| Date | Apr-June 2018 |
| Author | Ajay Marchanda |
| Publication Name | The Federation of Indian Petroleum Industry (FIPI) |
Abstract:
The prices of the Crude oil have seen lot of turmoil globally in the past decade, specifically in the last 5 years – the price having touched a high of $147 per barrel (bbl) during 2008 and dropping down as the global economy was hit by recession and demand for oil dipped. The prices again continued to rise till 2012, kept steady for about 3 years around $100/bbl till 2014 and again fell to a low of an average $43/bbl in 2016 and now again observed to be going up – till recently to $80/bbl in 2018.
This paper examines the reasons of the volatility observed globally, the forecast in the next two decades and also the impact that it presently has w.r.t inflation and GDP etc. and the options that are available in the Indian context.
