Energy shock looming? India says enough oil stock to weather crisis; Russia claims 'renewed interest' from New Delhi

India has adequate stocks of crude oil and key petroleum products and is fully prepared to deal with potential short-term supply disruptions arising from the evolving situation in the Middle East, Petroleum and Natural Gas Minister Hardeep Singh Puri said on Tuesday.

Briefing the media, Puri said India, the world’s third-largest oil importer, fourth-largest refiner and fifth-largest exporter of petroleum products, has robust energy supplies and diversified sourcing arrangements to ensure continued availability of fuel.

He said the country currently has sufficient inventories of crude oil as well as petroleum products such as petrol, diesel and aviation turbine fuel (ATF) to manage any short-term disruptions caused by hostilities in the region.

“The country is well stocked with crude oil and inventories of key petroleum products… to deal with short-term disruptions arising from the Middle East,” the petroleum ministry said in a statement.

According to the government, India has also diversified its crude procurement in recent years, allowing domestic companies to source cargoes that are not routed through the Strait of Hormuz, one of the world’s most critical oil and gas chokepoints.

Such cargoes will remain available and help mitigate supplies that may be temporarily affected enroute through the Strait of Hormuz, the ministry said.

The government has also set up a 24x7 control room to monitor the supply and stock position of petroleum products across the country.

“At present, the government is reasonably comfortable in terms of stocks,” the ministry said, asserting that safeguarding the interests of Indian consumers remains the highest priority.

The ministry said authorities are continuously monitoring developments and remain “cautiously optimistic” that phased measures could be taken if necessary to mitigate any impact on supplies.

A top oil ministry official said that while this year crude sourced from the countries that use the Strait of Hormuz is above 50% due to a drop in Russian cargoes, the average over the past couple of years has been 40%. The remaining 60% is not shipped from the Strait.

Crude oil in storage tanks, pipelines and on ships in transit is enough to meet the country's requirement for 25 days, PTI reported, citing the official.

Besides, there are stocks of fuel in refineries, deposits, pipelines and other storage facilities that could meet demand for a similar duration, he said.

The assurance comes amid escalating tensions in West Asia following US and Israeli strikes on Iran, which have disrupted traffic through the Strait of Hormuz.

Meanwhile, Russia on Tuesday claimed India has signalled “renewed interest” in importing larger volumes of Russian crude amid the disruptions in energy supplies.

"Yes, we are getting signals of renewed interest from India,” Deputy Prime Minister Alexander Novak told state-run TV Rossiya 1 on the sidelines of an event in Moscow.

Novak, who oversees Russia’s energy sector, did not rule out the possibility that the European Union could also ease its decision to curtail imports of Russian hydrocarbons in view of the unfolding energy crisis.

India has reduced Russian oil imports and been sourcing more from the Gulf countries and the US in January 2026, according to the latest official data.