Oil glut Current Affairs, GK & News
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