UAE-Saudi Arabia standoff may push up petrol prices in India Quartz 19 hrs ago © Provided by Quartz
Indians, reeling under the burden of high fuel prices, could be in for another jolt due to reasons that are mostly out of the country’s control.
A failure to resolve a rare standoff between the United Arab Emirates (UAE) and Saudi Arabia could push global crude oil prices up further.
The two Arab nations are in disagreement over a plan by the Organization of the Petroleum Exporting Countries (OPEC) that seeks to extend a cap on oil production. OPEC is an intergovernmental organisation of 13 oil-producing nations.
UAE suggests postponing decision on extending oil output agreement
devdiscourse.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from devdiscourse.com Daily Mail and Mail on Sunday newspapers.
Asian oil buyers fret over margin impact of cancelled OPEC+ meeting
reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.
Oil nears three-year high after OPEC fireworks
reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.