Tag: ’OPEC+ begins meetings that may seal more output cuts’


Important Days World Environment Day – June 5 World Environment Day is observed on June 5. The United Nations General Assembly founded World Environment Day in 1972 to increase public awareness of environmental challenges and encourage action. The Theme for 2023 is “Solutions to plastic pollution.” World Organizations ’OPEC+ begins meetings that may seal more output cuts’ OPEC and its allies began two days of meetings that may culminate in further output cuts of as much as 1 million barrels per day. OPEC+, which groups the Organization of the Petroleum Exporting Countries and allies led by Russia, pumps about 40% of global crude, meaning its policy decisions can have a major impact on oil prices. Meeting of the alliance at OPEC headquarters in Vienna. The rest of the OPEC+ producers agreed to extend earlier production cuts through the end of 2024. OPEC+ was formed in 2016 to have more control on the global crude oil market. Number of OPEC+ Countries - 23 (13 OPEC members and 10 of the world's major non-OPEC oil-exporting nations). Background The Organization of the Petroleum Exporting Countries (OPEC) is a permanent, intergovernmental Organization, created at the Baghdad Conference in 1960, by Iran, Iraq, Kuwait, Saudi Arabia and Venezuela  Appointments Three-member panel to probe ethnic violence in Manipur The Union government appointed a three-member Commission of Inquiry headed by Ajai Lamba, former Chief Justice of the Gauhati High Court, to investigate the ethnic violence in Manipur  The other two members of the commission are Hi-manshu Shekhar Das, re-tired IAS officer, Aloka Prabhakar, retired IPS officer.  A notification issued by the Union Home Ministry “Commission shall submit its report to the Central Government as soon as possible but not later than six months from the date of its first sitting”. Its headquarters will be in Imphal.