Crude Off the Boil? ; Falling Crude Prices Will Make Life Easier for Oil Marketing Companies. This Should Come As a Relief for Oil Marketing Companies (Omcs) in India Whose Under-Recoveries Had Been Mounting Exponentially.

Summary

---

Finally, crude prices are showing signs of cooling off substantially. At the time of going to press, crude was trading at about $113 (Rs 4,859) per barrel. This should come as a relief for oil marketing companies (OMCs) in India whose under-recoveries had been mounting exponentially. But more on that later. First, a closer look at why crude prices have eased sharply over the last month.

The International Energy Agency (IEA) has pointed out that the tight global demand and supply scenario, which drove crude prices to record highs, is easing as higher prices and slower economic growth in developed countries checks oil demand. The slowdown in demand, which is fuelled partially by high oil prices, is becoming increasingly evident, IEA has said in a report.

See the full content of this document

Extract

---

Crude Off the Boil? ; Falling Crude Prices Will Make Life Easier for Oil Marketing Companies. This Should Come As a Relief for Oil Marketing Companies (Omcs) in India Whose Under-Recoveries Had Been Mounting Exponentially.

In a separate report, the US Energy Department's Information Administration lowered its outlook for oil prices, citing slower dema...

See the full content of this document

---