SUMMARY
- 39 PER CENT: The decline in Brent crude oil prices in the past year—from $122.7 a barrel in June 2022 to $75.1 in June 2023
- 222.3 MILLION TONNES: The total consumption of petroleum products in the country in FY23, up 10 per cent from 201.7 million tonnes in FY22
- RS 16.8 LAKH CRORE: The value of imported crude and petroleum products in FY23, which is 29 per cent of India’s total imports of Rs 57.3 lakh crore
THE RECENT SOFTENING OF GLOBAL CRUDE OIL PRICES IS EXPECTED TO NARROW INDIA’S TRADE DEFICIT, OF WHICH OIL ACCOUNTED FOR 42.5 PER CENT (OR RS 9 LAKH CRORE) IN FY23. A LOOK AT THE KEY NUMBERS
SOURCE: CMIE ECONOMIC OUTLOOK, PPAC
Published on: Jul 25, 2023, 4:10 PM IST
Posted by: Priya Raghuvanshi, Jul 25, 2023, 3:57 PM IST