'Don't Relax. $45-50 Oil a Temporary Phenomenon'

The tumble in global crude prices has been a big benefit for countries like India, which imports nearly four-fifth of its oil requirement. Apart from lower fuel prices and hence lower inflation, the Indian government's subsidy burden also eases significantly. But Dr Fatih Birol, chief economist of International Energy Agency, has a word of caution. "The $45-50 a barrel oil is a temporary phenomenon. Don't get too relaxed," he to...