India consumes 5.5 MBs crude oil per day, only 1.5 to 2 MBs pass through the Hormuz: Oil Minister Puri

Ziraat Times News Desk

New Delhi – Amid rising concerns over geopolitical tensions in the Middle East and their potential impact on global energy markets, Union Minister for Petroleum and Natural Gas Hardeep Singh Puri has assured that India faces no immediate threat to its crude oil supplies. The government, he said, is fully prepared to deal with any disruptions, including the possible closure of the strategic Strait of Hormuz.

In a post on X (formerly Twitter), Puri said, “Under the leadership of Prime Minister Narendra Modi, we have diversified our supplies in the past few years. A large volume of our crude no longer comes through the Strait of Hormuz. Our Oil Marketing Companies (OMCs) have ample reserves and continue to receive energy supplies through several routes.”

India currently consumes about 5.5 million barrels of crude oil per day, of which 1.5 to 2 million barrels pass through the Strait of Hormuz, while the remaining 4 million barrels are sourced via alternative routes.

“There is no cause for alarm. Most of our OMCs have stock for three weeks or more. One of them has reserves for 25 days. We can easily scale up supplies from other routes. We are in touch with all possible actors,” the Minister told news agency ANI.

Puri also noted that the escalation in the Middle East “was not entirely unexpected” and that the government had already factored in the possibility of tensions disrupting crude movement through the strait.

Meanwhile, oil prices, which had surged to their highest levels in nearly five months amid fears of supply disruptions, showed signs of easing. Rahul Kalantri, Vice President (Commodities) at Mehta Equities, said prices corrected late in the session after the US President hinted at a decision on potential intervention within two weeks.

According to Kalantri, crude oil has technical support at $74.20–73.40 per barrel and resistance at $75.65–76.20. In Indian markets, the support levels are Rs 6,400–6,320 and resistance is pegged at Rs 6,580–6,690 per barrel.

As of now, there are no indications of an imminent hike in domestic petrol and diesel prices. The situation remains under close watch.