business ⛽ West Asia Crisis: Oil Minister Warns of Escalation
Union Oil Minister Hardeep Singh Puri stated that the West Asia crisis is not finished and could get more serious. He made these remarks at India’s annual Public Affairs Forum conclave on Thursday. Currently, about 102 million barrels per day of crude oil is available globally, compared to India's estimated need of 94-95 mb/d on September 24, 2026. Puri also mentioned that while FDI isn't needed for refinery expansion, there is overseas investor interest. He expressed hope that global peace would help keep crude oil prices down.