India needs to depend less on oil import: World Bank

The World Bank on Thursday said India and other oil-importing developing countries should reduce dependence on petroleum products since high oil prices are a major concern in these nations.

“When oil prices move from $60 to $80 a barrel, it causes great difficulty in terms of economic management for all developing countries,” World Bank vice-president Danny Leipzier said here on the sidelines of an Assocham function.
Financial Express