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Yukos: An opportunity for India - Views on News from Equitymaster
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Yukos: An opportunity for India
Jan 10, 2005

On the back of the surge in crude oil prices, India has witnessed an over 56% jump in the oil import bill (imports nearly 70% of its oil requirements). Currently, crude oil prices are hovering at nearly US$ 39 per barrel (Indian mix), which is nearly 40% higher that the previous fiscal average price of nearly US$ 28 per barrel. The country is likely to be the major consumer of oil in the world going forward, thereby driving demand along with other developing nations. See table below.

Demand for crude oil (MMT) FY05E FY06E (%) change
USA 1,018 1,028 1.0%
Europe 778 783 0.6%
China 314 334 6.3%
India 100 124 25.0%

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