Saudi stops marine oil shipments following the attack on the oil tanker by Houthi rebels

Saudi stops marine oil shipments following the attack on the oil tanker by Houthi rebels

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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Sanctions against Iran & trade war could trigger a surge in crude oil prices up to $120, claim analysts

Sanctions against Iran & trade war could trigger a surge in crude oil prices up to $120, claim analysts

Washington: The experts and analysts in the oil sector have claimed that crude oil rates could rise up to $120 due to the sanctions imposed by the United States on Iran and the trade war in the global economy. The oil supply from Iran has declined since the European and Asian countries have taken steps […]

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Saudi Arabia will increase its oil production by 2 million barrels to reduce oil prices, claims President Trump

Saudi Arabia will increase its oil production by 2 million barrels to reduce oil prices, claims President Trump

Washington/Riyadh: President Trump made a sensational claim that the Saudi Arabian ‘King Salman’ has expressed willingness to increase the crude oil production by 2 million barrels. Although, Saudi has accepted the report about a discussion between the US President and King Salman, it has refused to comment on the matter of any such firm commitment […]

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Venezuela’s economic crisis & Iran’s Nuclear Program, lead to surge in crude oil prices to $75 per barrel

Venezuela’s economic crisis & Iran’s Nuclear Program, lead to surge in crude oil prices to $75 per barrel

London/Washington/Tehran: The crude oil prices have once again surged against the backdrop of US President, Donald Trump’s deadline to withdraw from the Iran Nuclear Deal and the Venezuelan economic crisis. On Monday, the crude oil prices in the global markets rose to $75 making it the first time since Nov 2014 to hit its highest […]

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India takes initiative to control fuel prices taking major buyers China, Japan and South Korea together

India takes initiative to control fuel prices taking major buyers China, Japan and South Korea together

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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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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Electric Car revolution could slump oil prices to 10 dollars, warns a British analyst

Electric Car revolution could slump oil prices to 10 dollars, warns a British analyst

Landon: Chris Watling, a British analyst, warned about the drop oil prices to 10 dollars per barrel in next few years. He said that, “Development in electric cars will cause significant events around the world. As 70 percent of all the crude oil produced is used for transportation. We cannot forget that approximately 120 years ago the world was not […]

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China-Myanmar’s ambitious oil pipeline goes operational

China-Myanmar’s ambitious oil pipeline goes operational

Yangon/Beijing: The ambitious ‘Myanmar-China’ oil pipeline which should reduce the risk for China while importing oil by sea route went operational on Monday. The final agreement on this was signed during Myanmar’s President Htin Kyaw’s visit to China. As sources inform, a few hours after signing the agreement, the  supply of crude oil to the pipeline […]

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