India has secured crude oil supplies sufficient to meet about 60 days of demand, the country’s oil ministry said on Thursday, as disruptions in shipments from the Middle East raise concerns over global supply stability.
The move comes as tensions linked to the U.S.-Israeli conflict with Iran have affected shipping through the Strait of Hormuz, a key route through which India previously received more than 40% of its oil imports.
According to the government, increased crude availability from suppliers in the Western Hemisphere has helped offset the shortfall caused by the disruption.
Indian refiners have also stepped up purchases of Russian crude, taking advantage of a temporary U.S. waiver to secure millions of barrels and stabilise domestic supply.
The ministry said India is now receiving crude from more than 41 global suppliers, with total inflows exceeding previous volumes that arrived through the Hormuz route.
As a net exporter of petroleum products, the government said India’s domestic availability of petrol and diesel remains structurally secure despite the geopolitical tensions.
Authorities added that the country currently holds oil and fuel stocks sufficient for 60 days of consumption, compared with a total storage capacity covering 74 days.
India has also instructed refiners to increase production of liquefied petroleum gas (LPG), widely used as cooking fuel, as about 90% of its LPG imports typically come from the Middle East.
Domestic LPG output has been raised by around 40% to about 50,000 metric tons per day, although national demand stands at roughly 80,000 tons.
To bridge the gap, Indian companies have secured about 800,000 tons of LPG shipments from suppliers in the United States, Russia and Australia, with cargoes arriving through the country’s 22 import terminals while additional purchases continue.