Oil on the boil

Source: Business Standard Relevance: Understanding how global crude oil prices impact India Synopsis: India should gradually move away from an over-reliance on imports for its crude oil and gas requirements. Possible solutions. Impact of energy demand Energy prices are likely to stay elevated due to demand from a rapidly recovering global economy, even if the… Continue reading Oil on the boil

India’s oil demand to rise at fastest pace in world: Opec

News: The Organization of the Petroleum Exporting Countries (OPEC) has released the World Oil Demand report. Facts: The report has said that India’s oil demand will rise by the fastest pace globally in 2019 and 2020 even as its economic expansion has slowed down. However,the report also highlighted that India has experienced lower than expected… Continue reading India’s oil demand to rise at fastest pace in world: Opec

OPEC agrees to extend output cuts into 2020 as demand falters

Organization of the Petroleum Exporting Countries(OPEC) has won the support of other major oil producing nations to extend a production cut in a bid to shore up prices at a time of decreasing demand. The 10 non-OPEC nations present at the meeting included countries such as Mexico, Bahrain, Kazakhstan and Russia among others. The United… Continue reading OPEC agrees to extend output cuts into 2020 as demand falters