🧵 1. The Reserve Bank of India retains its projection for Indian crude oil basket price at $85/bbl despite global supply cuts by OPEC, Saudi Arabia, and Russia #finance
🧵 1. The Reserve Bank of India retains its projection for Indian crude oil basket price at $85/bbl despite global supply cuts by OPEC, Saudi Arabia, and Russia #finance
🧵 2. Geopolitical tensions and demand-supply refinery mismatches contribute to the elevated wedge between global petroleum product prices and crude prices
🧵 3. Upside risks to global crude prices due to geopolitical hostilities and OPEC supply cuts could impact domestic inflation and growth
🧵 4. OPEC's next meeting on Nov 26 will determine if output cuts will be extended beyond December as market conditions are closely assessed
🧵 5. Improved supply from non-OPEC countries and easing of geopolitical tensions may lead to a pullback in crude oil prices, impacting inflation and growth
🧵 Read more at: https://www.financialexpress.com/market/commodities-h2-crude-price-retained-at-85bbl-despite-global-supply-cuts-3265346/