Rising oil import bill swells current account deficit
The recent surge in crude oil prices along with a nosediving rupee is likely to jack up India’s oil import bill by over 42 percent to more than US$125 billion in fiscal year (April-March) 2018-19
Crude
Oil prices will remain range-bound around US$60-65 through 2018
Irrespective of geopolitical uncertainties, output cuts and production outages crude oil prices are likely to remain in the range of US$60-65/barrel through 2018