In this video we will see How India benefits from low Crude Oils prices. The biggest buyers of Saudi Arabian oil are the Asian countries like Japan, China, South Korea and India. Apart from the Asian countries, many European countries and even United States import oil from Saudi Arabia. Due to the outbreak of the coronavirus, China and South Korea are no longer consuming as much energy as it did few months ago. India will benefit from low oil price and it will improves its Current Account Deficit and Fiscal Deficit.
#lowcrudeoil #saudiarabiaoilpricewar #upsc #currentaffairs #globaleconomics
