BusinessShaik Abdul Sammadeditor@indiaherald.comhttps://www.indiaherald.com/ImageStore/images/business/technology_videos/-opec-fuel-supply-hike-could-be-india-gainfa46cdb4-3ced-472e-8a3b-71629a46184e-415x250-IndiaHerald.jpghttps://www.indiaherald.com/ImageStore/images/business/technology_videos/-opec-fuel-supply-hike-could-be-india-gainfa46cdb4-3ced-472e-8a3b-71629a46184e-415x250-IndiaHerald.jpg

Fuel consumers may get some relief from increasing prices of diesel and petrol as global oil scenario is expected to change in a softer way in the coming days with oil cartel Organisation of Petroleum Exporting Countries (OPEC) reaching an agreement to increase production to meet the growing demand. The global surge in Covid cases have made the oil market uncertain which has the potential to erode demand quickly

opec oil supply hike India gain{#}Saudi Arabia;UAE;gulf countries;oil;Petrol;Diesel;JuneOPEC fuel supply hike could be India's gainopec oil supply hike India gain{#}Saudi Arabia;UAE;gulf countries;oil;Petrol;Diesel;JuneSat, 17 Jul 2021 20:41:00 GMTdiesel and petrol as global oil scenario is expected to change in a softer way in the coming days with oil cartel Organisation of Petroleum Exporting Countries (OPEC) reaching an agreement to increase production to meet the growing demand. The global surge in Covid cases have made the oil market uncertain which has the potential to erode demand quickly.

The Brent crude declined by 3 per cent and settled around $73 a barrel, wheras the US crude has fallen nearly 4 per cent to settle at $71 a barrel. The fall in this month has come after crude prices fell in the previous eight months as the world economy recovered from the pandemic.

According to sources, after the differences between two gulf nations saudi arabia and the uae cancelled a deal at OPEC on production cuts earlier, it has become increasingly clear that OPEC+ is about to close a deal that would be at better terms and allow the OPEC to boost output in the coming months.

Already the OPEC output in june has increased by 590,000 (british pound)bpd to 26.03 million bpd. In July, the output increased further and may keep increasing in next month. If this happens and cases of Covid Delta variant continue to rise globally, there will be added pressure on oil which can cause a fall from current price levels in coming months.


With this situation evolving, analysts are of the opinion that oil prices may fall below $70 barrel soon.





అమెజాన్ అదిరిపోయే ఆఫర్.. ఉచితంగా 10వేలు?

బాప్ రే బాప్...మంటల్లో టీడీపీ నేత‌ల‌ నిరసన.. !

జగన్ కు మరో పేరు పెట్టిన లోకేష్...?

బాబు ఆ విషయంలో ఎందుకు వెనుకబడ్డారు...!

హైదరాబాద్‌లో లీటర్‌ పెట్రోల్‌ ధర రూ.105.83, గుంటూరులో లీటర్‌ పెట్రోల్‌ రూ.108.6, డీజిల్‌ రూ.99.65, విజయవాడలో లీటర్‌ పెట్రోల్‌ రూ.107.86, డీజిల్‌ రూ.99.45

ఆ దేశంలో థర్డ్ వేవ్‌ జోరు.. గరిష్టస్థాయిలో మరణాలు..

నిరుద్యోగులకు తీపి కబురు.. భారీ ఎత్తున ఐటీ ఉద్యోగ నియామకాలు..!

రేవంత్ ప్లాన్ మామూలుగా లేదుగా....బాగానే సెట్ చేశారు?

విక్టరీ వెంకటేష్ గణేష్ అప్పట్లో ఎన్ని కోట్లు వసూళ్లని రాబట్టిందో తెలుసా..?



Source: India Herald - Shaik Abdul Sammad]]>