ONGC Rules Out Oil Prices Dropping Below $60

Quick Summary

• The full article content is behind a paywall or requires a subscription to ET Prime.
• Key topic: The article appears to focus on oil prices and ONGC’s outlook on the likelihood of oil prices dropping below $60 per barrel being very low.
• Source: Economic Times (ET).

indian Opinion Analysis
While the detailed arguments made by ONGC are not accessible due to the paywall, a forecast that oil prices are unlikely to dip below $60 per barrel suggests expected stability in global crude markets from ONGC’s standpoint. For India, which imports a important portion of it’s oil needs, stable or higher crude prices can impact domestic inflation and fuel costs negatively but may also allow upstream companies like ONGC to maintain profitability in exploration and production activities. Monitoring such predictions helps in anticipating shifts in energy policy and fiscal planning for India’s economy.

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