Oil prices dip below $60, benefiting Indian economy
after close1 source ↓written by the desknot a recommendation
- with near-zero inflation
- 8%
- amid rising supplies
- $59
- YoY
- 13%
- YoY
- $81.9 billion
Oil prices have dropped below $60 a barrel, providing a tailwind for the Indian economy, which is growing above 8% with near-zero inflation. Brent crude fell below $59 amid rising supplies and concerns over the Chinese economy. Cheaper oil will help reduce India's import bill, which has decreased 13% YoY to $81.9 billion.
Not investment advice. For informational purposes only.