Government Report: India's Strategic Oil Reserves Can Last Nearly Two Months
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India's Strategic Oil Reserves Last Nearly Two Months, Govt Report Confirms
M
Moneycontrol•08-03-2026, 21:02
India's Strategic Oil Reserves Last Nearly Two Months, Govt Report Confirms
•India holds over 250 million barrels of crude and refined products, providing 7-8 weeks of energy coverage, countering claims of only 25 days of reserves.
•Energy sourcing diversified across 40 countries; only 40% of crude imports pass through the Strait of Hormuz, with 60% from alternative routes.
•Russia remains India's largest crude oil supplier as of February 2026, with imports complying with G7 price cap rules and a recent US Treasury waiver.
•Domestic 20% ethanol blending displaces 44 million barrels annually; refining capacity of 258 mmtpa exceeds national consumption demand.
•Retail fuel prices stable for four years; public sector oil companies absorbed Rs 64,500 crore in losses to ensure affordability and availability.