Russia and Saudi Arabia agree on reducing crude oil production: President Vladimir Putin

Russia and Saudi Arabia agree on reducing crude oil production: President Vladimir Putin

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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Crude rates soar ahead of US sanctions against Iran, reach $ 75 per barrel

Crude rates soar ahead of US sanctions against Iran, reach $ 75 per barrel

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 […]

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Israel will face strong retaliation if it stops Iranian crude movements; warns Defence Minister of Iran

Israel will face strong retaliation if it stops Iranian crude movements; warns Defence Minister of Iran

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 […]

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Saudi Arabia discovers large quantities of natural gas reserves in Red Sea

Saudi Arabia discovers large quantities of natural gas reserves in Red Sea

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 […]

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Upheaval in the US stock markets hits the Asian and European markets

Upheaval in the US stock markets hits the Asian and European markets

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 […]

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Crude oil rates will zoom to $300 per barrel if there is opposition to the OPEC-Russia front; claims Saudi study group

Crude oil rates will zoom to $300 per barrel if there is opposition to the OPEC-Russia front; claims Saudi study group

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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