India Is Doing Better Than Most Countries Amid Current Global Oil Crisis: Sources

With the West Asian conflict raging on, one of the biggest concerns impacting almost the entirety of the world is that of oil.

The conflict in Iran, especially the Strait of Hormuz, have managed to disrupt the global supply chain thus driving up the price of oil and even putting a pressure on the available oil resources. The issue continues to become worse as the countries involved in the war keep targeting each other’s oil facilities

However, despite the rest of the world being plunged into an oil crisis, India, it seems, is doing better than most. According to sources, Indian authorities are not only confident about the oil reserve in the country, but have also received requests from other countries to export petroleum products, but India plans on looking after its own interests first.

According to the sources, the government has issued an order to maximise LPG production to all refineries as domestic consumers will be prioritized over commercial use. The sources have also confirmed that the pump price in India is unlikely to increase in future and the government is scouting the world market for more LPG.

The sources further claimed that in the aviation sector too, things look promising with ample stocks of turbine fuel available in India.
 

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