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India Energy Week: Crude Prices to Remain Unaffected by US Tariff Threat: IOCL Chairman
The Business Guardian
|February 13, 2025
Crude oil prices will remain unaffected by US President Donald Trump tariff threats, according to Chairman of Indian Oil Corporation Ltd (IOCL), A S Sawhney.
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On the sidelines of India Energy Week 2025, Sawhney noted that potential trade restrictions could disrupt supply chains, logistics, and trade routes.
He mentioned that the tariff affect will not work in crude prices because if the U.S. imposes tariffs on crude imports from say Mexico, American refiners would seek alternative suppliers, while Mexican oil would be redirected to other markets.
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