Topics Covered: Important International institutions, agencies and fora, their structure, mandate. What is the Opec+? Context: Russia expects to support an increase in oil production by OPEC+, of another 500,000 barrels per day (bpd) from February at next month’s summit of the leading global oil producers. Background: Russia, other leading oil producers and the Organization …
Topics Covered: Important International institutions, agencies and fora, their structure, mandate. What is the Opec+? Context: After news of a highly effective Pfizer vaccine against Covid-19 and Saudi Arabia’s assurance that an OPEC+ oil output deal could be adjusted to balance the market, Oil prices have jumped. What is the Opec+? Opec+ refers to the …
Topics Covered: Important International institutions, agencies and fora, their structure, mandate. What is the Opec+? What to study? For Prelims: What is OPEC, OPEC+? For Mains: Oil crisis, reasons for fall in demand and the crisis, impact on other countries, way ahead. Context: Saudi Arabia, the world’s top oil exporter, plans to raise its crude …
