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Image Source : Energyinfra market Screenshot 2024 05 01 121047

ICRA predicts India's oil import bill could reach USD 101-104 billion in FY25

Last Update 01 May 2024

ICRA forecasts India's oil import bill to hit USD 101-104 billion this fiscal year due to potential Iran-Israel conflict pressures. Lower Russian oil imports saved USD 7.9 billion in the first 11 months of 2023-24, up from USD 5.1 billion the previous year, with the bill potentially rising to USD 101-104 billion in FY2025 if discounts on Russian crude persist.

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