International

Iran. OPEC’s third-largest producer. was against the agreement at first since the country is facing export-crippling US sanctions.

The 14-nation OPEC cartel and its 10 non-member partner nations. known as OPEC+. together account for more than 50 percent of the world'.s oil supply.

Pradhan said India will raise the issue of the recent fuel price hike at the OPEC meeting.

An oil production shortfall in Iran and Venezuela has changed the scenario for the two countries and members of the oil cartel.

There’s lots of concern that the increased cost in pipe will increase the costs for oil.

In the currency market. the U.S. dollar is trading in the mid 110 yen-range on Monday.

OPEC members. including Saudi Arabia. and other oil producers will meet in Vienna this week.

IEA forecasts that Venezuela’s oil production could drop to Just 800.000 bpd or even lower next year.

OPEC operates on consensus. and the production limits have always depended on voluntary compliance.

Trump unveiled a 25 percent tariff on a list of strategically important imports from China. including cars. promising further measures if Beijing struck back.