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Even though the nearly 3-hour meeting between US President Donald Trump and Russian President Vladimir Putin was inconclusive, Putin invited Trump to Moscow for the next meeting. After that, good news has come for about 100 countries of the world, which is a big relief. After this meeting, crude oil prices have seen a decline of about two percent. In fact, about 98 countries in the world produce crude oil. The same crude oil is supplied to the remaining 100 countries of the world. Due to relief in crude oil prices, a reduction in global average inflation is seen.
Also, less pressure is seen on oil importing countries. When the market closed after the meeting, the price of American crude oil closed with a decline of about two percent. At the same time, crude oil of Gulf countries also closed with a decline of about one and a half percent. The special thing is that Gulf and American oil has become cheaper by more than 9 percent in the month of August. Let us also tell you how the impact of the meeting between Trump and Putin has been seen in the prices of crude oil.
Trump and Putin had a meeting for about 3 hours in Alaska. In which there is news of no agreement on most of the issues. This means that Putin appeared adamant on his terms and Trump had to return empty handed. But the most important thing that came to light is that both the heads of state have kept the door open for the next round of talks. Trump himself said that he will meet Putin soon. Then Putin decided the venue of the next meeting as Moscow. This means that there is a possibility of another meeting between the two countries soon. In such a situation, it seems that the door to peace between Russia and Ukraine has not yet closed. The indication of which was given by the prices of crude oil itself. There was a fall in the prices of crude oil in the international market. Which is an indication that the doors to peace have not been closed by either Russia or America.
Oil fell by about two percent
After the closure of the international market, the prices of American crude oil fell by about 2 percent. According to the data, the prices of American crude oil, also known as WTI, fell by 1.80 percent to $ 62.80 per barrel. According to the data, in the month of August, the prices of American crude oil have come down by 9.32 percent i.e. $ 6.46 per barrel. This means that in the month of August, many countries of the world have got a big relief on the crude oil front.
On the other hand, the prices of crude oil in the Gulf countries have seen a decline of about one and a half percent. According to the data, on August 15, the price of Brent crude oil in the international market fell by 1.48 percent to $ 65.85 per barrel. In the month of August, the prices of Brent crude oil have come down by $ 6.68 i.e. 9.21 percent. According to experts, the signs of reduction in the prices of Brent crude oil are very good for India. India is also a major oil importer of Gulf countries.
This meeting was very important for India
This meeting of Trump and Putin was very important for India. There is a reason for that. If something positive had come out of the meeting regarding ceasefire, then the possibility of removal of the 25 percent tariff imposed by Trump on Russian oil import would have been strong. But now when there is no consensus on ceasefire, Trump will not remove the extra tariff of 25 percent on India. Which will be implemented from 28 August. According to experts, the meeting of Trump and Putin was an important step, which would have opened the way for the next meeting, which has opened. In such a situation, there is no reason for India to be disappointed. On the other hand, talks are going on between the officials of America and India regarding the tariff. It is possible that before 28 August, there is a tariff imposed on Russian oil, which may be relieved.
India’s Russian oil import increased
On the other hand, according to a report, India’s Russian oil import has been seen increasing in the month of August. According to Kpler’s report, India is importing 2 million barrels of crude oil from Russia every day in the month of August. Which was 1.6 million barrels per day in the month of July. According to the report, India’s purchase of Russian oil has increased to 2 million barrels per day in August. The reason for this is that refiners are giving more priority to economic aspects.
According to global real-time data provider Kpler, 38 percent of the estimated 52 lakh barrels per day of crude oil imported in the first fortnight of August came from Russia. Imports from Russia stood at 2 million barrels per day, which was 16 lakh barrels per day in July. This increase in Russian imports came at the expense of purchases from Iraq, which fell from 907 barrels per day in July to 7,30,000 barrels per day in August, and also from Saudi Arabia, which fell from 7,00,000 barrels per day last month to 5,26,000 barrels per day. According to Kpler, the US was the 5th largest supplier with 2,64,000 barrels per day.
US President Donald Trump and Russian President Vladimir Putin met in Alaska. The eyes of the whole world were fixed on this meeting. However, nothing special happened in the meeting because no agreement could be reached between the two leaders on any deal. Apart from this, many questions have started arising about this meeting. Trump speaking less in the press conference is bothering people.
When President Trump meets the leaders of many other countries, he answers most of the questions in the press conference. Along with this, he takes more time to speak himself rather than the other person. However, he could speak only for 3.3 minutes in front of Putin. This is the reason why questions are being raised.
Trump’s will did not prevail over Putin?
Vladimir Putin and Donald Trump met in Alaska on 15 August. Speaking at the press conference, the Russian President said that he has agreed on an agreement with the US President. However, none of the two leaders gave much information about this agreement.
This summit in Alaska lasted for about three hours, although the press conference after the summit lasted only 12 minutes. The most surprising thing is that even in these 12 minutes, Trump was able to speak only for 3.3 minutes. This has never been seen before. This is the reason why questions are being raised that Trump was not able to get his way in front of Putin?
No agreement until there is agreement
After the Alaska Summit, both Putin and Trump did not answer any questions from the media. In this press conference, it was only told that this meeting and conversation has been positive. Further talks will continue. The leaders said that we have agreed on many issues. However, until the agreement is signed, it will not be considered an agreement.
Trump said in his conversation that I will call NATO and will definitely call President Zelensky. I will tell him about this meeting and conversation held today. During this, Trump mentioned that I have always had excellent relations with Putin.
Ukraine must be protected – Putin
Vladimir Putin said at the summit that he has reached an agreement with the US President. Targeting the Ukrainian President, Putin said that he hopes that the leaders of Kiev “will not hinder” the process of ending the war. He said that the security of Ukraine must be ensured, and his country is ready to do so. Along with this, the root causes of the war should also be kept in mind.
