Demand for commodities is beginning to crumble in India. With oil at $90 or nearly $90 a barrel these days, Indian purchases could slow down going forward. India’s imports in January 2022 are estimated by commodity intelligence firm Kpler to be lower than in November and December. One of the first signs that rallying commodity prices have started to chip away at demand at major energy importers is emerging in India—the world’s second-biggest coal importer, third-largest crude oil importer, and a major LNG buyer. India is one of the most price-sensitive large importers of energy commodities, including oil. Last year, India repeatedly called on OPEC and OPEC+ to increase production more than planned to bring international oil prices down, saying that it does not support “artificial cuts to keep the price going up.” India has also urged the OPEC+ group to consider the effects of higher oil prices on […]