Currently, the world is going through a very critical phase politically and economically. While the tension between Ukraine-Russia and Iran-Israel has not decreased. On the other hand, the emphasis of American tariff is ready to catch up once again after July 9. Due to which the possibility of trade war has increased once again. Due to which, tax can also be increased with the disruption of globally spleen chain. In such a situation, there can be an increase in inflation.
Also, crude oil prices are likely to rise. In such a situation, 22 countries have emerged, which can become the messiah for the world. Especially these 22 countries can prove to be effective in protecting the world from inflation, that too at a time when both tariffs and war are facing a crisis on the global economy. Now the biggest question is which 22 countries are and what are going to do, which will not be less than a messiah for the world. Let us also tell you.
These 22 countries can become Messiah
In fact, OPEC Plus which is the organization of globally oil producers is no less than a messiah for the world. These are countries that have such pulse of global economy, by touching which they can either submerge many countries of the world, or can work to connect the broken spine. OPEC Plus, which includes 22 countries, will increase oil production rapidly than already planned oil production in August, eight major coalition members agreed to increase 548,000 barrel production per day. This decision has been taken in a virtual meeting.
This exceeds the increase of 411,000 barrels announced for May, June and July, already three times more than the initial plan. The traders had expected the same increase for August, which made the latest step even more fast. The organization of the Petroleum exporting countries and its partners, led by Saudi Arabia, have changed their stand by giving priority to market share on price control since April. The group has started reviving the pre -cut supplements, which is surprised by the traders.
How cheap oil has become
Brent crude futures have fallen by 8.5 per cent in 2025 so far in 2025 due to excess supply and demand between President Trump’s trade war and its impact on Global Economy. Nevertheless, the representatives said that the outlook of short -term demand is being seen very strong, especially in the summer of the Northern Hemisphere. The American refiner has been processing the most crude oil at this time since 2019, and diesel prices have risen.
Different reasons have been given for sudden change in strategy-from meeting the demand for fuel in summer to punish the members who produce more and get back the lost market share from American shell drills. Officials said Saudi Arabia is keen to resume the passive capacity quickly. The major increase in August has brought OPEC+ on the path of bringing the production of 2.2 million barrels back on daily, which is a full year before the original time limit.
Crude oil prices may be reduced
Additional barrels can please President Trump, who has insisted on reducing oil prices to support the American economy and wants Federal Reserve to cut interest rates. But due to this increase, there is also a danger of deteriorating the supply surplus. The oil reserves are growing about 1 million barrels per day due to the weakening of China and increasing production in the US, Guyana, Canada and Brazil. According to the International Energy Agency in Paris, there is a possibility of facing large surplus in the markets later this year. Banks such as JP Morgan and Goldman Sachs estimate that by the fourth quarter prices can be $ 60 per barrel or even less.
Challenges are also no less
Last month, there was a rise in prices during the conflict between Iran and Israel, but as it became clear that the oil supply has not been affected, prices fell again. Saudi Arabia is now facing a challenge to balance high export volumes with the impact of falling prices. The state is already struggling with increasing budget deficit and has had to cut the expenditure on the major projects of Crown Prince Mohammed bin Salman.
Meanwhile, Russia, the second important leader of OPEC Plus, is struggling with the threat of deteriorating economic outlook and banking crisis, as President Vladimir Putin continues to end war resources against Ukraine. Falling prices are also affecting American shell growers. A recent survey by American shell officials has shown that now they hope that they will dig very little wells from their plan in early 2025, as the oil prices are weak and uncertainty due to Trump’s tariff policies.
Inflation will be less
If crude oil prices decrease, then global inflation will be seen to decline. Along with this, the common people will also see a lot of relief. Due to which all the central banks of the world will get a big window to cut interest rates, for which the US President is very excited. According to experts, due to the fall in the prices of petrol and diesel, not only India, but the rest of the countries of the world can see a lot of relief. By the way, there was a decline in the prices of petrol and diesel in India about one and a half years ago. Then the government had cut the price of petrol and diesel by Rs 2 per liter.