 | Crude prices touch 10-month high of USD 94 per barrelAccording to analysts, crude oil prices could even touch $100 a barrel in the next few weeks. Crude oil was trading at $82 a barrel (bbl) in January, after falling to $70 a bbl in June. |
 | August merchandise trade deficit widens to USD 24 billionOverall, exports in August 2023 stood at $60.87 billion as against $63.52 billion in the same month previous year. |
 | OPEC+ output cut may create crude supply shortfall in Q4The supply cut by Saudi Arabia and Russia is being compensated by the supply from non-OPEC countries such as the US, Iran and Brazil. |
 | Oil prices spike as Saudi, Russia extend 1.3 million barrel a day oil cut through DecemberThe countries' moves could increase inflation and the cost for motorists at gasoline pumps. Saudi Arabia said it will continue to monitor the market and could take further action if necessary. |
 | More BRICS in the wall bolsters a multi-polar worldPerhaps the largest beneficiary will be the heavily sanctioned Iran, which can now access BRICS markets. Many are already speaking of a BRICS + OPEC alliance. |
 | Saudi Arabia extends cut of 1 million barrels of oil a day, potentially boosting prices at the pumpThis year's record-breaking summer heat has also had an impact, driving up demand for air conditioning and forcing refineries to operate at reduced capacity. |
 | Saudi Arabia announces fresh output cut to boost oil priceAnalysts had largely expected OPEC+ producers to maintain their current policy, but signs emerged this weekend that the 23 countries may make deeper cuts. |
