Global Crude oil price of Indian Basket was US$ 54.49 per bbl on 15.02.2017

India’s economy and fiscal maths is sensitive to the fluctuations in global oil prices as the country imports 80% of its oil requirements. Creation of two new strategic crude oil storages that has been announced in the budget recently is a step that will eventually insulate India from the impact of high oil prices in times of any global crisis.

Global Crude oil price of Indian Basket was US$ 54.49 per bbl on 15.02.2017

The international crude oil price of Indian Basket as computed/published today by Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas was US$ 54.49 per barrel (bbl) on 15.02.2017

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