The rise in international oil prices, especially Brent crude oil has reportedly reached Rs. 69.39 per litre on Monday, which has gone up by 36% since 2015. India reportedly imports 82% of its oil requirements, of which 28% is Brent crude oil. This revision in international prices is set to increase the fuel prices in India unless there are price cuts by the government, state or oil companies. Reports suggest that, following the arrest of princes and billionaires in an anti-corruption drive by Saudi Arabia’s crown prince Mohammed Bin Salman, the news caused concerns that Middle Eastern money might be pulled out of global markets and the oil prices reached the highest since 2015.
OTHER NEWS SHOTS
Read More News Stories