దెబ్బతింటున్న గల్ఫ్ దేశాలు, భారత్ కు తలనొప్పి ఎందుకు? || Gulf Economies Fall, Challenge For India ||
The region, especially Iran, has been mauled and the figures are yet to peak. It has put nearly a third of the world’s population under some form of lockdown curbing the consumption of hydrocarbons, the mainstay of Gulf economies. A Goldman Sachs report published on March 30 estimated that the world crude consumption lowered by 28 million bpd. The consequent oil glut began depressing the price. The Organization of the Petroleum Exporting Countries and other crude producers (OPEC+), however, failed to reach a production-curtailing strategy as Saudi Arabia and Russia, the cartel’s two biggest producers, held different views. As a result, OPEC+ unravelled with each producer chasing a higher share in a collapsing market.
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దెబ్బతింటున్న గల్ఫ్ దేశాలు, భారత్ కు తలనొప్పి ఎందుకు? || Gulf Economies Fall, Challenge For India || The region, especially Iran, has been mauled and the figures are yet to peak. It has put nearly a third of the world’s population under some form of lockdown curbing the consumption of hydrocarbons, the mainstay of Gulf economies. A Goldman Sachs report published on March 30 estimated that the world crude consumption lowered by 28 million bpd. The consequent oil glut began depressing the price. The Organization of the Petroleum Exporting Countries and other crude producers (OPEC+), however, failed to reach a production-curtailing strategy as Saudi Arabia and Russia, the cartel’s two biggest producers, held different views. As a result, OPEC+ unravelled with each producer chasing a higher share in a collapsing market.
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