West Asia crisis has potential to escalate further: Oil Minister Puri

Union Oil Minister Hardeep Singh Puri stated at a Delhi conclave on Thursday that the West Asia crisis remains ongoing and could exacerbate further.

Puri noted that global crude availability stands at around 102 million barrels per day against India's domestic requirement of 94 to 95 million barrels per day.

The minister ruled out restricting crude exports and stated that the cost of building a refinery ranges between ₹78,000 crore and ₹80,000 crore.