homemarket Newscommodities NewsCrude oil prices gain as US proposes new sanctions in Venezuela
market | May 22, 2018 9:12 AM IST

Crude oil prices gain as US proposes new sanctions in Venezuela

Crude oil prices have already witnessed $80 a barrel, but there is strength coming back in Asia as US is now proposing sanctions on Venezuela. Venezuela has been going through economic and political issues and with sanctions coming in, it clearly means that oil supply will go down by one of the OPEC producer countries.

Recommended Articles

View All

Iran has already talked about cutting down production as they go forward.
An important statement came from British Petroleum’s BoB Dudley where he said that as long as the crude prices hold around $80 a barrel, we will continue to see higher production from shale and OPEC as well and that might bring the prices down to $60-65 a barrel.
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!

Top Budget Opinions

    Most Read

    Market Movers

    View All
    Top GainersTop Losers
    CurrencyCommodities
    CompanyPriceChng%Chng