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Oil prices

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Oil prices

Coronavirus-hit China triggers an unprecedented slide in global oil demand. It can help India.

Global crude-oil demand may just collapse in 2020. As the global economy faces a likely recession, crude prices have gone into a tailspin, sinking over 30% this year. Still, it helps India – cuts the mammoth import bill, keeps fuel inflation in check, and RBI can sustain a soft interest-rate regime to boost growth. But first: the Modi government must contain the coronavirus.

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