Why higher crude oil prices are more problematic for India now3 min read . Updated: 23 Sep 2019, 07:10 AM IST
- India is vulnerable to sharp crude price increases as it imports most of its oil requirements
- Every $10 per barrel increase in crude price leads to a $12-14 billion rise in current account deficit annually
The rebound in oil prices was swift last week. However, it must be said that Brent crude prices at about $65 per barrel are still 7% higher than on 13 September, the day before Saudi Arabia’s oil infrastructure facilities were attacked.
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