Is there cause for optimism in oil industry?

Producers reeling from slump in prices plan to step up investments in exploration

The unending controversy over the advisability of extinguishing high-denomination currency bills has distracted the nation from the way a likely rise in crude oil prices in the new year and 2018 could derail many of New Delhi’s macroeconomic calculations. 

Except for a brief period at the start of the National Democratic Alliance rule, the task of Union Finance Minister Arun Jaitley to keep inflation under check, even when the country reeled under severe drought for two years in a row, and reduce the current account deficit was made easier by low crude oil prices. 

In a prudent move, instead of passing on