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Crude on the boil. What will oil producing nations do?


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With crude going higher, and petrol and diesel prices bothering the Aam Aadmi, a politically-stroke economic decision has to be taken, opines ET NOW’s Managing Editor Nikunj Dalmia. The big question is how much of the current uptick in crude is a function of demand and how much of it is a function of the supply disruptions that have happened in the US. 

At the same time, oil-producing nations are battling on many fronts – alternate energy, push to EV, crude substitution trade. If crude prices stay above $65/barrel, these are the nations that will be affected. At this point, there will be a temptation to increase output to keep the advantage on their side. 

Meanwhile, metal prices are also going higher. This could be challenging for commodity consumers such as real estate, automobile, construction, etc. Will companies increase prices or will they take a hit on margins is now the big debate.

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