Slump in Oil Prices Due to Shortfall in Demand in India

Slump in Oil Prices Due to Shortfall in Demand in India

With India reeling under the pressure of another wave of pandemic cases, India reduced the recovery period for oil demand thereby, upsetting the optimistic outlook for a bounce-back in consumption levels of oil in China and the developed countries. Brent Crude futures’ prediction for July fell by 0.7% to $ 66.28/barrel at 06:20 AM GMT. […]

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With India reeling under the pressure of another wave of pandemic cases, India reduced the recovery period for oil demand thereby, upsetting the optimistic outlook for a bounce-back in consumption levels of oil in China and the developed countries. Brent Crude futures’ prediction for July fell by 0.7% to $ 66.28/barrel at 06:20 AM GMT. […]