G20 energy ministers have agreed to hold an emergency meeting on Friday to discuss global collaboration with OPEC+ oil production cuts. Boosting the price of crude is an economic imperative for members such as Saudi Arabia and Russia, but the majority of the group of major economies arguably have more …
Read More »Trump Says Will Put Tariffs on Oil Imports If He Has to
Oil prices have collapsed recently both due to the lowered demand amid the rapid spread of COVID-19 and OPEC+’s failure to reach an agreement on cutting oil output in April. President Donald Trump said on Saturday that he “does not care about OPEC” and that he will put tariffs on …
Read More »Oil Jumps as Trump Talks up Truce Hopes for Saudi-Russia Price War
Crude oil futures jumped 10% on Thursday after U.S. President Donald Trump said he expected Saudi Arabia and Russia to reach a deal soon to end their oil price war. Brent crude futures rose more than 11% in early trade. By 0958, Brent was up 8.97%, or $2.22, to $26.96, …
Read More »Trump Attempts to Push Harder to Curb Venezuela`s Oil Trade
The Trump administration recently imposed sanctions on a subsidiary of Russia’s Rosneft.
Read More »U.S. Business Gauge Tumbles to Lowest Since 2013 on Virus
U.S. business activity shrank in February for the first time since 2013 as the coronavirus hit supply chains and made firms hesitant to place orders. a warning sign that the outbreak is starting to dent the world’s largest economy.
Read More »Rosneft Shifts Exports to Affiliate. Skirting U.S. Sanctions on Venezuela
Moscow has been a crucial supporter of the Maduro regime over the years.
Read More »U.S. Sanctions Russian Producer Over Links to PDVSA
The U.S. sanctioned a unit of Russia’s largest oil producer Rosneft PJSC for maintaining ties with Venezuela’s Nicolas Maduro and state-run oil company PDVSA.
Read More »Iran’s Defense Ministry to Build 83 Commercial Ships
The Iranian defense ministry will be paid $280 million by the Port and Maritime Organization of the country (PMO) to build 83 new large vessels. in a move to bypass the US sanctions against Tehran’s transportation infrastructures.
Read More »Russia not to be Able to Complete Nord Stream 2 Construction on Its Own
The Nord Stream 2 project will connect Russia'.s Ust-Lug and Germany'.s Greifswald.
Read More »US has Prevented $6bn Russia-Germany Gas Pipeline
It’s going to be a very long delay. because Russia doesn’t have the technology.
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