India's purchase of Russian oil helped bring down global prices: Hardeep Puri

MINISTER of Petroleum and Natural Gas Hardeep Singh Puri said on Friday that India’s purchases of Russian crude oil had helped to bring down global energy prices to stable le

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In an interview with a foreign news channel, Puri said, “Ru: is one of the largest crude producers with over 9 million barrels/day. Imagine the chaos if this oil, amounting to about 10 per cent of the global oil supply of around 97 million, vanished from the market. It would have forced the world to reduce its consumption, and since the consumers would be chasing reduced supplies, the prices would’ve spiralled to over $120-130.”