Petroleum minister Hardeep Singh Puri warned Thursday that the West Asia crisis is ongoing and could escalate further. He said global crude availability of about 102 million barrels per day exceeds India's 94-95 mbd requirement, so there is no shortage. The bigger risk is simultaneous disruption of the Strait of Hormuz and Red Sea routes. India's refining capacity is set to reach 310-320 million tonnes per annum by 2030.
West Asia crisis not over, may worsen: Puri
Source: Times of India