The fears of a repetition of India's 1991 forex crisis are being felt in India as oil prices are expected to average around $125/barrel through March 2027, Bloomberg reported. Elevated oil prices could drain over $130 billion from India's balance of payments (BoP). Notably, the $63.7-billion BoP surplus in FY24 fell steeply to a $5-billion BoP deficit in FY25.