Oil Investing News » India’s proposal for a crude oil price band has found supporters

India's proposal for a crude oil price band has found supporters

June 16, 2009 @ 11:34 am In Oil Market News

India's year-old advice of an oil price band to reduce volatility in the crude oil market has won the backing of Nigeria, Russia, France, Japan, South Korea and the US, but experts say the proposal may be difficult to implement in the absence of a broader agreement between oil producing and consuming nations.

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