Fri, Feb 10, 2023
The price of Brent crude rose on the news of the output cut from Russia, the world's second-largest oil exporter after Saudi Arabia, increasing by more than 2.5 per cent on the day to $86.6 per barrel.
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Tue, Feb 07, 2023
India is playing an increasingly important role in global oil markets, buying cheaper Russian oil and refining it into fuel for Europe and the US. India's importance is expected to expand after fresh European Union sanctions on Russian petroleum exports take effect. #russianoil #crudeoil #zeebusiness
Mon, Dec 12, 2022
The G7 nations, the European Union(EU) and Australia last week agreed to a $60 per barrel price cap on Russian seaborne crude oil, as part of its sanctions on Russia, owing to its invasion of Ukraine.
Sat, Dec 03, 2022
US Treasury Secretary Janet Yellen has proposed the cap with other Group of 7 allies as a way to limit Russia's earnings while keeping Russian oil flowing to the global economy. The aim: hurt Moscow's finances while avoiding a sharp oil price spike if Russia's oil is suddenly taken off the global market.
Sat, Oct 08, 2022
Oil price rise in India is way below global price hikes, said Union Minister of Petroleum and Natural Gas Hardeep Singh Puri, asserting that no country has told India to stop buying oil from Russia.
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