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 […]
Read More »
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 […]
Read More »
Tokyo: Repercussions of the saboteur attacks on the Saudi tankers have been felt in the international crude oil market as well. On Monday, the oil market opened with a rise of 2% in the crude oil rates. The US media stated that the spike was attributed to the uncertainty created over future oil exports owing […]
Read More »
London: The effects of the US tightening the noose around Iran against oil trade have started emerging on the international level. Following the announcement by the United States, the Crude rates have spiralled to $ 75 per barrel, in just three days. As per the analysts, after the actual implementation of the sanctions, the rates […]
Read More »
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 […]
Read More »
Tehran: The Iranian Defence Minister Brigadier General, Amir Hatami threatened, ‘If Israel takes action on the Iranian oil movement, it will be termed as theft of oil and this theft will be dealt by Iran with very harsh retaliation.’ Last week, Israeli Prime Minister Benjamin Netanyahu had announced that Iran is involved in oil smuggling […]
Read More »
Riyadh: Saudi Aramco, Saudi’s leading oil company has discovered large quantities of natural gas reserves in the Red Sea. The Saudi Press Agency confirmed the announcement of Saudi Arabia’s Oil Minister, Khalid al-Falih had made. Two years ago, Saudi Arabia’s Crown Prince Mohammed bin Salman had announced an ambitious project, the Future Megacity Neom worth […]
Read More »
Tokyo/London: The record crash in the US stock markets has severely hit the major stock markets in Asia and Europe. The indices in the leading economies of Japan and China in Asia and the index in the United Kingdom, France and Spain have also recorded decline. The analysts have indicated that the decline will continue […]
Read More »
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, […]
Read More »
Vienna: A decisionfor major reduction in the oil production was taken during a meeting held between OPEC, the association of the oil Producing and exporting countries, along with Russia and the other countries. In spite of the appeal made by US President Donald Trump on Wednesday, the decision was taken by OPEC and Russia in […]
Read More »
