Energy crisis Current Affairs, GK & News
IEA World Energy Outlook (WEO) 2022 report
Amid the global energy crisis caused by war in Ukraine, the World Energy Outlook 2022 report was released to provide insights into the implications of this global energy shock. What is WEO? The WEO is the world’s most comprehensive and authoritative assessment and projection of global energy sector. It is an annual report published by ..
Month: Current Affairs - October, 2022
Category: Reports & Indexes Current Affairs
Topics: Energy crisis • IEA • IEA report • Russia-Ukraine war • Ukraine war • World Energy Outlook
COVID-19: Fifth Recession of India
Since Independence in 1947, India has faced four recessions. According to Reserve Bank of India (RBI), the recessions occurred in 1958, 1966, 1973 and 1980. Highlights Recession is defined as the fall in economic activities of the country along with decline in sales, income and employment. India has so far seen four such negative GDP ..
Month: Current Affairs - June, 2020
Category: Economy & Banking Current Affairs - 2022
Topics: Balance of Payment crisis • Balance of Payments • Droughts • Economic growth • Energy crisis • GDP • OPEC • Recession
Oil prices hike by 5 percent
Oil prices have increased more than 5 percent after the OPEC and non-OPEC producers came together to put curbs on oil production and ease global saturation. The step is being seen as the first joint action between oil producing nations after 2001 after two years of low prices of oil which had put the budgets ..
Topics: Cartels • Chronology of world oil market events • Energy crises • Energy crisis • Oil glut • OPEC • Petroleum industry • Petroleum politics • Price of oil • Primary sector of the economy
Iran becomes top oil supplier to India
According to the shipping data, Iran overtook Saudi Arabia to become India’s top oil supplier in October. Generally, Iran used to be the second biggest oil supplier of India. But with Western sanctions over its nuclear development, its position was occupied by Iraq. Now, with the lifting of sanctions in January, India’s imports from Iran ..
Topics: Cartels • Chronology of world oil market events • Energy crisis • Nature • OPEC • Petroleum • Petroleum industry • Petroleum politics • Price of oil
Oil Ministers of OPEC to meet in Vienna
Oil Ministers of the 12 oil exporting group OPEC will meet in Vienna It is expected that the group will maintain the ceiling of 30 million barrels oil production per day for the member nations International Energy Agency based in Paris asserted in its report that the market is better supplied and it would be ..
Month: Current Affairs - June, 2012
Topics: Cartels • Chronology of world oil market events • Energy crisis • OPEC • petroleum • Petroleum Industry • Petroleum politics • Price of oil • Primary sector of the economy • World oil market chronology from