Oil costs crashed this week, sparking a pointy world sell-off in capital markets  however specialists say low vitality costs may very well be a silver lining for India, one of many world's closely-watched economies. 

U.S. crude and worldwide benchmark Brent costs plunged to multi-year lows after OPEC failed final week to strike a deal on manufacturing cuts with its allies, together with embody Russia. That led Saudi Arabia, the world's largest oil exporter and the de facto chief of the vitality cartel, to slash oil costs and threaten to ramp up manufacturing. 

A provide glut has saved oil costs comparatively low in recent times, as OPEC+ made up of the Group of the Petroleum Exporting Nations and its non-OPEC allies corresponding to Russia coordinated manufacturing cuts to assist vitality costs. The present settlement expires on the finish of March,...