India Stores 100 Million Barrels of Crude Oil Stock to Fight Possible Supply Shutdown at Strait of Hormuz Amid Middle East Conflict
India is now holding about 100 million barrels of crude oil in its stock. This news comes as the war in West Asia gets very scary. The government is worried about the Strait of Hormuz. This is a small but vital sea path for oil ships. If this path closes, oil cannot reach India. So India has built a big reserve to stay safe. This oil stock is kept in big underground tanks and at refineries. Experts say this supply can last for about 68 days. This is a very big number for a country that imports most of its oil.
The Indian government is very active in checking its energy safety. They have three main strategic reserves in the country. These are located in Visakhapatnam, Mangaluru, and Padur. These places hold millions of tons of oil for emergencies. Right now, the global oil market is very shaky because of the Iran and Israel fight. Any big move in the sea can stop the ships. India wants to be ready before that happens. It does not want its people to suffer from high fuel costs.
The Petroleum Ministry is talking to oil companies every day now. They want to make sure the tanks are full. Most of the oil in India comes from the Persian Gulf. This area is very close to the war zone. You can find more as India sits on 100 mn barrels of crude oil stock while the world watches the Middle East. The government says there is no need to panic yet.
India is also looking for oil from other countries like Russia and Brazil. This helps to reduce the risk from the Middle East. The 68-day cover is a mix of strategic and commercial stocks. This means the country has enough time to find new ways to get oil. The economy depends on steady oil prices for growth. Without oil, trucks and planes will stop. The government will keep a tight watch on the Strait of Hormuz for now.
