The Government on Monday said it is in a comfortable position regarding crude oil and petroleum product stocks, even as tensions escalate in the Middle East. The assurance came from the Ministry of Petroleum and Natural Gas following a media briefing by Union Petroleum Minister Hardeep Singh Puri.
Government says fuel stocks sufficient
Addressing concerns over potential supply disruptions due to the outbreak of hostilities in the Middle East and the evolving global energy situation, the minister said India is well prepared to handle short-term challenges.
“At present, the Government is reasonably comfortable in terms of stocks,” the ministry said in a statement. It added that continuous monitoring of the global energy market and domestic supply position is underway. Based on this assessment, the Government is cautiously optimistic that phased measures can be introduced, if required, to mitigate any emerging issues.
The ministry informed that India has sufficient crude oil reserves and adequate inventories of key petroleum products such as petrol, diesel and aviation turbine fuel (ATF). These stocks are considered enough to deal with short-term disruptions that could arise from instability in the Middle East, a key oil-producing region.
India positioned strongly as major global importer and refiner
India currently ranks as the world’s third-largest importer of crude oil, the fourth-largest refiner, and the fifth-largest exporter of petroleum products. Officials said this position strengthens the country’s ability to manage supply risks and respond to volatility in global energy markets.
The Government has also diversified its crude oil sourcing in recent years. This strategy reduces reliance on any single region and provides flexibility in managing disruptions. India’s strong refining capacity further helps in maintaining supply stability.
Continuous monitoring underway
Officials said developments in global oil markets, including price fluctuations and supply chain conditions, are being closely tracked. Regular assessments are being conducted to ensure adequate availability of fuel across the country.
If necessary, the Government is prepared to take calibrated and phased steps to safeguard domestic supply and protect consumers from sudden disruptions.
The reassurance comes as global energy markets react to geopolitical tensions, raising concerns over potential price spikes. However, the ministry emphasised that India’s current stock levels and preparedness provide a buffer against immediate risks.
The Government reiterated its commitment to ensuring uninterrupted supply of essential petroleum products and maintaining energy security during uncertain global conditions.
