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45% of the energy consumption of India comes from this sector and India’s oil demand expected to grow at 8-8.5% in the recent future. The steep price of crude oil in the international market is a concern for the industry. Unprecedented sustained high demand, geopolitical uncertainties, production decline in ageing fields, supply concerns, speculative trading and weakening of US Dollar are the probable reasons for the raise in prices...
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Unprecedented sustained high demand, geopolitical uncertainties, production decline in ageing fields, supply concerns, speculative trading and weakening of US Dollar are the probable reasons for the raise in prices. In order to lessen the impact, the Government of India regulated the retail prices of products which led to severe under recoveries in the sales of these products to OMCs (Oil Marketing Companies)...
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