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Drilling of two wells in B-80 block has completed: P Elango, MD, HOEC © Provided by Zee Business P Elango, Managing Director, HOEC, talks about increasing crude prices & their impact on HOEC, B-80 block, Hardy Exploration & Production as well as Kharsang Oil Field and CapEx during a candid chat with Swati Khandelwal, Zee Business. Edited Excerpts:   Q: Crude prices have reached around $70 per barrel. What impact will it have and what are your expectations related to crude prices?   A: Really what happened is in January is Russia and Saudi Arabia did a very surprise announcement of cutting their production by one million barrels during February and March. This action which is taken by Saudi Arabia almost after several years without consulting OPEC sent a very strong signal in the market after which you saw the oil prices rallying upwards. The other factors that are happening are before the COVID hit the world an average of 100 million barrel of oil demand and supply was

Saudi arabiaSwati khandelwalOil fieldMalaysian high courtManaging directorHardy explorationEdited excerptsDiscovered small fieldsMiddle eastMobile off shore processing unitFloating storageSingle point mooringMalaysian highசவுதி அரேபியாசுவாதி கண்டெழுவாள்எண்ணெய் புலம்