If the conflict in West Asia persists, India’s foreign exchange reserves could face pressure as two adverse external dynamics ...

India discovers massive crude oil and gas reserves in the Andaman Sea, boosting energy security and reducing import ...

Currently, India imports more than 85 per cent of its crude oil from other countries. It is the third-largest oil importer in ...

A $10 a barrel increase in the average price of crude oil in FY26 will typically push up net oil imports by about $13-14 ...

Union Minister for Petroleum and Natural Gas, Hardeep Singh Puri, said, I believe it's only a matter of time before we ...

Both countries are weighing long-term solutions, including boosting domestic production and securing alternative storage, ...

In a significant development on the crude oil reserves front, the Centre has stated that India is on the verge of discovering a transformational oil reserve in the Andaman Sea. As per the reports, the ...

Puri’s statement comes at a time when fears of supply disruption and rising global commodity prices are growing, especially ...

Crude oil prices rose for the second consecutive day, with Brent nearing $75 and WTI over $74 amid Middle East tensions. This ...

India’s estimated balanced recoverable crude oil reserves in the country was 671.4 mt as of April 1, 2024 reflecting a 0.3 per cent increase from the previous year’s reserves at 669.47 mt.

Usually, as per economists, an increase of $10 per barrel on crude oil prices leads to about 0.4%-0.6% increase in inflation.

It is worth noting that a $10-per-barrel increase in crude oil prices could raise India’s oil import bill by $12–13 billion ...