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As oil races toward $100, India, US and Japan tell OPEC+ enough is enough

Behind closed doors, an intense campaign is being waged to persuade OPEC+ to speed up its output increases, according to multiple diplomats and industry insiders

Topics
OPEC output | OPEC | India

Javier Blas & Debjit Chakraborty | Bloomberg 



OPEC
So far, Saudi Arabia and others have refused to go quicker, arguing the monthly 400,000 barrel-a-day additions are enough to satisfy the appetite for oil in a global economy still nursing the wounds of the pandemic (Photo: Bloomberg)

For the past year, oil consuming countries have become increasingly anxious at crude’s resurgence: first to $50 a barrel, then $75 and now to more than $85. And when Vladimir Putin, one of the leaders of the OPEC+ cartel, warned that $100 a barrel was a distinct possibility, the alarm bells really started ringing.

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First Published: Sat, October 30 2021. 08:17 IST

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