Oil prices fall below $60, benefiting Indian economy
pre-market1 source ↓written by the desknot a recommendation
- a barrel
- $60
- with low inflation
- 8%
- amid rising supplies
- $59
- YoY
- 13%
- YoY
- $81.9 billion
Oil prices have dipped below $60 a barrel, providing a boost to the Indian economy, which is growing above 8% with low inflation. Brent crude fell to $59 amid rising supplies and concerns over the Chinese economy. Cheaper oil will reduce India's import bill, which has already decreased 13% YoY to $81.9 billion.
Not investment advice. For informational purposes only.