India’s oil need stabilises global price and demand: Minister Hardeep Puri
India’s appetite for oil stabilises global demand and prices, Petroleum and Natural Gas Minister Hardeep Puri said on Tuesday.
Speaking at the India Energy Week (IEW), Puri said that if India’s 5 million barrels of oil per day requirement had been added to the global demand already reeling from the lack of Russian crude, prices would have shot up to $120 per barrel.
“If energy from a particular source stops, and you pile on to the remaining sources, what does that do to the price?” Puri said.
