Indian oil demand remains resilient despite high prices on Nostr: Indian oil demand remains resilient despite high prices =============== #702eafa1 ...

Indian oil demand remains resilient despite high prices
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#702eafa1 ver:0.06

Despite high oil prices, Indian oil demand remains resilient, benefiting the country's economy. Falling oil prices have historically boosted India's GDP growth, as the demand for petroleum products in the country is not price elastic. Lower oil prices have contributed to increased corporate profits and GDP growth. The decline in global oil prices is a relief for India, which imports over 85% of its crude oil requirement. Cheaper oil prices and strong GDP growth in India, along with potential rate cuts by the US Federal Reserve, contribute to a bullish stance on the Indian economy. Rising crude oil prices may benefit stocks like ONGC, Indraprastha Gas, Oil India Ltd., Petronet LNG, and Engineers India Ltd. Despite high prices, India is expected to register steady growth in crude oil consumption. #OilPrices #IndianEconomy #GDPGrowth #CrudeOilImports...

#newstr #OilPrices #IndianOilDemand #India

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