Despite the lack of demand in the global markets owing to worldwide slowdown in economic activity, natural resource research firm Goehring & Rozencwajg (G&R) says that it expects oil prices to rise.
Typically, oil prices fall if there is a persistent lack of demand. Currently, the global economy is witnessing a major slowdown and economies like China, Germany and India have reported declining factory output.
The research firm in a recent note to investors said: “We remain bullish on oil prices and believe the second half of the year will see significant strength.”
India is highly susceptible to fluctuations in the international oil market as it imports over 80 per cent of its oil requirements. Read More
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