Iran Oil  

Hello and welcome to this episode of DePress Room, my name is Amal Chowdhury and today we will be talking about how Asia will handle oil price swings after the warlike situations between Iran and the US. An attack in the Middle East. Oil prices surge as investors fear supply disruptions. Once it becomes clear that those disruptions are not materialising, traders calm down and so do oil prices. Life on the global markets returns to business as usual.

Saudi Energy Minister Khalid al-Falih said on Monday the OPEC countries agreed there was a need to cut oil supply next year by around 1 million barrels per day ( bpd ) from October levels 

Sources said that PM Modi will meet the chief executives of major global and Indian oil and gas companies as the US sanctions on Iran comes into effect from November 4, and as crude oil prices continue to be volatile.