The drop has come despite a small output cut by the Organization of the Petroleum Exporting Countries (OPEC) and allies, together called OPEC+, Russia’s threat to cut oil flows to any country that backs a price cap on its crude, and a weaker outlook for U.S. oil production growth.
Diversion of stranded cargo to new markets under review
India is assessing the diversion of export cargoes stranded by the West Asia crisis to alternative markets. The commerce ministry is seeking details from goods
March 11, 2026