The record
Written by software from the 1 report below. The points restate them; where one says why it matters, that is Prism's reading, not a reported fact.
- Union Oil Minister Hardeep Singh Puri noted that the current geopolitical crisis in West Asia may worsen despite high levels of global crude availability.
- Current global production sits at 102 million barrels per day against India's requirement of 94-95 million barrels per day.
- The government confirmed it does not intend to restrict oil exports despite market volatility.
- Future stability in the region remains a key factor in keeping global oil prices controlled.
What to watch next
- Potential escalation of the crisis in West Asia
- Future trends in global crude oil prices
- Developments regarding foreign investment in Indian refinery expansion
Who said what2
Only words found exactly in the article are shown, attributed and linked to the line they came from.
Hardeep Singh Puri
Union Oil Minister
2 quotes · 1 outlet
“The crisis is certainly not over; it is not only ongoing, but it has the potential of exacerbating. In other words, it could get more serious”
In the article
…at the Public Affairs Forum of India’s annual conclave here Thursday. He added that notwithstanding the prevailing situation, a potential silver lining is the abundant availability of crude oil in the global market. “ The crisis is certainly not over; it is not only ongoing, but it has the potential of exacerbating. In other words, it could get more serious ,” he said. Highlighting that global crude availability remains higher than current demand; he said around 102 million barrels per day (mb/d) of crude oil is available in the market, while India’s domestic requirement…
“I am hoping with all the counsels of peace around the world, peace will come and the price of oil should be lower rather than higher”
In the article
…The Union Minister also ruled out restricting exports amidst tightened market conditions. Speaking in a broader context separately, Mr. Puri said that a return of stability could help keep crude prices under control. “ I am hoping with all the counsels of peace around the world, peace will come and the price of oil should be lower rather than higher ,” he said. ‘FDI in refining not needed, but interest exists’ Mr. Puri, responding to a query, said that while India does not require foreign investment to drive its refinery expansion, there has been interest from…
Coverage1
All filed from India
Named India · Hardeep Singh Puri · Public Affairs Forum of India
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