India is prepared to manage global disruptions in oil, with fuel reserves equivalent to 76-80 days of consumption, union minister of petroleum and natural gas Hardeep Singh Puri said.
Puri expects fuel prices to come down and assured that there was no immediate energy risk to the country.
He said India has enough strategic petroleum reserves, refinery inventories, and commercial stocks to provide at least 30-60 days of buffer, even if the Strait of Hormuz remains closed.
Puri also highlighted the government's efforts to diversify oil supplies, including additional gas supplies from Mozambique and discussions with UAE officials.
He expressed concerns on the Strait of Hormuz remaining closed or the conflict spreading to or affecting other regions, which could lead to a global depression.
