Hardeep Singh Puri, Minister for Petroleum and Natural Gas has said that no one can predict fuel prices because of the uncertainty that has prevailed in different parts of the world citing tensions in the Middle East. However, he hoped that the fuel prices would largely be stable, adding that there is no shortage of crude oil in the market.
Union Minister said ‘No one can say with any certainty where the fuel prices would go because there are several global tension points. Especially the Middle East tension point, there is a calibrated tension point. All the parties involved in this will see reason and they will make sure that there is no escalation beyond a point. If my assessment is correct then fuel prices will remain stable…There is no shortage of crude oil in the world…’
He added ‘The most important point to note is there is no shortage of crude oil in the world. Brazil produces 3.3 million barrels a day. They are going to bring another 400 thousand barrels a day additional on the market. There is widespread expectation that the United States, which had paused some time ago on new contracts, they are going to be adding another one million barrels a day to their 13 million barrels new. More oil is coming on the market from Guyana, Suriname, and several other countries, so there’s no shortage of oil. Now if there’s no shortage of oil, it stands to reason that prices should not go up’.
He cited global factors such as the war in the Middle East and voluntary cuts in oil production which are influencing the oil prices in the global market. The Union Minister said many countries such as Brazil, and Guyana among others are coming with their oil. Citing the stable prices in the last 3 years, the minister said that the government is taking every possible step to ensure stable oil prices.
MoneyWorks4Me rating and ranking of funds for SIP is available to subscribers only. Moneyworks4Me is not a rating and ranking agency, however it is required that users have a way of selecting funds and building a Portfolio. The method used by it are described below to enable users to understand the logic behind the rating and ranking Subscriber will find more details on this in the various content made available from time to time. In case you need more please write to besafe@moneyworks4Me.com
MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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