CHANDIGARH: Union Petroleum and Natural Gas Minister Hardeep Singh Puri on Tuesday said there is no shortage of crude oil in the world and enough refining capacity in the country to meet the domestic requirements.
Referring to geopolitical tensions in the Middle East, the minister said it was his personal assessment that things will calm down, noting that it is in everybody's interest not to allow exaggeration to take place because everyone suffers.
"There is no shortage of crude oil in the world," said Puri while replying to a question on the sidelines of an event regarding 'Rozgar Mela' here.
"Prior to all these developments, the total amount of crude, which was produced in the world, was close to 105 million barrels a day. OPEC+, a group of producing countries, voluntarily cut about 5 million barrels (a day).
This story is from the October 30, 2024 edition of Millennium Post Delhi.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the October 30, 2024 edition of Millennium Post Delhi.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
A journey through the culinary heritage of Old Delhi
Dahleej-e-Dilli
Sreeleela to romance Kartik in Anurag Basu's NEXT FILM
The untitled movie is billed as a heart-wrenching love saga
Pope Is Stable, Vatican Says
Pope Francis, 88, remains hospitalized with a respiratory tract infection after his bronchitis worsened.
FPIs Withdraw ₹21,272 Cr From Equities in February
Total Outflow Nears Rs 1 Lakh Cr in 2025
Opposition blames govt, demands Ashwini Vaishnaw's resignation
Opposition parties on Sunday squarely blamed the government for \"gross mismanagement\" at New Delhi railway station that led to a stampede in which 18 people died and demanded Railway Minister Ashwini Vaishnaw resign, taking moral responsibility.
Clashes in NW Pakistan: 15 terrorists, 4 soldiers killed
At least 15 terrorists, including high-value target ringleaders, and four army personnel were killed in two separate intelligence-based operations in the volatile Khyber Pakhtunkhwa province in northwestern Pakistan on Saturday.
Global trends, foreign investors' trading activity to drive market trends this week
Stock markets are expected to be driven by global trends and FPI trading activity this week, analysts said.
Prez Murmu Inaugurates National Tribal Festival 'Aadi Mahotsav'
The National Tribal Festival, Aadi Mahotsav, kicked off at the Major Dhyan Chand National Stadium in New Delhi on Sunday, with President Droupadi Murmu inaugurating the event.
Mcap of 8 of top-10 valued cos tumbles ₹2 lakh crore
RIL took biggest hit in line with a bearish trend in the broader stock market. Bharti Airtel and ICICI Bank emerged as gainers
Railway staff clear haunting remains after night of chaos
Security personnel tried to intervene, but the crowd was too large to control
