Easing sanctions against Venezuela: contribution to the oil markets is still a drop in the ocean!

The US recently eased its sanctions against Venezuela on condition that the government led by Nicolas Maduro would hold free and fair elections in 2024. The move, not unexpected, came as the tension in the Middle East rose exponentially with the possibility of the US being sucked into the current c…

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Japan appeals to oil producers to increase the production

As the war between Israel and Hamas enters its second week, with no sign of the hostilities being on the wane, Japan, appealed  to the oil producing countries  on Wednesday  to increase the production in order to stabilize the energy markets . The urgent request was made after a telephone conversation …

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Oil prices and conflict in the Middle East: volatility eases, but gas prices are up

As the war between Israel and Hamas enters the sixth day, the oil markets appear to have found the stability with the volatility that we witnessed at the outset being on the wane. As of 10:50 GMT, the prices of WTI, Brent and LNG, liquified natural gas, were at $84.29, $86.89 and $3.34 respectively. …

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Rising oil prices: Indian oil minister warns about unintended consequences of production cuts!

The price of crude oil substantially fell on Wednesday, despite the decision by the OPEC+ to sticking to the production cuts already made by Russia and Saudi Arabia. The prices did not recover enough to gather momentum to reach $90 a barrel in the early hours on Thursday: as of 09:00 GMT, the prices…

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Oil and gas exploration: the significance of Starlink constellation of satellites

Starlink, the constellation of satellites owned by SpaceX headed by the legendary visionary, Elon Musk, appears to be helping with data access beyond the domain of the initial audience - remote locations and the regions with no access to the internet services. The original plan of Mr Musk was making…

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