{"id":120470,"date":"2021-07-22T18:52:36","date_gmt":"2021-07-22T13:22:36","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=120470"},"modified":"2021-07-22T20:53:42","modified_gmt":"2021-07-22T15:23:42","slug":"a-compromise-amid-uncertainty","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/a-compromise-amid-uncertainty\/","title":{"rendered":"A compromise amid uncertainty"},"content":{"rendered":"<p><strong>Source:<\/strong> <a href=\"https:\/\/epaper.thehindu.com\/Home\/ShareArticle?OrgId=G5B8PRNQH.1&amp;imageview=0\">The Hindu<\/a><\/p>\n<p><strong>Relevance<\/strong>: Developments of OPEC are important for India due to its dependency on oil.<\/p>\n<p><strong>Synopsis<\/strong>: The OPEC deal to step up crude production will ease rising prices and balance domestic and global priorities.<\/p>\n<h5><strong>Background<\/strong><\/h5>\n<ul>\n<li>OPEC+ will now step up crude production by 400,000 barrels a day starting in August. The deal will extend until the end of 2022.<\/li>\n<li>Thus, while the internal rift has been resolved, for now, the danger cannot be ruled out in the future given the increasingly economically and politically assertive UAE.<\/li>\n<\/ul>\n<p><strong>Read more<\/strong> &#8211; <a href=\"https:\/\/forumias.com\/blog\/how-opec-deal-to-withdraw-output-cut-impacts-india\/\">How OPEC+ deal to withdraw output cut impacts India<\/a><\/p>\n<h5><strong>Significance of increasing oil production by OPEC+ countries<\/strong><\/h5>\n<ul>\n<li>The latest OPEC compromise echoes growing recognition of the delicate balance between competing domestic and global priorities.<\/li>\n<li>It will also help OPEC+ countries to maximize the returns on their substantial hydrocarbon resources, amid growing speculation of a peak in oil demand within sight.<\/li>\n<\/ul>\n<h5><strong>Concerns for OPEC bloc<\/strong><\/h5>\n<ul>\n<li>Strict implementation of <strong>the Paris climate accord<\/strong> could result in oil demand to peak by 2030, owing to the proliferation of alternative fuels and electric cars.<\/li>\n<li>Diversification of economies in anticipation of the unfolding global energy transition.<\/li>\n<li>OPEC\u2019s other concerns are the stabilization of world oil prices without jeopardizing national expenditure programs.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Source: The Hindu Relevance: Developments of OPEC are important for India due to its dependency on oil. Synopsis: The OPEC deal to step up crude production will ease rising prices and balance domestic and global priorities. Background OPEC+ will now step up crude production by 400,000 barrels a day starting in August. The deal will&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/a-compromise-amid-uncertainty\/\">Continue reading <span class=\"screen-reader-text\">A compromise amid uncertainty<\/span><\/a><\/p>\n","protected":false},"author":10316,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1230,9],"tags":[8554,212],"class_list":["post-120470","post","type-post","status-publish","format-standard","hentry","category-9-pm-daily-articles","category-public","tag-a-compromise-amid-uncertainty","tag-gs-paper-2","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":"","cached_date":1704716786},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/120470","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10316"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=120470"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/120470\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=120470"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=120470"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=120470"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}