India’s worst fear: Can crude oil prices hit multi-year highs again?


India’s worst fear: Can crude oil prices hit multi-year highs again?

Oil prices have crashed more than 30 percent since hitting a four-year high of almost $87 a barrel in early October. Worries over glut gripped the market and concerns over global economic growth made sentiment turn negative.

The threat of supply shortage from Iran on account of renewed US sanctions after Trump’s rescinded the nuclear deal lifted the Asian benchmark Brent oil to multi-year highs.

However, the recent decision from Organisation of the Petroleum Exporting Countries (OPEC) and non-OPEC allies lead by Russia has creased widespread anomalies in pricing. Read More

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