New Delhi, April 14 (IANS) With the US military starting its blockade of Iran’s ports, around two million barrels of Iranian oil per day is expected to be shut out from the world’s markets, tightening global supply and leading to a further rise in prices of petroleum products, according to reports.A complete blockade of the Strait of Hormuz may also impact LPG supplies for India, as over the past month the country managed to have at least eight LPG tankers safely crossed through the strait,” w…
Latest Oil revenues News & Updates
Washington, Jan 29 (IANS) US Secretary of State Marco Rubio has defended Washington’s oversight of Venezuelan oil revenues, telling senators that the arrangement was necessary to prevent economic collapse while the country transitions away from corruption and mismanagement.Rubio on Wednesday (local time) said Venezuela was facing an immediate crisis after the removal of Nicolas Maduro, with oil production continuing but no place to store or sell crude.“They were producing oil, they were dril…