'Five-day reserve': India warns of oil crisis amid Middle East tensions
With tensions rising in the Middle East, India's oil imports, nearly 88% of what the country needs, could face major disruptions.
The catch? Our emergency reserves only last five days, leaving us exposed if supplies get cut off.
Prime Minister Modi is urging peace and dialogue to keep these crucial trade routes open.
India has only 5 days of oil reserves
India plans to add 6.5 million metric tons to its strategic oil reserves, while existing underground storage facilities are at Visakhapatnam, Mangaluru, and Padur (combined capacity about 5.33 million metric tons).
But even with this boost, we're still way behind countries like the US (80 days of reserves), China (60 days), and Japan (250 days).
The government warns that a long conflict could hurt our economy and says quick diplomacy is key to keeping our energy secure.