Riyadh/Warsaw: – While the fuel prices are increasing on the international level, Saudi has initiated steps to expand its market. Saudi signed three fuel agreements with Poland, one of the leading European countries. Sources indicated that these agreements can increase fuel supply to Poland and central and eastern European countries. Russia is known as the […]
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Washington/Riyadh: – As fuel prices in the United States continue to rise, the Biden administration has instructed the OPEC group of fuel-producing countries to increase production. However, in its monthly report, OPEC has indicated that it will reject the US demand for increased production. At the same time, the International Energy Agency (IEA) has warned […]
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Doha – The CEOs of renowned international oil companies have claimed that the crude oil rates would increase to the level of more than USD 100 per barrel. The senior officers said that this rise would be because of the reduced flow of investment in the sector. It is claimed that the oil companies have […]
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Paris: – Since the last few days, US financial institutes are predicting and forecasting a flareup in the international oil prices. The International Energy Agency (IEA) claimed that these statements regarding oil price flareup are misleading. In the last five months, oil prices have increased by 80%. Moreover, the US financial institutions and analysts had […]
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Vienna: – It was decided in the meeting of OPEC, the organisation of oil-producing countries, that the oil production should be maintained at the current levels. But Saudi created a sensation with an announcement that it will be cutting down its oil production by 1 million barrels. This Saudi decision comes as a jolt to […]
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Washington: William Schaffner, a senior medical researcher from the United States, warned that the Second wave of Coronavirus has begun. The warning issued by Schaffner becomes significant because of the number of Coronavirus cases rising once again in leading countries like China and the United States. Indications are that the second wave of Coronavirus will […]
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New Delhi: – India has fully exploited the fall in the oil prices in the international market. The Indian oil companies have filled up their storages completely. Dharmendra Pradhan, Minister of Petroleum, has informed that the oil has been stored in the storage tanks, pipelines and even in oil tankers. Pradhan said that the quantity […]
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New Delhi: The crude oil rates are crashing in the international markets. The crude oil rates have plummeted by nearly 40% in the last week, resulting in a slide of USD 30 per barrel. As per experts, the sliding oil prices in the international markets become an opportunity for a country like India, who imports […]
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New Delhi: The worldwide demand for oil has drastically reduced since the Coronavirus went on a rampage around the world. This has pulled the oil rates down. Countries like India, who import 80% of its oil requirement, can benefit in a big way because of this. Media are claiming that the dispute between OPEK countries […]
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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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