- By Kamakshi Bishnoi
- Sun, 01 Mar 2026 11:52 PM (IST)
- Source:JND
India is unlikely to face any major disruption in crude oil supplies in the near future due to the closure of the major crude oil supply routes, such as the Strait of Hormuz.
According to officials, India has enough crude oil reserves to meet at least 10 days of oil needs. However, if the Strait of Hormuz remains closed for a longer period, the country may shift its import sources by increasing purchases of Russian oil.
The Strait of Hormuz is one of the world's most important energy evacuation points, carrying about a fifth of global oil and gas supplies. Officials said the short-term shutdown would not significantly impact India, which has sufficient supplies to meet its fuel needs.
However, the immediate impact is visible on oil prices. Brent crude closed this week at a seven-month high of nearly USD 73 per barrel. If supply disruptions persist, prices could rise toward USD 80 per barrel.
"Indian refineries have 10 to 15 days of crude oil reserves, including in tanks and transit. Furthermore, their fuel tanks are full, which can easily meet the country's fuel needs for 7 to 10 days," PTI quoted an official.
Another official said India could also buy oil from distant countries like Venezuela, Brazil, and Africa. However, a prolonged shutdown could worsen the LNG supply situation, as India would be left with few options.