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  • While petroleum-producing countries are being buoyed by higher global oil prices, the big consumers are taking a hit — especially India and other Asian nations.
  • India is the world's third-largest oil consumer, and sources about 86 percent of its crude oil and 75 percent of its natural gas from OPEC countries.
  • The 14 nations of OPEC are convened in Vienna, Austria, this week where they will attempt to reach an agreement on oil production levels for the next 18 months.

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