![Saudi-UAE Compromise Deal will Boost the Oil Production](https://d1tlrxy0mfxnyo.cloudfront.net/thumbnail/366402/7b81b915-74d3-eaa9-b962-1595007d9a04.jpg?width=649)
Oil production was decreased with the ongoing breeze between Saudi and UAE. This caused sharp hike in the fuel rates. But now, OPEC and allied nations are agreed to boost the oil production gradually.
The 15 days dispute between two countries is finally compromised with Riyadh meeting to halfway demands form Abu Dhabi. This will boost the oil output 4,00,000 barrels per day. UAE’s quantity was raised to 3.5 million barrels per day. Though it is less than what UAE had demanded but is more than the previous baseline of 3.17 million.
The tensions were raised considering the dispute but the agreement between both the countries relieved the world. The possibility of inflationary oil price hike is minimized with this deal and oil prices may decrease soon.
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India is the second-largest producer of cement around the world says independent research.
No wonder, the Indian cement industry has attracted huge investors, both from Indian as well as the foreign experts.India has a lot of potential for developing the infrastructure and construction sector and the cement sector is expected to largely benefit from it.
Due to some of the recent major initiatives such as the development of smart cities, it is expected to provide a major boost to the sector.Top business magazine, Insights Success also covered the cement industry analysis in their digital magazine.Recently, several foreign players have invested in the country & expected to be the contributor to major developments in the country aided by suitable government foreign initiatives.
Its consumption is expected to grow by five percent in the financial year of 2019 supported by a pick-up in the housing segment and higher infrastructure spending.
Currently, the industry is planning to produce three hundred megatons in order to meet its domestic demand and five megatons for exports requirement.The Indian cement industry is currently dominated by certain companies.
With four hundred small plants accounting for the rest, a total of two hundred large cement plants account for a cumulative installed capacity of over four hundred million tonnes.
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