Crude oil prices are projected to remain elevated, with little expectation of falling below USD 70 per barrel this year. Forecasts suggest a potential settling range of USD 80-85 per barrel by 2026.
These projections reflect ongoing global uncertainties that are expected to maintain upward pressure on prices.
For India, the sustained high crude oil prices could translate to slower GDP growth and inflation rates exceeding 4.5 percent.
The Reserve Bank of India’s policy response will be critical in navigating these economic challenges.
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