India isn't overly dependent on anyone for oil — not even Russia, India's Minister of Petroleum and Natural Gas Hardeep Singh Puri told CNBC.
Asked if India was getting a $15 or $30 discount per barrel on Russian crude, Puri said: "Yes, there have been discounts. But there have been discounts coming from all over."
"If there's a 30% discount, the Russians are putting a ribbon around it and sending it to us free. That's what it means," Puri said."We're diversified. We used to buy from 27 sources — today we are buying from 39 sources," he said, naming suppliers from Saudi Arabia, the UAE, and Kuwait amongst them.in July, India's crude oil sources come largely from Middle East and Russia.
There is enough oil available in the world. What you should be really worrying about is whether the consumer will have the resources or the money to pay for it.
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