Interviews
Meltdown in crude prices may save $17 bn, ASSOCHAM
01 Sep '08
4 min read
Strengthening US dollar has also played its role in cooling down the crude price. The greenback has appreciated by as much as 6 per cent versus Euro in the last three months.
The average Indian basket price of crude oil, comprising Oman-Dubai sour (high sulphur) grade crude and Brent dated sweet (low sulphur) crude in 61.4 : 38.6 ratio, was USD 119 per barrel for the first quarter of the fiscal 2008-09.
However, for the coming quarters in view of the demand-supply dynamics, the Indian basket price is set for a big downfall.
Click here to view oil demand for India (in million barrels per day):
IEA has also trimmed the projected growth in global oil demand from 2.3 per cent in January 2008 to just 1 per cent by July 2008.
The US Energy Information Administration has projected the global demand and supply of oil.
The world oil supply is estimated to be slightly higher than demand for the first three quarters of 2008 hence the prices are expected to cool down further right till the end of 2008.
The average Indian basket price of crude oil, comprising Oman-Dubai sour (high sulphur) grade crude and Brent dated sweet (low sulphur) crude in 61.4 : 38.6 ratio, was USD 119 per barrel for the first quarter of the fiscal 2008-09.
However, for the coming quarters in view of the demand-supply dynamics, the Indian basket price is set for a big downfall.
Click here to view oil demand for India (in million barrels per day):
IEA has also trimmed the projected growth in global oil demand from 2.3 per cent in January 2008 to just 1 per cent by July 2008.
The US Energy Information Administration has projected the global demand and supply of oil.
The world oil supply is estimated to be slightly higher than demand for the first three quarters of 2008 hence the prices are expected to cool down further right till the end of 2008.
The Associated Chambers of Commerce and Industry of India
Popular News
Leave your Comments
Editor’s Pick
Jason Kent
British Textile Machinery Association (BTMA)
Charath Narasimhan
Indian Terrain Fashions Ltd
Esteemed Clients
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Taiwan Textile Federation (TTF)")
