Oil prices will likely remain elevated at over $100 per barrel for the rest of this year as the Russian invasion of Ukraine roils markets and changes trade flows, according to India's top refiner, Indian Oil Corporation (IOC). The fallout from the war in Ukraine will also slow down global economic growth significantly this year, IOC's director of finance, Sandeep Kumar Gupta, said at an event on Friday, as carried by Reuters.
IOC is one of many Indian refiners that have boosted purchases and imports of Russian crude oil over the past few months,…India's Top Refiner Sees Oil Staying Above $100 This Year
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