince Mohammed Bin Salman have reached a consensus about continuing the cooperation in reducing the levels of oil production during their discussions. In line with this, an announcement of reduction in oil production is expected from both the countries. Riding on the news of consensus between […]
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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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