Oil's not well

Beating The Street

 This is a somewhat disingenuous rationale. With winter on its way and Iraqi capacity out of commission, it is extremely unlikely that crude prices will go into a secular downtrend.

 Whatever the reasons, the cut does ensure that crude prices will remain high. That in turn means that oil-deficit economies face a new barrier in the quest for growth.

 Since most economies are built around cheap energy, growth drives up energy demands. If energy costs rise, growth tends to be stifled except in energy-exporting areas.

 India, as we all know, is not an energy exporter. In fact, India imports around 70 per cent of energy demands. This is by far, the largest component of the Indian import basket and India