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No impact of Opec cut on India, say experts

A global crude oil price of $50-55 a barrel is comfortable for India

Shine Jacob  |  New Delhi 

The decision by the Organization of the Petroleum Exporting Countries' (Opec) to cut crude oil production by 1.2 million barrels per day (mbpd) is unlikely to have an impact on India's crude oil subsidy figures, say experts. One of the largest importers of crude in the world, India has benefited highly from the low price regime. An Opec output cut might raise prices and, therefore, subsidies, is the worry. However, experts say, a global crude oil price of $50-55 a barrel is comfortable for India. It is believed that prices are unlikely to climb above this. "With ...

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No impact of Opec cut on India, say experts

A global crude oil price of $50-55 a barrel is comfortable for India

A global crude oil price of $50-55 a barrel is comfortable for India The decision by the Organization of the Petroleum Exporting Countries' (Opec) to cut crude oil production by 1.2 million barrels per day (mbpd) is unlikely to have an impact on India's crude oil subsidy figures, say experts. One of the largest importers of crude in the world, India has benefited highly from the low price regime. An Opec output cut might raise prices and, therefore, subsidies, is the worry. However, experts say, a global crude oil price of $50-55 a barrel is comfortable for India. It is believed that prices are unlikely to climb above this. "With ... image
Business Standard
177 22

No impact of Opec cut on India, say experts

A global crude oil price of $50-55 a barrel is comfortable for India

The decision by the Organization of the Petroleum Exporting Countries' (Opec) to cut crude oil production by 1.2 million barrels per day (mbpd) is unlikely to have an impact on India's crude oil subsidy figures, say experts. One of the largest importers of crude in the world, India has benefited highly from the low price regime. An Opec output cut might raise prices and, therefore, subsidies, is the worry. However, experts say, a global crude oil price of $50-55 a barrel is comfortable for India. It is believed that prices are unlikely to climb above this. "With ...

image
Business Standard
177 22