Profit

Will oil bonds shrink on softening crude prices?

PUBLISHED ON: August 12, 2008 | Duration: 2 min, 24 sec

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A nearly 30 per cent fall in crude oil prices from record high levels may have been good news for revival of the global economy but India continues to reel under the high oil prices with the state-run oil marketing companies still incurring losses. But is such a steep fall in oil prices comfortable enough for India, which imports 70 per cent of its oil to cut the amount of oil bonds to be given to the state-run oil firms?
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