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Crude oil stays higher for longer as Middle East turmoil bites Indian growth and prices
Economy
Published on 10 May 2026
FY27 GDP could cool while inflation climbs faster
The ADB chief economist warns crude oil prices are likely to remain elevated due to the Middle East crisis. With India heavily dependent on imported oil, higher energy costs are expected to drag FY27 GDP growth while inflation rises. Additional pressure could come from weather disruptions and soaring fertilizer costs, which may push up food prices.
- Middle East instability could keep crude prices high longer
- Imported oil exposure may weigh on India’s FY27 growth
- Inflation outlook looks worse as costs rise across sectors
- Weather and fertilizer costs could further lift food prices
Read the full story at The Economic Times
This summarization was done by Beige for a story published on 
The Economic Times