CRUDE CALCULUS

THE RECENT SOFTENING OF GLOBAL CRUDE OIL PRICES IS EXPECTED TO NARROW INDIA’S TRADE DEFICIT, OF WHICH OIL ACCOUNTED FOR 42.5 PER CENT (OR RS 9 LAKH CRORE) IN FY23. A LOOK AT THE KEY NUMBERS

A Bharat Petroleum Corporation oil refinery in Mumbai’s Mahul

SUMMARY

39 PER CENT: The decline in Brent crude oil prices in the past year—from $122.7 a barrel in June 2022 to $75.1 in June 2023
222.3 MILLION TONNES: The total consumption of petroleum products in the country in FY23, up 10 per cent from 201.7 million tonnes in FY22
RS 16.8 LAKH CRORE: The value of imported crude and petroleum products in FY23, which is 29 per cent of India’s total imports of Rs 57.3 lakh crore

THE RECENT SOFTENING OF GLOBAL CRUDE OIL PRICES IS EXPECTED TO NARROW INDIA’S TRADE DEFICIT, OF WHICH OIL ACCOUNTED FOR 42.5 PER CENT (OR RS 9 LAKH CRORE) IN FY23. A LOOK AT THE KEY NUMBERS

SOURCE: CMIE ECONOMIC OUTLOOK, PPAC

Published on: Jul 25, 2023, 4:10 PM IST

Posted by: Priya Raghuvanshi, Jul 25, 2023, 3:57 PM IST

IN THIS STORY

Stock Analysis

LATEST NEWS

CRUDE CALCULUS

THE RECENT SOFTENING OF GLOBAL CRUDE OIL PRICES IS EXPECTED TO NARROW INDIA’S TRADE DEFICIT, OF WHICH OIL ACCOUNTED FOR 42.5 PER CENT (OR RS 9 LAKH CRORE) IN FY23. A LOOK AT THE KEY NUMBERS

TOP STORIES

TOP VIDEOS