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India Plans to Expand Oil Reserves to Guard Against Price Spikes

India Plans to Expand Oil Reserves to Guard Against Price Spikes
Bloomberg Markets Thursday 02 July 2026, 13:58 UTC By Rakesh Sharma 1 min read
Key Points

Energy India Plans to Expand Oil Reserves to Guard Against Price Spikes India plans to build larger oil inventories, expand storage capacity and deepen supply partnerships to hedge against the kind of price volatility seen during the Iran war. “I’m not worried about it, but I have to prepare for it,” Oil Minister Hardeep Singh Puri told reporters in New Delhi on Thursday, replying to a question on whether the world’s third-largest oil consumer was concerned about future spikes.

Energy India Plans to Expand Oil Reserves to Guard Against Price Spikes India plans to build larger oil inventories, expand storage capacity and deepen supply partnerships to hedge against the kind of price volatility seen during the Iran war. “I’m not worried about it, but I have to prepare for it,” Oil Minister Hardeep Singh Puri told reporters in New Delhi on Thursday, replying to a question on whether the world’s third-largest oil consumer was concerned about future spikes.
India (LOCATION) Expand Oil Reserves to Guard (ORG) the Iran war (EVENT) Hardeep Singh Puri (PERSON) New Delhi (LOCATION)
Originally published by Bloomberg Markets Read original →

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