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Price war sends crude tumbling, but turmoil to India’s advantage
March 9, 2020 | By Livemint.com
business
Crude oil crashed more than 30% even as the IEA revised lower global demand for the first time since 2009.Every dollar per barrel drop in crude prices reduces India’s oil import bill by ₹10,700 crore on annualized basis
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New Delhi: Crude oil crashed more than 30% on Monday in the sharpest plunge since the 1991 Gulf War after the collapse of the Opec+ alliance talks triggered a bloody price war, with both Russia and Saudi Arabia set to flood the market with cheap oil.Indian ma
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