India Looking for Other Sources of Crude Supply, Sitharaman Says

March 20, 2021 Stu Turley Crude Oil News, International News
India Looking for Other Sources of Crude Supply - energynewsbeat.com

India will look for alternative sources of crude oil to ensure sustained supply of the fuel, Finance Minister Nirmala Sitharaman said.

New supply chains won’t likely have an impact on crude prices though, she said on Saturday. The federal and state governments will have to discuss about the inflationary impact of rising crude and its impact on consumers and the economy, Sitharaman said.

A government panel is monitoring food-related inflation to ensure that supply distortions due to seasonal changes or a change in crop patterns are being addressed, the finance minister said.

An increase in the number of Covid-19 infections is worrying for both the government and the private sector, Sitharaman said. India remains in a comfortable position in its supply of vaccines, and the government is planning to ramp up inoculations to citizens to address concerns over the upsurge in cases, she said.

On the economy, Sitharaman said high frequency indicators show the economy is steadily improving. The government and the Reserve Bank of India are carefully monitoring the situation, and the finance minister said she doesn’t see India facing the risk of a repeat of taper tantrum.

 

About Stu Turley 3348 Articles
Stuart Turley is President and CEO of Sandstone Group, a top energy data, and finance consultancy working with companies all throughout the energy value chain. Sandstone helps both small and large-cap energy companies to develop customized applications and manage data workflows/integration throughout the entire business. With experience implementing enterprise networks, supercomputers, and cellular tower solutions, Sandstone has become a trusted source and advisor.   He is also the Executive Publisher of www.energynewsbeat.com, the best source for 24/7 energy news coverage, and is the Co-Host of the energy news video and Podcast Energy News Beat. Energy should be used to elevate humanity out of poverty. Let's use all forms of energy with the least impact on the environment while being sustainable without printing money. Stu is also a co-host on the 3 Podcasters Walk into A Bar podcast with David Blackmon, and Rey Trevino. Stuart is guided by over 30 years of business management experience, having successfully built and help sell multiple small and medium businesses while consulting for numerous Fortune 500 companies. He holds a B.A in Business Administration from Oklahoma State and an MBA from Oklahoma City University.

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