Will the political turmoil in strategic Afghanistan affect global crude oil prices? No answer yet.
For those of you who don’t know, political infighting in Afghanistan, which is not a major oil producer or a major consumer country, does not seem to affect world oil prices.
But the effects of such confusion and uncertainty could easily spill over into the region, including in Iran and other major oil producers in the world, such as Saudi Arabia and the United Arab Emirates. Saudi Arabia is the world’s second-largest oil producer, exporting 59 percent of its crude oil.
It will affect oil prices in Afghanistan soon, especially if the Taliban return to their old ways and allow hydrocarbon-rich Muslims from the Middle East, North Africa and Central Asia to open temples, ”said energy expert Narendra Tanya Twitter.
“If they change, they will not become Taliban,” he said.
Taneja told the Indian narrative that if the violence was limited to the Afghan border, the impact would be limited. But if Afghanistan continues to heat up and intensify, oil production in the Middle East and Central Asia could suffer, and as a result, oil prices could suffer.
“Tensions in the Middle East have the potential to raise prices,” said Dow Jones and company Barons. Earlier, JP Morgan had predicted that oil prices could rise and that barrels of demand could reach $ 80 a barrel.
In an interview with Baron, OPEC (Petroleum Exporting Countries) 2.0, head of geopolitical strategy Matt Gertken, presenter of the International Investment Strategy (BCA Researchï¿½a), said: . “The Barons’ group does not want prices to rise too much, which will accelerate global green efforts. The most likely outcome is an increase in volatility in oil prices,” Barron said.
Brent crude hit $ 66.74 a barrel on Tuesday. A.D. World oil prices have risen sharply in the hope of 2021. Major oil producers have also stopped supplying.
Global inflation has a direct impact on the Indian economy. This could be even more difficult at this time, as the country, which imports more than 80 percent of its total raw materials, is still struggling with the effects of the Covide 19 epidemic.
House prices of gasoline and diesel are already high. Meanwhile, India has begun to expand its oil import market to reduce dependence on exports. Countries such as the United States and Nigeria have become suppliers of raw materials to India.
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