UAE to exit OPEC, OPEC+ amid West Asia conflict: How can world tackle the oil shock?

The United Arab Emirates has announced its decision to leave the Organisation of the Petroleum Exporting Countries from the first of May amidst ongoing tensions in West Asia. This development has sparked concerns about a severe global energy crisis, with oil prices crossing one hundred and ten dollars a barrel and gasoline prices in the United States reaching a four-year high. The reduced movement of oil through the Strait of Hormuz has significantly impacted global supply chains. India, the third-largest consumer and second-largest importer of oil, faces substantial economic challenges. While Indian oil companies have diversified their imports across forty-one geographies, including increased intake of Russian crude, the rising global prices threaten to increase the fuel burden on consumers. So, how can world tackle the oil shock? Watch as experts share their views on this and more on the show.