Mon, Apr 29, 2024
Currently, such third-party risks are insured with the International Group of Protection and Indemnity Clubs (IG Clubs), a 13-member group based in London that provides liability cover to about 95 per cent of the world's ocean-going ships by capacity (tonage), placing a USD 1-billion limit on individual claims that involve pollution damage and wreck removal.
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Thu, Jan 04, 2024
The data shows that crude imports and lifting indications from major Middle Eastern suppliers, particularly Iraq and Saudi Arabia, have witnessed an upswing in the fourth quarter and are expected to continue into Q1 2024.
Tue, May 16, 2023
The trade is legal under EU sanctions but has been criticised by those who want to see harsher sanctions imposed on Russia and argue that it has allowed Moscow to keep earning large revenues from its oil sales -- the biggest component in the Kremlin's budget.
Wed, Apr 05, 2023
Several OPEC+ members have decided to voluntarily cut their oil production by more than a million barrels per day. Russia has also extended a cut of 500,000 barrels per day. But despite of the fresh oil cuts, Russia is going to benefit greatly from it.
Mon, Mar 06, 2023
India's imports of crude oil from Russia soared to a record 1.6 million barrels per day in February and are now higher than combined imports from traditional suppliers Iraq and Saudi Arabia.
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
Sat, Dec 03, 2022
The US said the price cap is an "important tool" to restrict the revenue Russia receives to fund its illegal war in Ukraine, while also maintaining a reliable supply of oil onto global markets.
Fri, Dec 02, 2022
There will be an important meeting of OPEC+ countries on December 4. What will happen in OPEC+ meeting? Will there be a decision on reducing oil production? How much price will be fixed for Russian oil? Why world's eyes on this meeting? Watch Commodities Live to know experts opinion.
Fri, Nov 25, 2022
Western governments are aiming to cap the price of Russia's oil exports in an attempt to limit the fossil fuel earnings that support Moscow's budget, its military and the invasion of Ukraine.
Wed, Nov 23, 2022
Crude fell more than 2% on MCX today. WTI crude slipped to $79 and Brent crude fell below $86. According to reports, a price cap of $65-70 per barrel is possible on Russian oil. A price cap may be imposed on Russian oil at the G-7 meeting. Russia is currently selling crude at a discount of $
Wed, Nov 09, 2022
India's foreign minister said on Nov 8 after meeting his Russian counterpart for the fifth time this year adding that the two countries were expanding their trade ties
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