(This article was originally published on October 18, 2014) In recent months, a prolonged bull market has led to a collapse in global commodity prices and a regular widening of account and fiscal deficits, which, along with rising subsidies and a depreciating rupee, have hurt India. Now all this is reversing. Petrol prices have fallen to their lowest level in 16 months, edible oil and rubber prices to their lowest levels in five years. Sugar and cotton are also falling. This bodes well for low inflation. Why are oil prices falling? Surging supply and weak demand outlook Shale oil production surges OPEC shows no signs of cutting production Saudi Arabia is unwilling to bear the burden. Production rose 0.5% to 9.65 million bpd in September. IEA cuts global energy demand forecast for fourth straight month IMF cuts global growth forecast pHas oil bottomed out? Bank of America and BNP Paribas say oil prices will stay above $80 a barrel. Despite analysts’ disagreement, oil prices ro...

Mumbai:Gulf Oil Lubricants India Pvt. Ltd (Hinduja Group) has entered into a strategic partnership with global lubricants manufacturer Whitmore. Gulf Oil will exclusively represent Whitmore Lubricants in India. The partnership will enable the two companies to offer best-in-class lubrication reliability products and programs for the mining and other industrial sectors in India, a company statement said. The partnership provides Gulf Oil with the opportunity to participate in Whitmore’s highly regarded products and programs. “Whitmore was looking for the right partner to enter the Indian market together. We needed a partner who understood the market needs. Gulf Oil has the distribution network we wanted and offers our customers innovative solutions to complement our products. ” said Jack Ellis, Vice President of Sales for Whittemore Lubricants. “We look forward to working with Whitmore to enhance our offerings for key industries such as mining, minerals and metal...