Sahil Talks

  Saudi Arabia has always been famous for their oil reserves, knowing the increasing requirement of oil they always tried to fulfill the demand around the globe and in that direction in September 1960 OPEC  (Organization of the petroleum exporting countries) was formed which included countries having high oil reserves, later on in 2016 OPEC +  was formed which included top non-OPEC oil-exporting countries. OPEC+ controls more than 50% of global oil supplies and about 90 % of proven oil reserves and with that much of powers in their hands and surely dominate global economies and they do dominate by increasing their oil prices several times after covid pandemic in the first meeting itself all the OPEC+ agreed to cutoff the oil production 2 million barrels per day with the motive to create scarcity in market and gain maximum benefit from their reserves. The reason that this decision was criticized was that after the pandemic most of the global economies were facing difficu...