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at $76.43 a barrel, indian basket of crude oil rises highest since dec 2014

at $76.43 a barrel, indian basket of crude oil rises highest since dec 2014 Article News With Simple Text and Web Resource Link. For View Full Content Click on Source Link on Then Bottom Of News.



at $76.43 a barrel, indian basket of crude oil rises highest since dec 2014

on a day when the indian basket of crude oil touched its three-and-a-half year high of $76.31 a barrel, the international energy agency (iea) said in a report that following a growth of 125 kilo barrels per day in 2017, india will see an acceleration in oil demand to 300 kb/d in 2018. this is despite a drop in global demand for oil. on wednesday, the indian basket price touched its highest point since december 1, 2014, when it was seen at $76.43 a barrel. however, since the rupee value against dollar is much depreciated since then, the impact on india's trade balance would be higher. the rupee is at 67.53 a dollar currently against rs 61.80 on december 1, 2014. however, india could expect some moderation in global prices if the global demand...