India Dominates Oil Headlines

Lots of oil-related news coming out of India today (and this week), folks. India is feeling the weight of the higher oil prices and is still finger crossing for a waiver and contemplating ditching the dollar trade for oil. Also looks like India is indeed going to take some Iranian oil in November. Rupee falling and gov lowering petrol prices.

Overall, does this equate to bullish or bearish? 

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8 minutes ago, Rodent said:

Lots of oil-related news coming out of India today (and this week), folks. India is feeling the weight of the higher oil prices and is still finger crossing for a waiver and contemplating ditching the dollar trade for oil. Also looks like India is indeed going to take some Iranian oil in November. Rupee falling and gov lowering petrol prices.

Overall, does this equate to bullish or bearish? 

It's bearish, because it implies that Iranian exports will in fact not drop to zero like Trump wants.

It's a lose lose situation for India either way, they either piss off trump or ruin their economy by amassing more foreign debt.

I'd take my chances with buying Iranian fuel rather than destroy the economy 

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