Stable Crude Prices Crucial for Energy Investment: Hardeep Puri

• Petroleum Minister Hardeep Singh Puri emphasized that stable crude oil prices are essential for sustained investment in the energy sector.
• Puri warned that a significant drop in crude prices would disincentivize investment, negatively impacting upstream companies like Oil India and ONGC.
• He noted that global energy markets are stable, with crude prices remaining between $60 a barrel and not rising sharply.
• Puri suggested that increasing oil supply could help maintain price stability in the global market.
• India has successfully navigated energy challenges over the past five years, achieving good performance in availability, affordability, and sustainability, and now holds a central position in the global energy landscape.

Why It Matters: Hardeep Puri stresses stable crude prices are vital for energy sector investment and global market stability.