Indian majors have to balance between rising crude prices, muted demand and heavy central and state levies on retail prices, reports the Business Standard.
Crude oil cutsWhen Saudi Arabia announced a crude oil production cut on January 5, it took the world of petroleum by surprise and created a degree of frustration for India.
Starting February and then March, the Saudi Kingdom will cut production by one million barrels a day, though the overall production levels of OPEC+ (OPEC plus Russia) will...
https://mfame.guru/oil-majors-to-tackle-rising-crude-prices-amid-muted-demand/