Story thread · 4 reports / 3 sources

India ‘insulated' from 'crude turbulence'

economictimes.indiatimes.com · 5h · first reportShare

India has so far insulated itself from disruptions to crude oil and natural gas supplies caused by the West Asia crisis and volatility in the Strait of Hormuz, Union Petroleum Minister Hardeep Singh Puri said on Monday, while warning that logistics and distribution remain a key challenge for global energy markets."So far we have navigated that uncertainty. In fact, I would say we have insulated ourselves from the turbulence," Puri said at an event organised by the Merchants' Chamber of Commerce and Industry.Also read: India's Russian crude imports fall to five-month low as refiners diversify supplies"Going forward, it constitutes a challenge. But I can assure you, we won't let things get out of control," he said.Puri said there was no global shortage of crude oil, with around 104 million barrels available daily against global consumption of about 94 million barrels. The bigger problem, he said, was moving supplies through disrupted and volatile shipping routes.The West Asia crisis and