Oil prices may spike on Aramco drone strikes, affecting Delhi’s import bill2 min read 15 Sep 2019, 10:22 PM IST
Saudi Arabia is the second largest supplier of crude and cooking gas to India
A sudden increase in global prices will affect India’s oil import bill and its trade deficit
India, the world’s third largest oil consumer, said it is keeping a close watch on the rapidly developing situation with drone strikes on the world’s biggest oil producer, Saudi Arabian Oil Co., or Saudi Aramco, disrupting around 5% of global oil supplies and further worsening tensions in the Persian Gulf.
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