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3 June 2015, The Political Indian

De-risking rising oil prices

Amit Bhandari, Author, Energy and Environment Fellow, Gateway House, has written an article about the oil price fluctuation and what India can do mitigate its effects. This article has been republished by the Political Indian.

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After falling more than 60% from 2014 levels, the price of petroleum has risen sharply—from $46.7 per barrel in early February to $66.5 per barrel in early May. As a result, the price of India’s crude basket, which is a mix of Oman, Dubai, and Brent crude, has gone up by 40%.

The increase is not an outcome of a demand-supply mismatch. In its latest Oil Market Report, the International Energy Agency says the price rose in April and May despite “persistently high global supply and continued stock build.”

CLICK HERE TO READ THE FULL REPORT