US
Iran’s biggest oil customers are China and India, who have both been lobbying for extensions to sanction waivers
Ogra sends summary to Petroleum Division recommending hike in oil prices for April 2019
US oil prices have climbed 9% in the last six weeks
Although the threat of an all-out trade war dampens the outlook for the global economy
Rates slashed despite OGRA's recommendation for price hike
Global lender predicts GCC will grow 2.4% in 2018 and 3% in 2019
Washington imposed sanctions against Iran on Monday, restoring measures lifted under a 2015 nuclear deal
Pakistan has entered a debilitating inflationary cycle amidst rising global oil prices
The call comes days after the US president criticised OPEC for high oil prices
OGRA had recommended increase of up to Rs4.41 per litre