- India paid $15.4 billion for crude oil imports in September, up 46% from $10.5 billion a year earlier.
- Crude import volumes rose 7% year on year, so higher prices drove the increase in India's import bill.
- South African business sentiment steadied in September, but inflation pressure from high oil prices remains a concern.
- Analysts cite higher oil price pressure as a factor weighing on global markets alongside AI trade concerns.
Quotes
“India paid $15.4 billion to import crude oil in September, up by 46% from the year-ago import bill of $10.5 billion”