ANTITRUST MEETS OIL MARKETS: PERSPECTIVES FROM INDIA AND ABROAD

AUTHOR – ANIKET RAINA, STUDENT AT AMITY LAW SCHOOL, NOIDA

BEST CITATION – ANIKET RAINA, ANTITRUST MEETS OIL MARKETS: PERSPECTIVES FROM INDIA AND ABROAD, INDIAN JOURNAL OF LEGAL REVIEW (IJLR), 5 (8) OF 2025, PG. 84-95, APIS – 3920 – 0001 & ISSN – 2583-2344.

ABSTRACT

Crude Oil or Black Gold as aptly referred is a crucial gear piece to the global economy’s machinery, powering and paving its trajectory. Standing on the shoulders of this precious resource and its derivatives, companies have amassed vast fortunes but like any commercialized product is susceptible to domineering and exploitative forces which in recent times have included “antitrust” as a response. In lieu of the same, this paper, in its entirety, acts pursuant to the aspect of antitrust in the oil market and its derivatives in India and abroad. The paper begins with an overview of antitrust and oil markets while rendering brief detail to the questions at hand and the scope and structure of the paper. Subsequently, the paper provides a succinct overview of the antitrust landscape in India and that of the Indian Oil Market and its derivatives followed by a thorough comparative analysis of antitrust approaches in India vis-à-vis foreign jurisdictions respectively. It is in lieu of the aforementioned backdrop that a summary of findings reinforced by recommendations and a conclusion is furnished therein inscribing the future tryst between oil markets and antitrust.

Keywords: crude oil, antitrust, derivatives, abuse of dominance, competition