Will Global Recessions End ? As Global crude oil price US$ 49.22 per bbl on 06.01.2015

Global crude oil price of Indian Basket was US$ 49.22 per bbl on 06.01.2015 Will Global Recessions End ?

 Is there a new lease of life to industry? Global crude oil price US$ 49.22 per bbl on 06.01.2015 is lowest to achieve and this marks the oil to touch below half century. With oil price nose diving the economy which is in shambles will help to re-orient itself in process many bigwigs may feel the pinch but with new lease of life to industry specially the MSME sectors  which were in fiscal,marketing and production crunch due to high Oil cost  build up to new heights.

Global recessions shall improve in if the level at minimum are maintained for nearly next two quarters.

The international crude oil price of Indian Basket as computed/published today by Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas was US$ 49.22 per barrel (bbl) on 06.01.2015. This was lower than the price of US$ 51.53 per bbl on previous publishing day of 05.01.2015.

In rupee terms, the price of Indian Basket decreased to Rs 3120.06 per bbl on 06.01.2015 as compared to Rs 3266.49 per bbl on 05.01.2015. Rupee-dollar exchange rate remained unchanged at Rs 63.39 per US$ on 06.01.2015 as compared to 05.01.2015.