ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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A Response

The price of oil moved from $45 per barrel in mid-2006 to about $145 in 2008, then corrected to $40 before surging to $130 over the next three years. It has been consistently trading at around $100 since. 1 In contrast, the movement of oil production 2 and its consumption 3 between the years 2000...

Reassessing the Brent Benchmark for Crude Oil

There is reason to believe that the Brent benchmark for global crude oil prices is being manipulated. This has serious implications for oil import dependent countries like India. The opaqueness of the price setting process makes it diffi cult to establish rigging, but it is in the interests of India and other large developing countries to bring out the real picture.
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