Categories: Blog

More crude likely in market soon as OPEC+ clears hike of 188,000 barrels per day for August

OPEC+ has approved an additional 188,000 barrels per day production increase for August, aiming to boost global crude availability and ease price pressures, particularly for importing nations like India. This move, part of a broader unwinding of production cuts, comes as global benchmark Brent crude nears pre-conflict levels. While oil firms anticipate breaking even on petrol and diesel soon, cooking gas sales continue to incur losses.

The News Vista

Share
Published by
The News Vista

Recent Posts

British Indian peer Lord Ranger wins right to judicial review of CBE annulment

Lord Rami Ranger has successfully challenged the decision to revoke his CBE by King Charles.…

2 hours ago

Astronomers find ‘phoenix planet’ born from ashes of a dying star

A team of astronomers has discovered a second-generation planet orbiting a white dwarf named HS…

2 hours ago

Jammu and Kashmir: Arms & drugs seized in cross-border smuggling case; 4 held

J&K Police arrested four suspects linked to cross-border drug and arms smuggling. The police seized…

2 hours ago

Moon samples reveal magnetic mineral never before seen naturally

A groundbreaking discovery by researchers has unveiled a new magnetic mineral, γ-Fe, found in lunar…

3 hours ago

Cabinet okays new body to bring roads, rail, ports, aviation under one planning framework

India's government has approved the creation of the Integrated Transport and Logistics Authority for better…

4 hours ago