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Oil at US$45-US$50 is a fair price for India's exploration goals

India briefly overtook Japan as the world's third-biggest oil consumer in the second quarter of last year.

New Delhi

CRUDE at US$45 to US$50 a barrel is enough to encourage India's own exploration without squeezing fuel consumers, according to the oil minister of the world's fourth-largest user.

While the collapse in prices has created a buyers' market and boosted India's bargaining...

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