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UAE Exit Forces India to Rethink Energy Alliances Syllabus: GS-2: India and its Neighbourhood, Indian Diaspora GS-3: Liberalization, Mobilization of Resources Why in the News ? The recent decision of the OPEC member United Arab Emirates (UAE) to exit the cartel after nearly six decades signals structural shifts in global oil geopolitics. It raises …
Read MoreU.S. Sanctions on Russian Oil Impact Indian Imports Why in the News? The United States has imposed sanctions on Russia’s leading oil firms, Rosneft and Lukoil, for allegedly funding the Kremlin’s war in Ukraine. This move reflects the complexities of global governance in a multipolar world, where economic sanctions are increasingly used as tools of …
Read MoreWhy in the news? OPEC+ extended deep oil output cuts, totaling 5.86 million barrels per day, into 2025 to stabilize the market amidst tepid demand growth and high interest rates. The decision aims to address concerns over low oil prices, driven by slow demand in China and rising oil stocks in developed economies. About OPEC+: …
Read MoreWhy in the news? Iran-Israel conflict escalation raises concerns over oil prices, supply disruptions; India’s heavy import dependence amplifies economic impact. source:scribd About the Geopolitical Impact on Oil Trade: Escalation in Iran-Israel conflict may elevate crude oil prices due to increased risk premiums and concerns over supply disruptions in West Asia. India, as the world’s …
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