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Big Boost For Vijay: 4 Ex-AIADMK Ministers, 6 Former MLAs Join TVK

Amid deepening crisis, AIADMK suffers fresh blow as four former ministers, ex MLAs and over 300 cadres quit and join ruling TVK in Chennai, praising CM C Joseph Vijay

Iran war hobbles power to shape oil market

OPEC+ ministers meet Sunday to weigh higher production quotas in a bid to cap oil prices that have surged since the Iran war effectively choked off Gulf crude shipments.But even if the cartel members vow to ramp up output by thousands of barrels per day, analysts say geopolitical realities mean they probably won't move the needle on prices.Also read: OPEC+ leaders expected to up July oil output target despite Hormuz disruption, sources sayWith the crucial Strait of Hormuz shut since US and Israeli attacks on Iran in late February, oil prices have nearly doubled, igniting inflation pressures worldwide.Ministers from the 21 member states of OPEC+, the main oil producing nations and their allies, are holding their quarterly meeting online.The group is likely to beef up its production quotas by "188,000 barrels a day", said Jorge Leon, analyst at Rystad Energy, similar to recent increases. But in reality, only seven members -- Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman -- have the capacity to do so.Dwindling supply Tehran's threats of retaliatory attacks to US and Israeli strikes have virtually blocked the vital Strait of Hormuz, through which roughly a fifth of global oil and gas supplies normally pass.That is equivalent to about 20 million barrels a day. But with key Gulf producers shut out of the global market, pledges to raise output in a bid to ease spiralling prices are unlikely to sway traders. "Any announced production increases or changes to output targets will have limited practical value," said Ole Hansen, a commodities analyst at Saxo Bank."There is very little OPEC can do," he told AFP.OPEC+ itself says daily production has plummeted to just 33 million barrels a day as tankers remain stuck, compared to nearly 43 million before the conflict.A US blockade on Iranian ports means "it will be even less than that" in reality, said Homayoun Falakshahi, head of crude oil analysis at data firm Kpler.Also read: Oil prices fall on mounting hopes for de-escalation in US-Iran WarUAE slams the door The United Arab Emirates' recent decision to quit OPEC further saps away at the cartel's influence, given its huge excess production capacity.And Abu Dhabi has made clear it wants to boost output."They don't want to be dictated to, they want to maximise their revenues," said Lawrence Haar, a lecturer in finance at the University of Brighton in England. And the cartel risks seeing other countries follow the UAE's example."If Iraq were to leave, it could mark the end of OPEC+," Falakshahi said.Saudi Arabia, by far the cartel's most influential member, "is going to do what it takes to stop anyone else from leaving," Falakshahi predicted.That could translate into more flexible output quotas or decreased penalties for any excess production.But "for now, the compensation framework has effectively become irrelevant due to widespread production shut-ins," Hansen said.As a result, the Iran war has largely neutralised the cartel's stated mission "to secure an efficient, economic and regular supply of petroleum to consumers, and a steady income to producers". For Falakshahi, the only factor limiting further oil price spikes at the moment is China, "which is buying less oil than normal" by tapping into its vast strategic reserves.

Tax moves aim to boost government securities market, not just rupee

Eye On Global Bond Index Inclusion

J&K political storm after Mehbooba reviews AIIMS project

V.S. Achuthanandan’s Munnar task force member Suresh Kumar releases book

Nine booked for illegal quarry blast in Anekal

South Western Railway plans goods sheds along new lines to boost Karnataka’s regional economies

The initiative, being taken up by the South Western Railway, focuses on connecting production centres to markets

MVD steps up safety checks of student carriers in Ernakulam

Around 70 vehicles were booked for various violations during the first week after schools reopened on June 2

'Just a trailer': From Boomers to GenZ, CJP chief says people turned out in 'huge numbers'; key moments

The Cockroach Janata Party (CJP), an online movement, held its first major real-world protest at Delhi's Jantar Mantar. Supporters, including students and young professionals, gathered to demand accountability in examinations and oppose communal politics. The event marked a significant shift from online activism to on-ground mobilization.

Delhi Infra Body Extends Booking Deadline For Karkardooma Housing Scheme

The project has attracted attention primarily because of its pricing.

West Asia crisis makes notebooks dearer as schools reopen

The ongoing West Asia crisis, which has pushed up transportation and raw material costs, has led to an increase in notebook prices

Malkajgiri police book 46 cases against illegal spa centres after large-scale crackdown

D.K. Shivakumar with a Modi-style playbook?

Both the leaders have also paid attention to personal branding through distinctive attire and visual presentation

Bengaluru: Mother, her alleged live-in partner booked for murder of five-year-old girl

Raidurgam police book 35 social media accounts for promoting bike stunts and racing, 5 violators nabbed

13.5 Million Km, 80,000 Words: Shubhanshu Shukla Brings Space Down To Earth

For India's space programme, the book comes at a moment of rising ambition.

‘X-ray of the soil’ helps Gujarat farmers cut fertiliser use, boost yields

Officials say the Soil Health Card programme, under which more than 2.23 crore cards have been issued to farmers over the past two decades, is aimed at promoting balanced fertiliser use and improving soil fertility; farmers receive recommendations based on laboratory analysis of soil samples collected from their fields

Sanctions threat to India would ‘boomerang’ under PM Modi's leadership: Putin

“India always acts as a sovereign country, and under the leadership of Prime Minister Modi, any potential threats of sanctions would boomerang immediately,” Mr. Putin said

Centre praises Chhattisgarh's M-CAD initiative to boost irrigation efficiency

Chhattisgarh's efforts to enhance irrigation efficiency, improve water-use capacity, and maximise benefits for farmers have received national recognition

'US firms benefit from Hormuz closure': Russian oil company chief's big claim amid Iran war

Rosneft CEO Igor Sechin stated American energy firms are the primary beneficiaries of a Strait of Hormuz closure, warning of long-term damage to oil demand and a boost for alternatives. He also highlighted global resource shortages and questioned OPEC+'s effectiveness, noting Russia's production decline and need for investment.