Asian Development Bank Chief Economist Albert Park forecasts elevated crude oil prices, averaging $96 per barrel in 2026 and $80 in 2027, due to prolonged Middle East tensions. This outlook suggests a 0.6% reduction in India’s GDP growth for FY27, pushing inflation to 6.9% amid reliance on imported oil and gas.
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Middle East turmoil to keep oil prices elevated for years, dent India’s GDP growth: ADB chief economist
- by The News Vista
- May 10, 2026
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