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Indian crude oil basket follows global trajectory, falls to record low

The March average of Indian Basket price was lowest in the last 15 years at $33.36 a barrel last month

Crude Oil price
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The Indian crude oil basket represents is derived from sour grade (Oman and Dubai average) and sweet grade (Brent) of crude oil processed in Indian refineries in the ratio of 75.50 : 24.50

Shine Jacob New Delhi
Following the global oil trajectory, the benchmark Indian crude oil price dropped to a record low of $16.38 a barrel on Tuesday.
 
Brent crude prices touched $15.98 a barrel, its lowest since June 1999. It later recovered to slightly over $20 a barrel in early Wednesday trade. Meanwhile, West Texas Intermediate (WTI) crude was seen at $13.69 a barrel at one point, recovering from the bloodbath early this week.

According to the Petroleum Planning and Analysis Cell (PPAC), the March average of Indian Basket price was the lowest in the last 15 years at $33.36 a barrel last month.

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