With the price of crude up about 18 percent this year and now trading at the highest since 2014, exporters of the fuel get to enjoy a windfall while consuming nations get hurt.
Oil is India’s biggest import and elevated prices along with a weaker rupee will widen the trade deficit, fuel imported inflation and squeeze government finances.
China's crude oil imports compared to a year earlier represents growth of about 1.2 million barrels a day, so even slower domestic demand growth can have an outsized impact on global markets.
The industry forecasts exports are set to grow 16% in 2025-26, boosted by surplus domestic production and a drive to push into 26 underserved global markets with strong potential.
Taylor ‘Fema’ Hiester, commander of USAF F-16 Viper Demo Team, hit out at air show organisers for continuing with the show after Wing Commander Namansh Syal lost his life in the incident.
It is a brilliant, reasonably priced, and mostly homemade aircraft with a stellar safety record; only two crashes in 24 years since its first flight. But its crash is a moment of introspection.
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