India plans to expand its strategic petroleum reserves and diversify oil supplies after the Iran war highlighted risks from heavy dependence on Middle Eastern energy sources. The country is looking to increase purchases from suppliers such as the US, Russia, Guyana, and Brazil while reducing vulnerability to disruptions in key oil routes like the Strait of Hormuz.
The move aims to strengthen India’s energy security, stabilize fuel supplies, and protect the economy from future geopolitical shocks, reports Bloomberg.
