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The National Oil Spills Detection and Response Agency (NOSDRA) said the fire broke out at two wells in Rivers state, in the Niger Delta. A boat suspected to have been engaging in theft of crude oil was burnt to ashes at the site.

The Organization of the Petroleum Exporting Countries and its allies, known as OPEC+, look set to cut output when they meet on Wednesday. The move would squeeze supply in an oil market that energy company executives and analysts say is already tight due to healthy demand, a lack of investment and supply problems.

Government spokesman Olivier Veran acknowledged "tensions" but said there was no shortage of fuel stocks at a national level. He urged consumers not to panic-buy petrol.

OPEC's de-facto leader Saudi Arabia said the cut of 2 million barrels per day (bpd) of output - equal to 2% of global supply - was necessary to respond to rising interest rates in the West and a weaker global economy.

Baaz Bikes, a EV manufacturing company, has introduced a new electric scooter along with a complete EV ecosystem for last-mile delivery riders.

The Delhi Transport body de-registered over 53 lakh vehicles between 2018 and October 2022. These vehicles had reached their respective end of life and as per norms, diesel vehicles have a 10-year age limit while petrol vehicles have a 15-year age limit in the national capital.

Prices also rose on U.S. government data that showed crude and fuel inventories fell last week.

India, also the world's third-biggest oil importer, ships in about 85% of its crude needs, but is gradually building capacity to increase its output of biofuels.