opec supply

Oil prices report second straight weekly gain, hit 6-month high on Middle-East crisis; Brent at $91/bbl

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Oil prices report second straight weekly gain, hit 6-month high on Middle-East crisis; Brent at $91/bbl

Global crude oil prices reported a second straight weekly gain and hit six-month high levels as markets watched for signs of any direct conflict between Israel and Iran that could further tighten supplies. This sudden uptick in crude oil prices has reignited fears of inflationary pressures and instilled fresh concerns among global central bankers, policymakers, … Read more

Explained | Why are crude oil prices elevated after OPEC+ policy decision and how will it impact India?

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Explained | Why are crude oil prices elevated after OPEC+ policy decision and how will it impact India?

The Organisation of Petroleum Exporting Countries and its allies (OPEC+) conducted its joint ministerial monitoring committee meeting (JMMC) earlier this week and kept the supply policy unchanged till mid-2024, while pressing some oil producing nations to increase the compliance with output cuts.  The April 3 policy decision by OPEC+ led to a spike in international … Read more