Though there are indications of hardening crude oil prices and supply chain bottlenecks, India's strong performance stands out even as global growth shows a "sluggish" trend, the ministry says
State-owned oil marketing companies bore the brunt of high oil prices and suppressed marketing margins in FY23. Cheap Russian supply and softer crude oil prices may change the script in FY24.
An unprecedented surge in new liquefied natural gas (LNG) projects coming online from 2025 is set to add more than 250 billion cubic metres (BCM) per year of new capacity by 2030
According to the rating agency, the ongoing conflict in the Middle East, confined mainly to the Gaza region now, has caused only negligible disruption in India's trade so far.
Union oil minister says such uncertainties only encourage people to look for alternate sustainable ways
High crude oil prices will weaken the profitability of the three state-owned oil marketing companies in India, says Moody's.
These production cuts have been made despite growing energy demand, says Hardeep Singh Puri.
The market capitalisation of BSE-listed firms hit an all-time high of ₹296.04 lakh crore, breaching its previous high of ₹294.36 touched on June 21.
It may be noted that the WPI based inflation in May 2023 contracted 3.48% year-on-year compared with 0.92% contraction in April 2023.
Despite a steady fall in global crude oil prices, fuel prices have not reduced for retail customers in India since last year
