Oil Producers Extend Supply Cuts Amid Slack Prices

04 Jun 2024 CW Team

Oil producers, led by Saudi Arabia, have decided to prolong supply cuts in the face of sluggish prices. This move comes as the oil market continues to grapple with the aftermath of the COVID-19 pandemic and its impact on global demand.

In an attempt to bolster oil prices and stabilise the market, major oil-producing nations, including Saudi Arabia, have agreed to extend supply cuts. The decision reflects ongoing efforts to address the imbalance between oil supply and demand, which has been exacerbated by the pandemic.

Saudi Arabia, the de facto leader of the OPEC+ alliance, has played a pivotal role in orchestrating supply adjustments to support oil prices. The kingdom's decision to prolong supply cuts underscores its commitment to maintaining stability in the oil market amidst prevailing uncertainties.

Other key players within the OPEC+ coalition have also reaffirmed their commitment to collective action in managing oil supply. This concerted effort highlights the importance of cooperation among oil-producing nations in addressing challenges facing the industry.

The extension of supply cuts comes at a critical juncture for the global oil market, as it grapples with evolving demand dynamics and geopolitical developments. Despite signs of recovery in oil demand, uncertainties surrounding the pace of economic recovery and the trajectory of the pandemic continue to influence market sentiment.

Infrastructure Transport

13 Oct 2025

Tata, Airbus to Build India’s First Private Helicopter Line

In a landmark development for India’s aerospace sector, Tata Advanced Systems Limited (TASL) and Airbus will establish the country’s first private-sector helicopter assembly line in Vemagal, Karnataka. The facility will manufacture the Airbus H125 and H125M, marking a significant milestone in India’s push for self-reliance in aviation and defence manufacturing. The new Final Assembly Line (FAL) will produce the H125, the world’s best-selling single-engine helicopter, known for its versatility and performance in extreme environments. The first ‘Made in India’ H125 is expected to ro..

NeGD to Support Bharat Taxi in Building Cooperative Ride Platform

In a significant move for India’s digital and mobility transformation, the National e-Governance Division (NeGD) of the Digital India Corporation, under the Ministry of Electronics and Information Technology (MeitY), has entered into an advisory partnership with Sahakar Taxi Cooperative Limited, the company behind Bharat Taxi — a first-of-its-kind, cooperative-led national ride-hailing platform. A Memorandum of Understanding (MoU) has been signed between NeGD and Sahakar Taxi to provide strategic advisory and technical support covering key areas such as platform integration, cybersecurity..

MeitY Hosts Pre-Summit for India–AI Impact Summit 2026

The Ministry of Electronics and Information Technology (MeitY), Government of India, hosted a series of Pre-Summit events for the upcoming India–AI Impact Summit 2026 at the India Mobile Congress (IMC) 2025 in New Delhi. These sessions mark a key milestone ahead of the main summit, scheduled for 19–20 February 2026 at Bharat Mandapam, New Delhi. Delivering the inaugural address, S. Krishnan, Secretary, MeitY, highlighted India’s innovative and frugal approach to AI development. “We have adopted innovative means by learning from others’ experiences to build projects and products that..