Oil prices rise ahead of key OPEC meet: 5 things to know1 min read 05 Sep 2022, 02:14 PM IST
India, the world's third largest importer of oil, benefits from a fall in prices as it brings down imported inflation.
Global oil prices were higher today ahead of OPEC+ meeting later in the day. Oil prices rose more than $2 a barrel to $95.44 a barrel, extending Friday's gains. Analysts are divided whether the Organization of the Petroleum Exporting Countries (OPEC) and its allies, a group known as OPEC+, may decide to keep current output levels or even cut production to bolster prices, despite supplies remaining tight. India, the world's third largest importer of oil, benefits from a fall in prices as it brings down imported inflation.
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