The reverse migration due to COVID-19 and the global economic gloom will add to the growing unemployment, worsen rural poverty, among other welfare implications
The Hinduja Group operates in various industries including automotive, oil and speciality chemicals as well as banking and finance. It runs private sector lender IndusInd Bank in India.
While even amid the larger economic gloom, falling prices would significantly lower India's import bill
Indian traders were run over by the virus, the oil market, the regulator and the commodity exchange MCX
Goldman Sachs said on Sunday that the deal between major oil producers to cut output by nearly 10 million barrels per day is 'historic yet insufficient,' adding that no deal would be enough to offset the sharp drop
Oil prices extended gains Thursday after Russia signalled it was ready to cut output before a key producers' meeting aimed at boosting energy markets as the coronavirus pandemic strangles demand.
Looking ahead, prices are likely to continue with negative bias, despite policymakers committing trillions of dollars to offset the negative impact on the economy.
Even in this age of pandemic, global coordination remains a commodity in short supply as political considerations continue to shape national responses.
Considering all these sectoral losses and global supply chain disruptions, India’s ongoing GDP losses are estimated to be around $5-10 billion (0.15-0.35 percent of GDP).
While Riyadh and Moscow refuse to blink in their oil standoff, global alliances could break, and political upheavals could intensify, even threatening regimes.
Saudi Arabia's Energy Minister Prince Abdulaziz bin Salman Al-Saud said that he was watching developments closely in China and said he felt confident that the new virus would be contained
Moneycontrol's Sakshi Batra does a 3-Point Analysis to find out whether crude oil prices would remain high or decline in 2020.
Roubini has said it is “a scary time for the global economy” even though the sentiment in stock markets does not reflect it.
International benchmark Brent crude oil futures rose 21 cents, or 0.29 percent, to USD 71.93 a barrel by 0319 GMT. Brent gained as much 0.5 percent to 72.08 a barrel, the highest since November 8 and the highest this year.
The RBI would do well to actively intervene in the currency market to attain dual objectives of building reserves and keeping the rupee competitive for Indian exporters.
Crude oil may continue to be rangebound in the near term. US crude oil production is continuously rising. This is a matter of concern for the market.
Oil traders will be watching for more trade-related headlines this week, as Chinese officials are to arrive in the US on Wednesday for the next round of negotiations
Oil traders will continue to monitor global crude supplies and the outlook for energy demand in the week ahead
Prices of Natural Gas are less likely to gain further and may trade inside a range of $2.2-5 mmbtu. Indian futures prices are most likely to get stuck inside Rs 310-180 with a mild negative bias
The sudden decline in oil prices has set a shock wave across asset class. Unless oil prices stabalise, equity markets will remain volatile.
ONGC Videsh's listing will give investors an opportunity to play a fast growing international oil exploration and production company, a much better play than its parent ONGC
The S&P BSE Oil & gas was up half a percent led by IOC which added 1.4 percent followed by HPCL, Castrol India, BPCL, GAIL India, Reliance Industries and Oil India Limited.
US West Texas Intermediate (WTI) crude futures were at $54.07 per barrel at 0204 GMT, down 56 cents, or 1 percent while Brent crude oil futures were at $62.64 per barrel, 4 cents above their last close amid thin trading due to a holiday in Japan.
Here's a roundup of key updates in commodities market.
Oil prices shed a fifth of their value in just one month after surging to a four-year high in early October