RIL flags tariff threat to oil trade

RELIANCE INDUSTRIES (RIL) has said continuing geopolitical and tariff-related uncertainties may affect crude oil trade flows and demand-supply balance.

- RAGHAVENDRA KAMATH

"Global crude oil prices continue to remain volatile on the back of dynamic interplay of various factors such as geopolitical volatility in the Middle East, redirection of shipping routes, Opec+ and non-Opec production decisions, regional capacity additions and downstream supply-demand realignments, evolving sanctions and trade tariff regimes and rate of recovery of Chinese economy," the company said in its FY25 annual report.

In a note to shareholders, RIL chairman and managing director Mukesh Ambani said despite global uncertainties and geopolitical turbulence, Indian economy continues to demonstrate unmatched resilience and momentum.

"Today, India is standing tall on the global stage. In FY25, India's GDP growth remained nearly double the global average—propelled by robust domestic consumption, infrastructure development, thriving exports and a dynamic digital ecosystem," he said.