Why Hardeep Singh Puri Predicts Decline In Oil Prices?

Union Minister Hardeep Singh Puri expressed confidence that crude oil and gas rates could ease in the coming months. He also noted that India is well-prepared to handle any disruption, saying the country has sufficient reserves to withstand a closure of the Strait of Hormuz for 80 days. Puri clarified that India does not pay any fee for passage through Hormuz.