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30Nov 2024

OPEC+: Balancing Global Oil Supply and Market Stability

Why in the news? Crude oil prices steadied after a rise in U.S. gasoline stockpiles and the postponement of an OPEC+ meeting, highlighting the alliance’s critical role in stabilizing global energy markets and influencing international economic trends. Overview of OPEC and OPEC+ : OPEC+ is a coalition of 22 oil-exporting countries formed in 2016 to …

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