Drop in global market, hefty rupee recovery make imports cheaper
It will ease financial woes of oil marketing firm as its receivables soar to Rs456b
Global market Oil falls 3% on US stimulus impasse
Govt faces daunting task of arresting the runaway deficit
With no authority to give approval, finance ministry announces to continue with existing prices
Deficit rose to $2.2 billion in the second quarter of FY17
Russia and 10 other non-OPEC states will reduce their production by more than half a million barrels per day
Statements counter to views that cast doubt on need for any production freeze
Chinese Economy: Oil prices rise after strong growth
Crude price has gained over 60% since January 20