Falling back on reserves to tilt the scales
The Hindu
Will the move to exert pressure on the powerful OPEC+ oil producers, that turned down suggestions to enhance output, pay off or prove counter-productive?
India on November 23 announced that it will release 5 million barrels of crude oil from strategic petroleum reserves (SPR) or the stockpiles. This is part of a coordinated approach mooted by the U.S. and other major oil consumers after the oil-producing OPEC+ bloc waved off suggestions to boost the output for a calming effect on the prices. At the heart of this are the petroleum product prices that have been rising steadily for months now, and which threaten to throw a spanner in the post-pandemic economic recovery process.
According to BACL, the biophilic-inspired business park will offer smart workspaces within a vibrant public realm. The project’s most exceptional and breathtaking attribute lies in the Urban Forest, a lush oasis in the centre of the development. This green space will serve as a focal point, seamlessly blending indoor and outdoor spaces throughout the area. The upcoming metro station in Airport City will provide seamless connectivity to the business park from the northern side, ensuring convenient accessibility.