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19Aug 2024
RISING DEMAND, STAGNANT OUTPUT PUSHES OIL IMPORT DEPENDENCY BEYOND 88%
Why in the news? India’s reliance on oil imports surpassed 88% between April and July as a result of both increasing domestic consumption and sluggish local supply. Key Details Dependency on Oil Imports: India has historically relied heavily on imported crude oil because its local production capability is insufficient to meet the country’s expanding energy …
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