OPEC+ agrees on oil output cut — MK. Bhadrakumar

Summary:
The message is loud and clear: Saudi Arabia and Russia who form the axis of the OPEC+ are closely coordinating on shaping the world oil market even as they could be competing for market share....Bad news for the West. India PunchlineOPEC+ agrees on oil output cutMK. Bhadrakumar | retired diplomat with the Indian Foreign Service and former ambassador. See alsoThe chances of a G7 price cap on Russian oil being remotely effective are perhaps best summed up by a recent tweet from a Bloomberg energy and commodities columnist: “My friends and I have agreed to impose a price cap on our local pub's beer. Mind we actually do not plan to drink any beer there. The pub's owner says he won't sell beer to anyone observing the cap, so other patrons, who drink a lot there, say they aren't joining the

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