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Crude oil price: data suggests the need of striking a balance by producers

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Oil price crash in December, 2021

According to the oil ministry, India's fuel consumption fell by 11.4% in November; it is a pretty significant drop, given the fact that the worries about Omicron variant were not known then. There are indications that Asia's tendency to buy less oil in light of recent price hike by Saudi Arabia for the region.

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