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Should India worry about prices after OPEC+ cuts daily oil output? HT Insight

Published on Oct 07, 2022 10:08 AM IST

In a big snub to the United States, the OPEC+ decided to cut output targets by 2 million barrels a day as it seeks to halt a slide in oil prices caused by the weakening global economy -- the biggest reduction by the Organisation of Petroleum Exporting Countries and its allies since 2020. The move has angered the Biden administration and has stoked fears of further increase in global oil prices. In India, there are apprehensions that the fuel prices could go up again as the country relies on oil imports. Hindustan Times Editor-in-Chief, Sukumar Ranganathan, decodes the impact of the OPEC+ decision on India and what lies ahead in this episode of HT Insight with Senior Editor, Aditi Prasad.

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