Crude Oil: Petrol will be sold for Rs 400 in India? This frightening report came about crude oil
Petrol Price
Highlights
- Petrol price in India may reach up to Rs 400 per liter
- Crude oil price may reach $380 per barrel
- Russia may reduce crude oil production by five million barrels
If you are worried about petrol reaching beyond Rs 100 then stop. The real hunter of inflation is waiting for you. According to a report on crude oil, the price of petrol in India can reach up to Rs 400 per liter. According to the report of JP Morgan Chase & Co., if the current conditions do not stop, then the crude oil price can reach $ 380 per barrel. If this happens, the price of oil in India can also jump by about Rs.
Crude oil will reach $ 380 barrel
According to analysts at JPMorgan Chase, if the US and European countries tighten the noose on Russia, Russia could reduce crude oil production by up to five million barrels. Because of this, there can be a storm of crude all over the world. And the prices will reach around $380 per barrel. Let us tell you that after the attack on Ukraine, America and European countries have imposed strict economic sanctions on Russia.
Russia will become the cause of the crisis
According to JP Morgan experts, if Russia cuts crude oil production by three million barrels per day due to US pressure, then Brent crude oil prices will reach $190. Which are currently around $ 111 per barrel. At the same time, if Russia produces five million, then the rate of crude oil will reach $ 380 per barrel.
Crude oil from Russia
India will be badly affected
India is one of the largest crude oil importing countries. If the increased crude oil prices in India had an effect, then the price of petrol would reach Rs 400 per liter. At present, the average price of petrol in India is around Rs 100 per liter. Hence, there is bound to be a huge increase in the prices.
Expert told the report nonsense
JP Morgan’s report of crude oil prices reaching $ 380 per barrel has been termed by many experts as baseless. He says that at present there is no such situation.
India is importing from Russia
India has bought 50 times more crude oil from Russia since April. Russia’s share in India’s total crude oil imports has increased to 10 percent. Before the start of the war with Ukraine, India was buying only 0.2 per cent of oil from Russia. In April, this increased to 10 per cent.
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