Oil prices are expected to soften in the year ahead as supply-demand dynamics continue to hold sway.
While production adjustments by the Organization of the Petroleum Exporting Countries (OPEC) will decide the flow, growth prospects of major consumer economies, particularly China, will shape demand.
Prices could stabilise in the $70 to $75 per barrel range if OPEC reverses supply cuts even as demand growth in large economies moderates and geopolitical uncertainties do not aggravate. On the other hand, in calendar 2024, the average price was estimated to be $80 to $82 per barrel. The year saw some fluctuations, with prices rising to $90 per barrel in April because of uncertainties in West Asia and production adjustments by OPEC+ (a grouping of OPEC and 10 other oil producers).
Amid the shifting sands of geopolitics, Russia remained India's top crude oil supplier accounting for 35 to 40 per cent of total imports. Discounts offered by Russia because of western sanctions made this a win-win.
هذه القصة مأخوذة من طبعة January 02, 2025 من Business Standard.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
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هذه القصة مأخوذة من طبعة January 02, 2025 من Business Standard.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
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