Crude oil is a vital natural resource. It serves as the backbone of the global energy sector. This fossil fuel is extracted from the earth. It undergoes refining to produce various fuels and products. Its importance in the economy is significant. Crude oil prices impact inflation and trade. Environmental concerns arise from its extraction and use. Sustainable alternatives are increasingly sought.
India’s strategic petroleum reserve programme includes underground crude oil storage facilities at Visakhapatnam in Andhra Pradesh, Mangaluru in Karnataka, and Padur in Tamil Nadu. The Centre reviewed the...
The global crude oil market has long been shaped by a simple assumption: producer cartels such as OPEC+ can influence prices by tightening or loosening supply. Developments in...
