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.
Global energy markets face a significant shift as the United Arab Emirates announces its departure from OPEC and OPEC+ amid severe energy disruptions and a blockade at the Strait of Hormuz, challenging traditional oil production monopolies.
West Bengal enters the second and final phase of elections with 142 seats across seven districts, including Kolkata, Howrah, and South 24 Parganas.
Ahead of the Tamil Nadu election results, TVK chief Vijay visited the Tiruchendur Murugan and Shirdi Saibaba temples.
In Odisha’s Keonjhar district, a daily wage labourer carried his sister's skeletal remains to a rural bank to claim her savings after being denied access without a death certificate.
