India Says Crude Oil Supply Remains Secure Amid West Asia Crisis
India’s Petroleum Minister told Parliament that the country sources crude from 40 countries, with 70% of imports now coming from outside the Strait of Hormuz.
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Terms & Concepts
Strait of Hormuz: A critical oil shipping chokepoint linking the Persian Gulf to global markets, closely watched during regional conflict.
Refining capacity utilization: A measure of how much of a refinery’s processing capability is being used, often indicating fuel supply conditions.