iran But after the attacks by Israel and America, the environment of the Middle East is continuously deteriorating. The closure of the Strait of Hormuz by Iran has created a crisis in the availability of crude oil all over the world. However, the situation for India is still completely under control. Government sources said that India has 25 days of crude oil and refined oil stock available. Apart from this, considering the current circumstances, the government is looking for other sources to import crude oil, LPG and LNG. Along with this, government sources said that there is no immediate plan to increase the prices of petrol and diesel in the country.
20 percent of the world’s crude oil passes through the Strait of Hormuz.
Sources said that our situation is quite comfortable in terms of crude oil, LPG and LNG. Iran’s state media said on February 28 that it had closed the Strait of Hormuz in response to US and Israeli missile attacks. Let us tell you that the Strait of Hormuz is one of the world’s most important transport routes for crude oil trade. 20 percent of the world’s total crude oil passes through the Strait of Hormuz.
India imports 90 percent crude oil from other countries.
India imports 88-90 percent of crude oil from other countries to meet its needs. Many countries of the world produce crude oil. America is the world’s largest producer of crude oil. Apart from the US, Saudi Arabia, Russia, Canada, China, Iraq, Iran, Brazil, UAE and Kuwait are the largest oil producing countries. However, India has been buying crude oil from Russia, Saudi Arabia, Iraq, UAE and America for a long time. But, if needed, India can import crude oil from any country.
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