Crude Oil Price Today: There may be news of relief for India in the coming days. Common people can get relief from inflation. Moody's Analytics has said that there may be a big fall in the prices of crude oil. This has been said in the report released regarding the Asia Pacific.
Moody's said in its report that due to the war between Russia and Ukraine, the price of crude oil went up to $ 120 a barrel, which has now fallen to $ 100 a barrel. And this trend may continue. According to Moody, by the end of 2024, the price of crude oil can come down to 70 barrels per barrel.
Earlier in July, Citigroup had also predicted a big fall in crude oil prices. Citigroup had said that, by the end of 2022, the price of crude oil could slip to $ 65 per barrel. So by the end of 2023, the price can come down to $ 45 per barrel. That is, at present, crude oil is trading around $ 95 per barrel.
Anyway, if we look at the history of crude oil prices, when there has been a crisis in the global economy, there has been a big fall in the prices of crude oil. During the recession in 2008, crude oil slipped from $ 149 a barrel to $ 35 a barrel. So during the Korana epidemic (Covid-19 Pandemic), due to the worldwide lockdown, the price of crude oil had fallen to $ 20 per barrel. Due to the economic crisis and recession on Tuesday, the price of crude oil in America has come close to $ 90 per barrel.
However, if there is a fall in the prices of crude oil, then the best news will be for India. India imports 80 percent of its crude oil consumption. It has to spend a major part of its foreign exchange reserves on the import of crude oil. With the fall in the prices of crude oil, where cheap petrol and diesel will be available to the common people. Foreign exchange reserves will be saved, and the fiscal deficit of the government will be reduced.
Also Read: Inflation in India: Inflation hit, food prices increase drastically in one year
PM Modi in ASEAN Summit PM Modi today addressed the 43rd ASEAN Summit going on in Jakarta. PM Mod
Frustrated Pakistan retaliated against Iran on Thursday. Pakistani Air Force entered the border o
Google: Google violating CCI order, charging more commission from app developers
The Alliance of Digital India Foundation (ADIF) on Thursday said that the American company Google
Despite posting a massive total of 243 runs in the 41st match of IPL 2026, the Mumbai Indians suf
Bharatiya Kisan Union Chaduni faction has not yet been able to connect with the farmer's organiza
Priyanka Chopra is in discussions these days for revealing the reason behind her move from Bollyw
Amidst the Lok Sabha elections, Prime Minister Narendra Modi spoke on the phone to a BJP candidat
Vikas Yadav, wanted in Pannun case, was arrested by Delhi Police in November! Report claims
Vikas Yadav, who has been named by the US as the main accused in the conspiracy to murder pro-Kha
PM Modi Letter: Now only a few hours are left for the announcement of the Lok Sabha elections. Th
Padma Award winners were honored at Rashtrapati Bhavan on 22 April. During this time, a video of
