Tue, 21-Oct-2025

Watch Live

logo-black

Download App

اردو

Crude oil

International drop in crude oil prices

by
Oil prices decreases as Russia sanctions stay in focus

The cost of oil has dropped to prices below 70 dollars in the international market.

As per the details, Libya has agreed to revive its crude oil export; subsequently, the effect on the demand side has reduced the prices.

The cost of crude oil in the international market is decreasing by $1.5 to $2 daily. Currently, it is being traded at around $68 in the global market.

Internationally, American crude oil is being traded at $67.67 as the price dropped by $2.14.

On the other hand, the cost of British crude oil decreased to $71 following a $1 drop.

[embedpost slug=”bangladesh-seeks-collaboration-with-saudi-arabia-for-crude-oil-imports/”]

Read more

Crude Oil Prices Slump on Global Market

by
Crude Oil

In the worldwide markets, crude oil prices have experienced a decrease of more than 5.5%. Brent crude dropped to $85.81 per barrel, while WTI reached $84.22 per barrel. This decline in crude oil prices is primarily due to concerns about a slowdown in the global economy and reduced demand. It’s unlikely that OPEC will further … Read more

Pakistan is trying to get crude oil from Russia: Musadik Malik

by
Pakistan is
  • Musadik Malik  said that he is talking to the IMF daily.
  • He said negotiations with Russia started 40 days ago.
  • He said that Pakistan is working on commercial details from Russia.

ISLAMABAD: Minister of State for Petroleum Musadik Malik has said that Pakistan is trying to get one-third of its crude oil from Russia.

The Minister of State for Petroleum Musadik Malik, in a special interview with Bol News, said that he is talking to the IMF daily, the IMF has not even once talked about increasing the price of petrol.
Musadik Malik said that whoever is saying about the prices of petroleum products is wrong as IMF is asking for structural reforms and demanding to develop of the responsible sector.

He said that “We have to develop the responsible sector for children, with or without the IMF, we will develop the responsible sector, under the IMF program, six months may be early.”

He said that for one and a half years, nothing has happened regarding the purchase of oil from Russia. He said negotiations with Russia started forty days ago. The message should be sent to people globally that an agreement has been reached in Pakistan and Russia.

He said commercial details have to be finalized by March. We have had discussions with Russia to start commercial relations after that, it has been signed.

[embedpost slug=”dar-urges-businessmen-to-generously-donate-for-turkiye-victims”]

Read more

Russian oil cargoes to start arriving from April, Senate told

by
Russian oil

Musadik Malik said vessels carrying Russian oil would arrive in April He said commercial terms will be finalized by the end of March He said long-term contract for crude oil import is under discussion ISLAMABAD: Minister of State for Petroleum Musadik Malik told Senate on Friday that vessels carrying Russian oil and crude products would … Read more

Pakistan to get crude oil from Russia on discounted rate: Musadiq

by
Russia oil

Russia has decided to provide crude oil, refined petrol, and diesel to Pakistan at a discounted rate Pakistan has started negotiations to procure LNG from Russian private-sector companies Musadiq Malik said the government is providing extra gas this year and monitoring the situation ISLAMABAD: Minister of State for Petroleum Dr Musadik Malik said Russia has … Read more

China registers back-to-back 2nd month growth in refinery output

by
china refinery output

China’s crude oil throughput increased by 0.8% in October. Refiners increased processing to export more refined fuel. Natural gas output jumped 12.3% from October to 18.5 billion cubic metres in November. China’s crude oil throughput increased by 0.8% in October compared to the same month a year earlier, according to data released on Tuesday, as … Read more

Fire at Cuban oil complex injures over 100, kills 1

by
cuba oil

At least 122 people are injured, including five in critical condition. Two storage units holding petroleum and fuel oil were destroyed by a lightning-sparked blaze at an oil facility. More than One hundred people were injured and one person was killed as a result of a lightning-sparked fire at a crude oil storage facility in … Read more

DFM and DME ring market opening bell to launch trading of Oman crude oil futures

by

Oman Crude Oil Futures Contracts are now being traded on the Dubai Financial Market (DFM), giving investors a unique opportunity to invest in this important asset class. In the presence of Hamed Ali, CEO of DFM and Nasdaq Dubai, and Raid Al-Salami, Managing Director of DME, as well as senior representatives of the new product’s … Read more

Price of diesel skyrockets in U.S; heavy wheelers distressed

by
Poland-Belarus

Price of diesel skyrockets in the U.S; heavy wheelers distressed The cost of diesel hit an unsurpassed high in the United States this week as energy markets all over the planet adapt to continuous interruptions in the midst of Russia’s intrusion of Ukraine. The typical cost of a gallon of diesel was $5.296 on Sunday, … Read more

Oil tops $113, equities sink on Ukraine war fears

by
crude oil

HONG KONG: Crude surged past $113 a barrel Wednesday and equities sank with investors growing increasingly fearful about the Ukraine war’s impact on global energy supplies and the economic recovery. Russian President Vladimir Putin’s invasion of his neighbour has sent world markets into a spiral over the past week, further fraying nerves on trading floors … Read more

Lotte Chemical Pakistan

by
lotte chemical

Lotte Chemical Pakistan Limited was incorporated in Pakistan on May 30, 1998. The principal activity of the company is to manufacture and sale Pure Terephthalic Acid. Lotte Chemical is the only world-class manufacturer and supplier of Purified Terephthalic Acid (PTA) in Pakistan with a capacity to deliver 500,000 tonnes every year through its state-of-the-art plant … Read more

East China province sees robust trade with B&R countries

by
trade

JINAN – East China’s Shandong Province saw robust growth in its foreign trade with countries and regions along the Belt and Road in 2021, local authorities said. The trade rose by 40.8 percent year on year to about 937.6 billion yuan (around 147.6 billion U.S. dollars) last year, accounting for 32 percent of the province’s … Read more

Crude hits 7-year high on recovery hope but equity rally runs out

by
crude oil

HONG KONG: Crude oil hit a more than seven-year high on Tuesday on optimism the global recovery will ramp up demand, but concerns about the end of long-running central bank support and rising Treasury yields saw most equity markets reverse early gains. After an almost uninterrupted rally from the early days of the pandemic, world … Read more

Oil set to post biggest annual gains

by

Oil prices edged down on Friday but were set to post their biggest annual gains in 12 years, spurred by the global economic recovery from the Covid-19 slump and producer restraint, even as infections surged to record highs around the world. Brent crude futures fell to $79.14 a barrel, while US West Texas Intermediate (WTI) … Read more

China’s export growth lost steam in November

by
China export

BEIJING: Export growth in China lost some steam in November, as holiday demand from abroad faded, official data showed on Tuesday, but the demand for overseas fuel pushed up imports to spike above expectations. Strong exports have helped boost growth in the world’s second-largest economy since the middle of 2020, with China containing domestic outbreaks through … Read more

US acts outside IEA; release oil from SPR to curb fuel prices

by
US

LONDON: Despite warning from analysts, US President Joe Biden finally announced the release of crude oil from the country’s strategic stockpile, a unilateral move first mooted by his Energy Secretary Jennifer Granholm in October, as he seeks to curb inflationary pressure in the US economy, Arab News reported. Gasoline prices nationwide are averaging about $3.40 a gallon, … Read more

Japan plans to keep oil as 30% of its energy mix

by

TOKYO: Japan will not change the basic policy that crude oil will continue to account for about 30 per cent of its primary energy supply up to 2030, which is consistent with the ambitious 2030 greenhouse gas emissions target, Arab News quoted Japan’s Trade and Industry Minister Koichi Hagiuda, as saying. “Oil is used for … Read more

EIA trims global oil demand, price forecast

by
gas deposits

DUBAI: The global crude demand both for 2021 and 2022 will be lower than previously forecast on the concerns of travel restrictions extending into the next year, Khaleej Times quoted the US Energy Information Administration, as saying. Despite the lower-than-expected demand surge, the EIA still foresees a 5 million bpd increase this year and another 3.6 million … Read more

Saudi oil income increased despite 20% drop in crude exports

by
crude oil

RIYADH: Saudi Arabia could not ship more crude oil in the first-half as it voluntarily restrained output under Opec+ production-cut agreement; however, high oil prices this year helped the kingdom to see stable income, Arab News reported. The kingdom’s crude oil exports averaged 5.776 million barrels per day (bpd) in the first-half of 2021 that is 19.8 … Read more

US Pressurizes KSA to cut crude output

by
oil

United States is pressurizing Saudi Arabia to put oil cut in motion. Media reports said that the Republican senators from oil states talked to officials from the Kingdom and urged them to take timely actions to cut crude output. Senators Dan Sullivan and Kevin Cramer the call. These are the senators who introduced legislation in … Read more

Oil prices fell to lowest level in 18 years amid coronavirus pandemic

by
Oil markets

The prices of oil have fallen to the lowest level in 18 years as demand for crude oil has decreased after coronavirus pandemic. International news agency BBC reported that Brent crude fell to $23.03 a barrel at one point on Monday morning, its lowest level since November 2002. Meanwhile, the price of US West Texas … Read more

Oil Prices look to cuts over economic impact of coronavirus

by
US Oil prices

Oil prices look to cuts on Tuesday nagging concerns over the economic impact of the coronavirus outbreak in China and its effect on oil demand, tracking losses in financial markets. Reuters reported that Oil prices look to cuts on drawing concerns over economic impact of the coronavirus outbreak in China and its effect on oil … Read more

Oil prices fear to rise after attack on Saudi oil facilities

by
Oil surges after attack on Saudi oil facilities

Oil prices saw a record surge after attacks on two Saudi facilities slashed output in the world´s top producer by half, fueling fresh geopolitical fears as Donald Trump blamed Iran and raised the possibility of a military strike on the country. Brent futures surged $12 in the first few minutes of business — the most … Read more

I have authorized the release of oil from the Strategic Petroleum Reserve: Trump

by
Lawyers in senate representing US President have started defending themselves of the President in his impeachment trial.

President Donald Trump took a big step to authorize the release of oil from US strategic reserves after drone attacks on Saudi Arabia’s Abqaiq plant. In a tweet, Trump wrote, “Saudi Arabia oil supply was attacked. There is reason to believe that we know the culprit, are locked and loaded depending on verification, but are … Read more

Menu

Latest

Entertainment

Lifestyle