Standoff due to economic rivalry among oil-rich countries in the Middle East has ended. The stalemate between the UAE and Saudi Arabia was driving up the prices of crude oil. OPEC had restricted the output of crude oil by OPEC countries as the demand had decreased amid the pandemic. OPEC members reached a consensus to raise the output by 400,000 barrels per day each month from August. Watch the video to know more.
#OPEC #OilPrices #SaudiArabia #UAE
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