Tag Archives: The Asian Age

At the current price of USD 70 per barrel. the annual value of global oil output is USD 2.5 trillion.

India. the world’s third-biggest oil consumer. meets more than 80 per cent of its oil needs through imports.

Saudi Arabia still wants to keep oil prices as high as possible without offending Washington.

Much will depend on the European Union. which has vowed to resist US sanctions on Iran.

The LNG cargo was received by Oil Minister Dharmendra Pradhan.

Oil ministers from OPEC and its partners meet on June 22-23 in Vienna to review the existing agreement.

Oil prices edged higher after the report was released to trade above $69 a barrel and later steadied.

Freezing weather in the United States has spurred short-term demand. especially for heating oil.

India’s average monthly imports in 2017 of about 1.7 million tonnes are well still behind China’s 2.2 million tonnes.