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Modi to Abe Favor Oil Bears as Plunge Aids Asian Economies

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Prime Minister Narendra Modi has oil to thank for helping an economic revival in India. Whether his luck holds depends on a meeting in Vienna tomorrow.

Awaiting the outcome of the summit of the Organization of Petroleum Exporting Countries on Nov. 27 are other Asian leaders who depend largely on imported oil. While Chinese President Xi Jinping is looking at shoring up an economy on track to record its weakest annual growth since 1990, Japan’s Prime Minister Shinzo Abe is banking on OPEC’s 12 members sustaining production levels to stem his nation’s slide into recession.