HEAVILY INCREASED CRUDE OIL PRICES

 

Mumbai,May 18,(globelmedianews.com):
In international markets, crude oil prices continue to burst. On Tuesday, the New York barometer rose 0.5 percent to $ 71.31 a barrel. In London, Brent oil also rose 0.3 percent to $ 78.43 a barrel. Oil prices have touched the level of November 2014. Currently, Niger's barrel slid by 0.2 percent to $ 71.16 a barrel.

HEAVILY INCREASED CRUDE OIL PRICES

Brent barrel also slid by 0.2 percent to $ 78.27 a barrel. The US has been wiping out oil prices since the US has abandoned its nuclear deal three years ago with crucial Iran for oil supplies in the Middle East. Oil prices are on the rise as US restrictions on Iran have been canceled, including the nuclear deal. Oil supplies have already fallen due to the reduction in production of OPEC countries. On the other hand, OPEC countries will again meet in Vienna this month to strengthen the oil prices. Some oil producers are trying hard to increase prices. Countries in the Petroleum Exporting Countries (OPEC-OPEC) have severely reduced oil production in Russia. The result was poor. In fact, the price of crude oil fell to $ 27 per barrel in February 2016. After two years, the barrel reached $ 70. As a result, petrol and diesel prices in India have reached the highest level in the last three years.

No comments:
Write comments