Price of oil Current Affairs, GK & News

Tamil Nadu -First state to cut petrol price by Rs. 3/litre

Tamil Nadu has become the first state in India to cut the petrol price in fiscal year 2021-22 by Rs 3/litre, providing a major relief to consumers. Key Points Price cut was announced by State Finance Minister Palanivel Thiagarajan during his budget speech on August 13 and it came into effect from August 14. It ..

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Emerging economies more vulnerable to big oil price moves: Nomura report

The Japanese financial services major Nomura has analysed the impact of the twin drone attacks which targeted Abqaiq, the site of the largest oil processing plant run by the Saudi state oil company, Aramco, and the Khurais oilfield. The attacks wiped out more than half of Saudi Arabia’s crude supply. The attack has surged the ..

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Joint Comprehensive Plan of Action

Joint Comprehensive Plan of Action or JCPOA is an agreement of China, France, Germany, Russia, the UK, the US and the European Union (EU) with Iran signed in 2015. Features of the pact: As per the agreement, Iran agreed to make certain changes to its nuclear programme to ensure it does not threaten the regional stability. In ..

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CPI Inflation eases to two-year low

The annual Consumer Price Index has cooled-off to two-year low of 3.63%, its lowest level in last 2 years. This has been brought about by the sharp fall in food prices. The figure for October was 4.2%. This is the first macro data to be released by the government after demonetisation was implemented more than ..

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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 ..

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