Economic data
India's Crude Oil Import Bill Soars 46% as Middle East Crisis Drives Up Prices
India paid $15.4 billion to import crude oil in September, up by 46% from the year-ago import bill of $10.5 billion, as international oil prices and the Indian import crude basket soared amid reignited tensions in the Middle East. India, the world’s third-largest crude oil importer, saw its crude imports rise by 7% in September from a year earlier. But the price to pay for crude oil imports soared by 46%, according to data from the Oil Ministry’s Petroleum Planning and Analysis Cell (PPAC) cited by the Times of India. The Indian basket…