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Energy security

With a 12-day oil reserve, a lingering Saudi crisis could hurt India. What could help? US supplies

If supplies from the world’s biggest crude-processing facility are not restored in two weeks, India will have to worry. While the government will have the option to increase its imports from the US, the higher cost will put pressure on its already-strained finances.
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25 Sep 2019 4 Mins Read 2 comments
The Saudi Aramco facility in Abqaiq, Saudi Arabia, after a drone attack on September 14. Reuters
The Saudi Aramco facility in Abqaiq, Saudi Arabia, after a drone attack on September 14.
The drone attack on Saudi Aramco’s processing facility and oilfield in eastern Saudi Arabia has sent a chilling message to all economies that depend heavily on crude-oil imports. The attack has once again put the spotlight on the world’s ability to absorb the shocks from a possible supply issue. Following the incident on September 14, the world’s biggest
Madan Sabnavis, chief economist at Care Ratings points out. While the US, Saudi Arabia, and China have enough emergency reserves to tackle the crisis, heavy importers like India are unlikely to face a problem if the supply is restored shortly. But if the crisis lingers, India’s road to recovery could become more slippery. ( Graphics by Mohammad Arshad)
The drone attack on Saudi Aramco’s processing facility and oilfield in eastern Saudi Arabia has sent a chilling message to all economies that depend heavily on crude-oil imports. The attack has once again put the spotlight on the world’s ability to absorb the shocks from a possible supply issue. Following the incident on September 14, the world’s biggest Madan Sabnavis, chief economist at Care Ratings points out. While the US, Saudi Arabia, and China have enough emergency reserves to tackle the crisis, heavy importers like India are unlikely to face a problem if the supply is restored shortly. But if the crisis lingers, India’s road to recovery could become more slippery. ( Graphics by Mohammad Arshad)

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