On 5 October 2022, the Organisation of the Petroleum Exporting Countries and its allies, including Russia, agreed to reduce oil production by 2 million barrels. This could have serious consequences for economies around the world, including the US, UK and India.
How Saudi Arabia and Russia are planning to undermine the U.S. and the U.K.?
According to this footage, Russian soldiers abandoned a comrade who had been hit by Ukrainian munitions. The footage, apparently taken by a drone, shows four Russian soldiers walking across a field when one of them suddenly is hit by a bomb that appears to have been dropped by a drone. In a shocking moment, Russian…
Now, given the fact that both the US and the UK are already on the brink of recession, this rise in oil prices could exacerbate their situation to the point of disaster. So the US is passing a bill called NOPEC in response!
The UK government is implementing something called a price cap strategy! ! So, in short, Russia, the Middle East and the West are currently engaged in an oil war that could decide the fate of the world economy in 2023! So the question is, Who the hell is OPEC and why are they cutting oil production?
What is this NOPEC law about? What is the UK price cap strategy? Most importantly, how will this oil war affect India and the world in the coming year?