OPEC Plus countries that includes Saudi Arabia and Russia has announced surprise cuts in oil production. They have announced output cuts of by more than 1.2 million barrels of crude per day in an apparent effort to increase prices. Subsequent to the announcement of oil production cut by OPEC+ Oil prices have surged and surpassed USD 85 per barrel. Both the American and global oil benchmark prices have risen by 7 percent.
In this video of the Big News, we will be discussing what exactly is OPEC+ and the implications of its decision.
Why has OPEC plus announced Oil Production cuts? What is OPEC? What is OPEC Plus? Will Oil Prices see a surge due to production cuts by OPEC plus? for answers to these questions and much more watch the full video. Understand various current affairs topics, strictly from the perspective of the UPSC Civil Services Examination, subscribe to our YouTube Channel Now!!!
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12 Comments
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Can u pls provide pdf of your videos byjus
Thanks harsmeet sir 🙏🏿
👍
Thank u sir🙏
Good Evening sir OPEC Website shows 13 members rather than 14 ??? which we need to mark if a question arises. kindly Help.
Thank you so much for the amazing session as always sir..!!
Harsmeet sir is the best at byjus
Thank you sir🙏❤️❤️
Thank you sir
USA is a self-sufficient in oil production, that is correct. But the oil that it holds in its reserves is bought outside. That is where the problem lies.
Thank you byjus