Oil Imports

The rising oil consumption is not only an economic issue but also, over time, becoming a health emergency. Over the last two decades, the consumption of edible oil in India has grown rapidly, burdening the economy and creating a health crisis for Indians at the same time.

Pakistan's economy is reeling as the Iran-US conflict disrupts oil flows through the Strait of Hormuz. With fuel prices up 20%, the country faces soaring inflation, agricultural distress, and a potential $14 billion hit to its external payments and foreign reserves.

As consumers are panic buying LPG cylinders amid rumours of shortage, these hoarders are making huge money by selling the cylinders at double the prices.

The only thing more glaring here than the obvious lie that the US controls India’s oil purchases is the sheer hypocrisy of the US government to insinuate that their sanctions are a blessing for the world, and when they pretend to un-sanction their own sanctions, it is again for the benefit of the world.

An insider mentioned, "India has crude oil in reserve for 25 days, alongside petrol, diesel and LPG for 25 days as well."

Even as the EU keeps buying Russian gas, it has now targeted Indian refineries and flagged ships carrying Russian oil. India has hit back, calling out the West’s double standards and asserting its right to secure energy for 140 crore people.

In a major boost to the 'Make in India' initiative, India is likely to invest $10 billion ($850 million) by 2040 to purchase around 112 crude oil tankers to be made in India

Days after the Maldives Monetary Authority (MMA) sent a warning letter to the Finance Ministry warning about exhausting usable reserves of the country, the state's usable dollar reserves have actually run out, reported Adhadhu,