THE Organisation of the Petroleum Exporting Countries and its allies (Opec+) decision to lift crude oil output by 206,000 barrels per day (bpd) from April is probably the least consequential decision the group has made in nearly a decade of existence.

The rise in crude oil prices poses significant risks for India's economy and its oil marketing companies, particularly as OMC stocks decline amidst escalating Middle East tensions. A spike in Brent crude prices could lead to retail fuel price increases,

As a heavy fuel importer, Pakistan could see its current account deficit widen by $1.5–$2 billion for every $10 oil increase.

Experts explain why the military conflict in Iran could impact gas prices in Florida even though the U.S. doesn't import oil from that country.