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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Discussions between US President & Crown Prince of Saudi Arabia

Discussions between US President & Crown Prince of Saudi Arabia

Washington : ‘Mohammed bin Salman’ the crown prince of Saudi Arabia, met the US President Barack Obama during his recent visit to the United States of America. During the meeting Obama and the Saudi prince discussed a wide range of issues, including Washington-Riyadh bilateral relations as well as developments in the Gulf. On the backdrop of […]

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Russia races ahead to become the world’s largest fuel exporter, leaves Saudi Arabia behind

Russia races ahead to become the world’s largest fuel exporter, leaves Saudi Arabia behind

London, Dated.11.06.2016-Russia was declared as the largest fuel exporter in the world for year 2015. This information was published by the leading fuel company BP. Russia exported around 75% of its oil produce and 33.7% of its CNG. A net increase of 1.2% in the fuel production of Russia compared to the year 2014 has […]

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