Consolidating credit dmcc poor Websexcam

The global low interest rate and abundant liquidity cycle is likely to slowly normalise.On the domestic front, India remained the fastest growing major economy in the world, after surpassing China last year.

While global growth was stable, markets were focused on geopolitical developments with change in leadership in the USA, and the UK working on modalities around its exit from the European Union.Global oil price strengthened in FY 2016- 17, supported by the OPEC non-OPEC co-operation to cut oil production in the last quarter of CY 2016.India became the second largest contributor to the global oil demand growth in terms of incremental oil demand.The reform process would further help boost India’s position in the global arena.Global oil demand growth remained robust at 1.6 million barrels per day in CY 2016 led by a 3.3 % y-o-y growth in demand from the non-OECD countries.

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Refining business continued to register double digit Gross Refining Margin (GRM) and outperformed benchmark Singapore GRMs.

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