Amidst the Israel-Iran conflict, India is closely monitoring global oil supplies daily, assuring sufficient crude oil reserves. Oil prices experienced significant volatility, surging initially before fluctuating due to concerns of a wider regional conflict disrupting Middle East oil exports, particularly through the Strait of Hormuz. These events pose challenges for India, impacting inflation and trade balances.
India reviewing global oil supply situation on a daily basis, says Union Minister Hardeep Singh Puri
