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Construction : Power Update | March 2016 | Source : Infrastructure Today

Govt refiners join forces for oil deals

Government refiners are jointly negotiating oil purchase deals with OPEC producers as the world´s third biggest consumer seizes on low prices to wrest better terms. In a sign of the shift in power from oil sellers to buyers, India is reviewing its import policy at a time when OPEC members are focused more on protecting market share than boosting prices that are down some 70 per cent in the last 20 months.
 
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